Film insurance is always a quesiton I get asked about – how muhc, where from, what kind of cover… So I asked the lovely people at Performance Media and Film a few basic questions for indie filmmakers.
Q – What are the different types of insurance needed for low budget films?
A – You can cover many things for low budget films, the main things that people cover would be Equipment (Own or Hired), Public Liability and Employers Liability. You can then also cover Business Travel and Production Insurance (Producers Indemnity and Multimedia) which would cover any extra expenses for delays, cancellation and abandonment of the Film and damage to any footage before being backed up.
Q – Can I take out annual insurance that covers multiple shoots? How does that work?
A – Yes you can, a policy with us can work however you want it to, we cater our policies to suit each individual clients requirement, we understand how hard it is to gauge the upcoming year so we would ask for estimates for the forthcoming year on things like Freelance payments and annual Production Spend including Spend on Hiring Equipment, this can always be topped up throughout the year if you get more work than originally estimated.
Q – What is loss of hire insurance?
A – When you Hire Equipment from a 3rd party Equipment Hire Company they obviously make it your responsibility to insure the equipment whilst on hire, if when you hire the equipment it gets lost, damaged or stolen under the Hire Agreement you are responsible to pay for the hire costs until the items are repaired or replaced, this would fall under Loss of Hire cover, we give £100,000 as standard under our policies and do not limit it to 13 weeks lie others may do.
Q – Do I need to undertake risk assessments and have a first aider on the team?
A – Not unless you are carrying out a high risk scenes or stunts etc.. however it is good practice to carry out Risk Assessments for each Film, with stunts, pyrotechnics etc.. you should also seek 3rd parties who are trained in such higher risk activities who will then carry the relevant insurance and take the Liability of any claim falling due to this activity away from you, most standard policies will exclude losses occurring from any stunts, heat, fire and explosives etc..
Q – How can I get a quote fast?
A – You can purchase a policy within around 10 minutes from start to finish via our quote and busy system online for single Production cover https://www.astonlark.com/performance/short-period-insurance providing the cover is no longer than 90 days in duration, although Post Production extensions are also available, we always however recommend to call the office to speak to one of the team who can then advise you accordingly.
Q – What is the bare minimum insurance needed to stay safe?
A – To stay safe we would always recommend at least Employers and Public Liability cover, however when hiring Equipment the rental house will state you need to insure the Equipment whilst on hire, so you would require Hired Equipment also. If you are a Limited company when engaging in others to assist, whether paid or unpaid, it would become a LEGAL requirement to have Employers Liability cover for this period of engagement, there are no other legal requirements on insurance covers.
Onwards and upwards!