{"portalId":61352,"siteId":0,"id":1130392028,"slug":"articles/blog/film-production-insurance-premiums-one-way-to-save-money","contentTypeId":null,"contentGroupId":952267656,"campaign":"","categoryId":3,"state":"PUBLISHED","publishDate":1625002392000,"created":1404172555000,"updated":1649171146381,"templatePath":"","name":"<span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" style=\"\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\" >FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY</span>","mabExperimentId":null,"archived":false,"authorName":null,"deletedAt":0,"freezeDate":1625002392000,"processingStatus":"PUBLISHED","previewKey":"tqQs4_LG","abTestId":null,"createdById":116304,"updatedById":7915797,"domain":"","resolvedDomain":"www.frontrowinsurance.com","legacyId":null,"performableGuid":"","isDraft":false,"subcategory":"normal_blog_post","abStatus":null,"blueprintTypeId":0,"folderId":null,"analyticsPageId":"1130392028","flexAreas":{},"widgetContainers":{"Sidebar_Modules":{"widgets":[{"css":{},"child_css":{},"type":"blog_subscribe","order":0,"label":"Blog Email Subscription","id":1489084423581,"body":{"overrideable":false,"response_message":"Thanks for Subscribing!","select_blog":"default","title":"Subscribe to Email Updates"},"deleted_at":1562609915969}],"deleted_at":1562609915969}},"widgets":{"name":{"body":{"title":"FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY"},"id":"name","name":"name","type":"text","label":"Title"},"module_156398965931111":{"body":{"path":"/Marketplace/HubSpot/Team_Member/Team Member","widget_name":"Team Member","definition_id":null,"wrapping_html":"","module_id":8696351,"per_widget_wrapper_html":"","smart_type":"NOT_SMART","type":"module","tag":"module","smart_objects":null},"css":{},"child_css":{},"id":"module_156398965931111","name":"module_156398965931111","type":"module","order":9,"label":"Team Member","smart_type":null,"styles":{},"module_id":8696351,"deleted_at":1649170857384},"module_15960847531069":{"body":{"wrap_field_tag":"div","path":"/Coded files/Custom/blog/FrontRow2014/Blog Subscribe New Module 2020","definition_id":null,"module_id":33051772119,"smart_type":"NOT_SMART","field_types":{"add_form":"form","add_form_title":"text","enable_form":"boolean"},"type":"module","tag":"module","smart_objects":null},"css":{},"child_css":{},"id":"module_15960847531069","name":"module_15960847531069","type":"module","order":4,"label":"Blog Subscribe New Module 2020","smart_type":null,"styles":{},"module_id":33051772119,"deleted_at":1649170857384},"module_15965216980304":{"body":{"wrap_field_tag":"div","path":"/Coded files/Custom/blog/FrontRow2014/Basic Rich Text Box for Blog","definition_id":null,"module_id":33156769794,"smart_type":"NOT_SMART","field_types":{"add_content":"richtext","enable_rich_text_module":"boolean"},"type":"module","tag":"module","smart_objects":null},"css":{},"child_css":{},"id":"module_15965216980304","name":"module_15965216980304","type":"module","order":5,"label":"Basic Rich Text Box for Blog","smart_type":null,"styles":{},"module_id":33156769794,"deleted_at":1649170857384},"post_body":{"body":{"html":"<img src=\"https://cdn2.hubspot.net/hubfs/61352/film-set-outdoors-unsplash-forweb.jpg\" alt=\"Film set outdoors / film insurance\" width=\"600\" style=\"width: 600px; display: block; margin: 0px auto;\">\n<h1>save money on your film insurance premium</h1>\n<p>One of the simplest ways to&nbsp;reduce&nbsp;film production insurance premiums is to lower&nbsp;the net insurable budget. The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is applied against the net budget.</p>\n<!--more-->\n<p>A typical rate might be .70 cents per hundred dollars of net budget depending on the current insurance market conditions. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:&nbsp;</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during post production are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000 the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, it is no longer insured in the event of a claim so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<p><strong>Related Posts</strong>:</p>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span>"},"id":"post_body","name":"post_body","type":"rich_text","label":"Blog Content","deleted_at":1615395523206},"menu_header_sector_categories":{"css":{},"child_css":{},"name":"menu_header_sector_categories","type":"menu","label":"Menu Header Sector Categories","smart_type":null,"id":"menu_header_sector_categories","body":{},"deleted_at":1562609915969},"menu_header_all_sectors":{"css":{},"child_css":{},"name":"menu_header_all_sectors","type":"menu","label":"Menu Header All 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The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.</p>\n<p>A typical rate might be .70 cents per hundred dollars of net budget, depending on the current <a href=\"/articles/hard-vs.-soft-insurance-markets-explained\" rel=\"noopener\">insurance market conditions</a>. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post-Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during <a href=\"/post-production-studios\" rel=\"noopener\">post-production</a> are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, <em>it is no longer insured in the event of a claim</em>, so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<h3>Related Posts:</h3>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n<li><a href=\"/articles/articles/bid/111086/call-sheets-help-reduce-film-production-insurance-costs\" rel=\"noopener\"><span style=\"font-size: 18px;\">Call sheets help reduce film insurance costs</span></a></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span></span>","postSummary":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\">\n<div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\"><iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen data-service=\"youtube\"></iframe></div>\n</div>\n","blogPostScheduleTaskUid":null,"blogPublishToSocialMediaTask":"DONE","blogPublishInstantEmailTaskUid":"DONE","blogPublishInstantEmailCampaignId":null,"useFeaturedImage":true,"htmlTitle":"FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY","blogPublishInstantEmailRetryCount":0,"postListContent":"<span id=\"hs_cos_wrapper_post_body\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_rich_text\" style=\"\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"rich_text\" ><div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\">\n<div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\"><iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-service=\"youtube\"></iframe></div>\n</div>\n<!--more--><p>&nbsp;</p>\n<p>One of the simplest ways to reduce film production insurance premiums is to lower the net insurable budget. The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.</p>\n<p>A typical rate might be .70 cents per hundred dollars of net budget, depending on the current <a href=\"/articles/hard-vs.-soft-insurance-markets-explained\" rel=\"noopener\">insurance market conditions</a>. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post-Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during <a href=\"/post-production-studios\" rel=\"noopener\">post-production</a> are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, <em>it is no longer insured in the event of a claim</em>, so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<h3>Related Posts:</h3>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n<li><a href=\"/articles/articles/bid/111086/call-sheets-help-reduce-film-production-insurance-costs\" rel=\"noopener\"><span style=\"font-size: 18px;\">Call sheets help reduce film insurance costs</span></a></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span></span>","postEmailContent":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\"> \n <div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\">\n <iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen data-service=\"youtube\"></iframe>\n </div> \n</div>","postSummaryRss":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\"> \n <div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\">\n <iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen data-service=\"youtube\"></iframe>\n </div> \n</div>","postBodyRss":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\">\n<div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\"><iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-service=\"youtube\"></iframe></div>\n</div>\n<!