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What Producers Need to Know about Film Equipment Insurance

Entertainment Insurance · September 11, 2019

The film production process can be long and complex. There are numerous stages involved, starting with script development and ending with film distribution. Each stage has its ups and downs and not everything goes smoothly. Film producers often run into a myriad of problems along the way, such as injuries on set and copyright infringement claims. One of the biggest risks filmmakers encounter is theft or damage to film equipment. Whether owned or rented, film equipment damages can result in tens of thousands of dollars in damages and the filmmaker is almost always held responsible.

Importance of Maintaining Film Equipment

two people seeing why they need film equipment insuranceAs a filmmaker, you rely on your film equipment for nearly every scene. In fact, without it you would not be able to make a film. Due to its importance, film equipment maintenance is of the utmost importance. Unfortunately, accidents can happen on set or on route to set that could result in damages. In some cases, film equipment comes up missing or is stolen. When these types of situations occur, production may come to a screeching halt.

Film Equipment Insurance and Why You Need It

Every filmmaker uses some type of film equipment. This means that every filmmaker needs film equipment insurance. Film equipment policies are one of the most common types of film production insurance. These policies cover everything from theft and loss to damage to both owned and rented equipment. With film equipment insurance, you can rest assured that you are financially covered if something happens to your equipment. Many companies will also not rent out film equipment to filmmakers who do not have the proper insurance.

What Film Equipment Insurance Covers

Film equipment insurance is an affordable way to keep your production company protected. A standard policy can be used to fund the repair or replacement of a wide range of production gear, such as:

  • Cameras – Decent studio cameras can cost roughly $5,000 to $10,000 or more, and that is on the lower end. Larger production companies invest a lot of money into their cameras to ensure crystal clear imaging. Without a camera, you will be forced to stop production and have yours repaired or replaced which can really interfere with your film budget.
  • people standing around equipment with film equipment insurance

  • Microphones – Microphones used in productions can range from $100 to over $2,000 each if more complex audio is needed. Replacing broken or stolen microphones can be very costly.
  • Boom Sticks – A telescopic boom lift, also referred to as a boom stick, allows for better audio. Having your boom sticks covered by insurance is essential.
  • Camera Lenses – Professional-grade camera lenses are one of the most expensive components of a camera. If someone drops a lens and it breaks, you want to ensure that you have the proper coverage.
  • Computers – Desktop and laptop computers are often used for editing films and other important production tasks. These computers can cost thousands of dollars but due to their fragile state, are easily damaged.
  • Lights/Reflectors – Having the proper lighting and reflectors on set is key for creating the perfect ambiance. When a light falls over and breaks, you could find yourself having to replace it.
  • Tripods – While a tripod breaking may not seem like a big deal, these types of purchases can quickly add up and eat away at your production budget.
  • Dollies – Dollies are often used to move film equipment from one shoot to the next. If your dollies come up missing, your film equipment insurance will likely cover the cost of replacement.
  • Hard Drives – Hard drives are responsible for storing important information and video from current and former productions. Keeping these protected is essential for the long-term health and prosperity of your business.
  • Batteries – When you are working on an important video or film production, the last thing you want to happen is to run out of battery power. Batteries can sometimes start to malfunction or refuse to hold a charge. When this happens, you want to have a policy that will cover their replacement.
  • Cables – There are all types of cables required for film productions. While the cost individually may not be substantially, replacing numerous cables can be quite costly.
  • a film set that needs film equipment insurance

  • Camera Bags – Professional camera bags are far from cheap. When your camera bag breaks or gets lost, film equipment insurance may cover the cost to repair or replace it.

Acquiring Film Equipment Insurance

There are many types of insurance policies designed to protect filmmakers and their business from damages. However, film equipment insurance is one of the most important. Due to the high cost and importance of film equipment gear, having to repair or replace a piece of equipment can be financially challenging. To learn more about why producers need film equipment insurance or to acquire a policy, contact the entertainment insurance brokers at MFE Insurance.

Filed Under: Entertainment Insurance

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