The Different Types of Production Insurance
Film production companies need insurance to protect themselves from financial losses due to unforeseen events that can occur during the production process. Some common types of insurance that film production companies may consider include:
General Liability Insurance: This type of insurance protects the company against third-party claims for bodily injury or property damage that may occur during production.
Errors and Omissions Insurance: Also known as professional liability insurance, this type of coverage protects the company against claims of professional negligence or errors in the final product.
Equipment Insurance: This insurance covers replacing or repairing the equipment if it is damaged or lost during production.
Production Insurance: This type of insurance covers the costs of completing the film if it is disrupted due to unforeseen events such as natural disasters, illness, or death of key cast or crew members.
Workers' Compensation Insurance: This type of insurance provides medical and wage replacement benefits to employees who are injured on the job.
It's important for film production companies to carefully consider their specific needs and obtain the insurance coverage that best fits their operations. An insurance broker specializing in entertainment industry insurance can help determine the most appropriate range and assist in securing a policy.