--more--><p>&nbsp;</p>\n<p>One of the simplest ways to reduce film production insurance premiums is to lower the net insurable budget. The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.</p>\n<p>A typical rate might be .70 cents per hundred dollars of net budget, depending on the current <a href=\"/articles/hard-vs.-soft-insurance-markets-explained\" rel=\"noopener\">insurance market conditions</a>. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post-Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during <a href=\"/post-production-studios\" rel=\"noopener\">post-production</a> are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, <em>it is no longer insured in the event of a claim</em>, so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<h3>Related Posts:</h3>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n<li><a href=\"/articles/articles/bid/111086/call-sheets-help-reduce-film-production-insurance-costs\" rel=\"noopener\"><span style=\"font-size: 18px;\">Call sheets help reduce film insurance costs</span></a></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span>","postRssContent":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\"> \n <div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\">\n <iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen data-service=\"youtube\"></iframe>\n </div> \n</div>","rssSummaryFeaturedImage":"https://f.hubspotusercontent00.net/hubfs/61352/blog-image-uploads/save%20money%20premiums/film-set-outdoors-unsplash-300x175.jpg","rssBody":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\">\n<div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\"><iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-service=\"youtube\"></iframe></div>\n</div>\n<!--more--><p>&nbsp;</p>\n<p>One of the simplest ways to reduce film production insurance premiums is to lower the net insurable budget. The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.</p>\n<p>A typical rate might be .70 cents per hundred dollars of net budget, depending on the current <a href=\"/articles/hard-vs.-soft-insurance-markets-explained\" rel=\"noopener\">insurance market conditions</a>. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post-Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during <a href=\"/post-production-studios\" rel=\"noopener\">post-production</a> are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, <em>it is no longer insured in the event of a claim</em>, so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<h3>Related Posts:</h3>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n<li><a href=\"/articles/articles/bid/111086/call-sheets-help-reduce-film-production-insurance-costs\" rel=\"noopener\"><span style=\"font-size: 18px;\">Call sheets help reduce film insurance costs</span></a></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span>","rssSummary":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; 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The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.</p>\n<p>A typical rate might be .70 cents per hundred dollars of net budget, depending on the current <a href=\"/articles/hard-vs.-soft-insurance-markets-explained\" rel=\"noopener\">insurance market conditions</a>. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post-Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during <a href=\"/post-production-studios\" rel=\"noopener\">post-production</a> are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, <em>it is no longer insured in the event of a claim</em>, so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<h3>Related Posts:</h3>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n<li><a href=\"/articles/articles/bid/111086/call-sheets-help-reduce-film-production-insurance-costs\" rel=\"noopener\"><span style=\"font-size: 18px;\">Call sheets help reduce film insurance costs</span></a></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span></span>","publish_immediately":true,"blog_publish_to_social_media_task":"DONE","rss_body":"<div class=\"hs-responsive-embed-wrapper hs-responsive-embed\" style=\"width: 100%; height: auto; position: relative; overflow: hidden; padding: 0; max-width: 560px; max-height: 315px; min-width: 256px; margin: 0px auto; display: block;\">\n<div class=\"hs-responsive-embed-inner-wrapper\" style=\"position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0;\"><iframe class=\"hs-responsive-embed-iframe\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%; border: none;\" title=\"Save money on your film insurance premium\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" xml=\"lang\" src=\"https://www.youtube.com/embed/41ES_gNsiTQ?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-service=\"youtube\"></iframe></div>\n</div>\n<!--more--><p>&nbsp;</p>\n<p>One of the simplest ways to reduce film production insurance premiums is to lower the net insurable budget. The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.</p>\n<p>A typical rate might be .70 cents per hundred dollars of net budget, depending on the current <a href=\"/articles/hard-vs.-soft-insurance-markets-explained\" rel=\"noopener\">insurance market conditions</a>. <span style=\"background-color: transparent;\">To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:</span></p>\n<ol>\n<li><strong>Story and scenario</strong> - we will assume this amount is $50,000 <em>(I know, writers are never paid enough).</em></li>\n<li><strong>Post-Production costs</strong> - we will assume this amount is $200,000</li>\n</ol>\n<p>Claims that happen during <a href=\"/post-production-studios\" rel=\"noopener\">post-production</a> are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.</p>\n<p>$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.</p>\n<p>Other budget costs to consider removing from our sample budget might be:</p>\n<ol>\n<li>Producer fees ($50,000)</li>\n<li>Development ($20,000)</li>\n<li>Publicity ($5,000)</li>\n<li>Overhead ($35,000)</li>\n<li>50% of contingency ($25,000)</li>\n</ol>\n<p>Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.</p>\n<p>Once the budgeted cost is removed from the net insurable budget, <em>it is no longer insured in the event of a claim</em>, so producers need to be sure before removing anything from the insured budget.</p>\n<p>As specialized film insurance brokers, <a href=\"/contact-us\" rel=\" noopener\">we can help guide you</a> to an appropriate net insurable budget for your film production.</p>\n<h3>Related Posts:</h3>\n<ul>\n<li><a href=\"/articles/articles/bid/31052/film-production-insurance-how-the-premium-is-determined\" rel=\" noopener\">How the film insurance premium is determined</a></li>\n<li><span style=\"font-size: 18px;\"><a href=\"/articles/articles/bid/26731/reducing-the-cost-to-insure-film-equipment\" rel=\" noopener\" style=\"background-color: transparent;\">Reducing the cost to insure film equipment</a></span></li>\n<li><a href=\"/articles/articles/bid/111086/call-sheets-help-reduce-film-production-insurance-costs\" rel=\"noopener\"><span style=\"font-size: 18px;\">Call sheets help reduce film insurance costs</span></a></li>\n</ul>\n<span style=\"font-size: 18px;\"><strong>Related Video</strong>: <a href=\"https://youtu.be/DUqbD3Hr7tQ\" rel=\" noopener\">WHAT IS A PREMIUM?</a></span>","enable_layout_stylesheets":true,"legacy_post_guid":null,"featured_image_alt_text":"FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY","enable_google_amp_output_override":false,"last_edit_session_id":null,"last_edit_update_id":null,"tag_ids":[949708709,949708774,949708809,949709809],"link_rel_canonical_url":"","published_by_id":7915797,"published_at":1649171146375,"layout_sections":{},"scheduled_update_date":0,"featured_image_width":300,"featured_image_height":175,"header":null}}

FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY

FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY

 

One of the simplest ways to reduce film production insurance premiums is to lower the net insurable budget. The net insurable budget is the amount left once various budget line items are removed from the definition of insurable costs. The rate that is negotiated with the insurance company is typically applied against the net budget; however, note that not all of the insurers rate on net insurable, as was the case a few years ago.

A typical rate might be .70 cents per hundred dollars of net budget, depending on the current insurance market conditions. To illustrate, let us assume a cable TV movie needs to be insured with a budget of $2,000,000. Typically, we would remove the following line items as costs that do not need to be insured:

  1. Story and scenario - we will assume this amount is $50,000 (I know, writers are never paid enough).
  2. Post-Production costs - we will assume this amount is $200,000

Claims that happen during post-production are covered; however, due to the low risk of claims in post, the insurance company does not apply rate to post costs, which is why it has been removed.

$2,000,000 less script and post costs leaves a net insurable budget of $1,750,000. $1,750,000 times the negotiated rate of .70 results in a premium of $12,250. If the net were less than $1,750,000, the premium would go down.

Other budget costs to consider removing from our sample budget might be:

  1. Producer fees ($50,000)
  2. Development ($20,000)
  3. Publicity ($5,000)
  4. Overhead ($35,000)
  5. 50% of contingency ($25,000)

Removing the above items would lower the net insurable budget by $135,000 to $1,615,000 and would result in a premium savings of $945.

Once the budgeted cost is removed from the net insurable budget, it is no longer insured in the event of a claim, so producers need to be sure before removing anything from the insured budget.

As specialized film insurance brokers, we can help guide you to an appropriate net insurable budget for your film production.

Related Posts:

Related Video: WHAT IS A PREMIUM?

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