Trending News
Argo Casino - Game of Thrones - 20 Free Spins
Here's why it is important to have an effective insurance plan for your filmmaking or video production and why you will need it.

A Beginner’s Guide to Production Insurance

Establishing your presence in the film industry is no easy task. From creating sets, choosing suitable locations to casting prominent actors, every step you take requires attention to detail and a big budget to cover expenses related to production, editing, and screening.

Not being insured as a video or film producer can be fatal since cast illness, faulty stock, and weather delays can cause serious delays in production and can cost you a huge chunk of money.

A smart way to avoid such inconveniences is to get a production insurance policy for your production company. In this article, we’ll be discussing why it is important to have an effective insurance plan for your filmmaking or video production and why you will need it.

Film or Video Production Insurance

In this highly competitive world of film making and arts, most producers have some special requirements that are specific to their professions. The field of film production is vast, and because of that, many film producers and production houses frequently face dire situations.

On-set injury, equipment damage, theft, and copyright infringement claims – a producer’s list of worries knows no bounds. This is where Athos Insurance Services come in. They offer cost-effective and efficient production insurance to cover unexpected costs, liability claims, and losses of production.

Importance of Production Insurance

Film production insurance protects your company from unforeseeable circumstances and costly liability claims by settling a specified amount. It is advised by the local U.S. authorities to carry some form of insurance before filming so that it can cover liability risks from on-set injuries and damage to property.

Film production insurance is key to saving your investments. Without it, you’ll be facing a lot of potential risks. It is always better to have an insurance plan set out for your project right from the start to avoid complications.

Need for Production Insurance

Insurance is crucial for the sustainability of a project; it protects a producer from uncertain predicaments. Not insuring a project is a hard gamble, not to mention very risky for any producer. If you are the producer, you bear the responsibility of everything and everyone in a project.

When you are working on your film or video, problems can arise; situations can go wrong, even if you stay careful along the way. Film production insurance reduces the risks that can occur before, during, or after production. There is a risk of damage to property, equipment, set, and theft.

Policies of Production Insurance

It is important to understand exactly what benefits your insurance will provide once you get it set. Normally, film production insurance covers injuries on set, equipment & property damage, and copyright infringement.

There are no hard and fast rules about which insurance policy to choose for your project. Since every project is different in its own way, it is up to you to decide which insurance suits your requirements the best. Here are some insurance policies that cover different scenarios –

Loss and Damage Policy

When you are often on the road, traveling and working in multiple locations, there is a constant risk of production items getting lost or damaged. Loss & damage policy is made specifically to tackle situations like these.

General Liability Policy

When you are filming on other people’s property or using their assets on rent, there is a constant risk of those assets getting damaged. A general liability policy covers any damages made to the general public property. It also covers any claims for injuries to outside parties on set.

Errors and Omissions Policy

While working on your creative work, you might get various copyright claims of unauthorized usage of materials, titles, formats, ideas, plots, etc. This is where errors and omissions policy comes in; it protects you and your work from ill-based copyright allegations and defamations. 

It also provides security against unfair competition and invasion of privacy. One thing to keep in mind here is you should take professional advice from your production lawyer before reviewing a case under errors and omissions.

Equipment Protection Policy

You are going to need a lot of equipment to work with when filming or videoing a project. Some of it you will buy; other items you will have to borrow. Whenever you’re working with electronic and digital equipment, there is a high possibility that they might malfunction or get stolen.

Having an equipment protection policy will cover these mishaps so that you can focus on creating your creative content smoothly without any risks of a claim. When you are selecting this policy, keep in mind to select it for a short timeframe to reduce expenses.

Workers’ Compensation Policy

Workers are the driving force of your project; they work hard to make your ideas come to fruition. So, it is your responsibility to take care of them. Working on a film or video project is a risky job since accidents can happen at any given moment.  

In case of any work-related injuries, you have to keep workers’ compensation policy to safeguard your employees and minimize the uncertain costs related to their medical expenses, paid time off, etc.

Types of Production Insurance

There is no ideal film production insurance for your project. There are different types of insurance packages that serve their own specific purpose. It is up to you to decide which one suits your project the most. 

If you have a couple of projects to complete, then you can go for long-term insurance packages. You can choose short-term insurance packages if you have a particular film project at hand. 

Short-Term Insurance

Short-term insurance policies will cover your productions for as long as your project lasts but will only cover your losses once.

If you are a producer who only needs coverage for a particular project or have a tight budget, then short-term insurance is the most suitable for you.

Short-term insurance is required to cover projects like – commercials, music videos, short films, etc., as they don’t take up much time to complete. 

Long-Term Insurance

Long-term insurance policy tends to cover your risks for a longer period and protects your interests over several projects. If you are a producer who is planning to work on a series of projects over a specified period, then this insurance policy is just for you. 

Annual DICE Insurance

Annual DICE policy is an insurance policy that covers Documentaries, Industrial, Commercial, and Educational (DICE) films for a whole year. Sometimes it also covers videos and short films. It is an expensive policy that covers your general liability, equipment protection, and workers’ compensation

Generally, a producer can’t apply for DICE if his budget exceeds $150,000. But if you are working on projects throughout the year, then the Annual DICE policy suits you the best.

Cost of Production Insurance

You can determine exactly what amount you’ll have to spare for insurance purposes in your budget by analyzing risk level, duration of the project, annual vs. short-term policy. Although you won’t spend that much, it’s ideal to consider spending at least 3% of the entire budget on insurance.

You need to consult with a knowledgeable underwriter to determine which insurance suits your project and its budget the most. Normally, equipment protection starts at $500, Errors & Omissions starts at $2500-$2800, and workers’ compensation insurance depends on the number of employees.


Whether you’re a professional or just starting in your field, protecting your interests and investments should be your number one priority.

Hopefully, this guide helped you understand the do’s and don’ts about choosing your insurance policy.

So, make smart, well-informed decisions, and choose the ideal production insurance for your film project to keep your problems at bay.

Share via:
No Comments

Leave a Comment