US Filmmakers: Entertainment Insurance 101 (for Budgets under $100K)

Posted by David Hamilton on May 15, 2020 10:51:00 AM

US Filmmakers: Entertainment Insurance 101 (for Budgets < $100K)

FILM PRODUCTION INSURANCE 101 FOR US FILMMAKERS | USA FILM INSURANCESource: Shutterstock Royalty-free stock illustration ID: 735595339

So you wrote a killer script, put together a budget, found your talent, and you’re ready to shoot your first project. You set the dates, bright-eyed, excited, and you go to rent some production equipment, and maybe a couple of props or costumes.

You get the quote from the prop house, and it requires insurance. You call your personal auto insurance agent, and they don’t know how to help.

You scour blogs, resource pages, and ask your friends whom they talked to for their production insurance. Once you talk to a broker, it’s like they’re speaking a different language. You feel confused, frustrated – “I just want to rent some cameras and shoot!”

WHAT IS FILM PRODUCTION INSURANCE? | FILM PRODUCTION INSURANCE USA | US-BASED FILM PRODUCTION INSURANCE

At Front Row, we understand how confusing production insurance can be because many of us were filmmakers (in prior lives) and have been there ourselves!

Every film production insurance policy needs to be tailored to the company, or to the project if a short-term film policy. A film insurance policy is based on the best offerings from insurance companies that provide entertainment production coverage.

A SOLID FILM INSURANCE POLICY WILL PROTECT THE PRODUCER FROM:

  • liability related to injuries on set
  • accidents in working vehicles
  • theft
  • loss and damage of rented and owned equipment
  • can also protect producers from libel or copyright infringement claims

Pro Tip: If you are a producer on a project, you carry the majority of the responsibility if something goes awry. This huge responsibility can have financial, legal, even criminal ramifications to you personally.

So, now we know what production insurance is, or at least get the general idea. But just because you purchased insurance, don’t think that everything you touch will necessarily be protected.

AN OVERVIEW OF THE FILM INSURANCE POLICIES OFFERED BY FRONT ROW FOR US FILMMAKERS:

PRODUCTION EQUIPMENT INSURANCE

Covers against risks of direct physical loss, damage or destruction to cameras, camera equipment, sound & lighting equipment, grip equipment, portable electrical equipment & generators, mechanical effects equipment and similar miscellaneous equipment.

This coverage also typically includes loss of use of property of others for which the renter or producer is legally liable. The limit of coverage for production equipment should be sufficient to cover the replacement cost of ALL equipment being used on the project. Most equipment rental houses will include in their contract a statement confirming the renter’s requirement to fully insure the equipment in their possession.

This coverage may also be known as Inland Marine, or Rented Equipment coverage. If there is a loss for an item you rented, the insurance company will pay the amount to replace it. When your broker asks you for a replacement value, they are not referring to how much you are paying to rent, but how much it would be to replace this item. If you ask most rental/prop houses, they will add it onto your invoice if it isn’t already noted. Note: When Rental Equipment Value is greater than $25K USD, General Liability is mandatory and cannot be removed.

If you own more than $5,000 USD in production equipment, it’s best to purchase a separate Annual Equipment Floater Policy that covers your Owned Equipment Worldwide. It’s much more cost effective than purchasing the coverage for one project.

Equipment Floater Policy US quote.

SHORT-TERM PRODUCTION INSURANCE (SHORT SHOOT)

Short-Term Production Insurance is perfect for the new or indie filmmaker who may not have more than one project scheduled in the next six months. This coverage is ideal for singular projects and can satisfy insurance requirements from film schools, rental houses, permit offices, prop houses, and/or studio location rental space.

Pricing starts at around $500 USD for minimal coverages. The premium amount for 1-10 days of coverage is the same price and it will increase with the more days you add, but 60 days is the maximum coverage period for short-term policies.

Short Shoot US quote.

DICE INSURANCE (ANNUAL)

Q. What's the difference between short-term production insurance versus annual?

A. Short-term production insurance covers your productions on a project-by-project scale. Purchased on this scale, short-term policies can cover as little as one day of production (although you should cover your prep days, too).

Planning to shoot multiple times throughout the year, and have an estimated budget over $15K USD? Then you’ll want an annual (DICE) policy. This coverage can be much more cost effective than Short-Term Production Insurance. Pricing starts around $2,500 USD for the year. Financing may be available.

Although DICE policies can be completely customized to fit your productions need, the following coverage options are available:

DICE US quote.

FILM PRODUCER’S E&O INSURANCE

If your project is being sold or distributed, Errors & Omissions (E&O) coverage may be for you; in fact, most distribution contracts will require this coverage. All television, streaming services, and feature films will require this coverage.

E&O coverage protects your production and covers any legal cost if another party accuses you of an unoriginal idea, e.g., title, characters, plots.

Pricing starting around $3,000 USD for three years of coverage.

Film producer’s E&O US quote.

OTHER FILM INSURANCE COVERAGES TO CONSIDER:

GENERAL LIABILITY

Although film policies vary widely, you’ll always need general liability. General liability covers bodily injury and property damage that occurs during the course of filming. Cast and crew are exempt from this and covered separately through a workers compensation policy. This coverage is required by most city/county permit offices.

The standard minimum policy is $1 million USD, and when the location is open to the public or sells tickets, it quickly jumps into a $5 million USD umbrella. The umbrella covers the possibility that more than one person gets injured in the facility during filming or live shows.

Example: you are filming on a sidewalk and a bystander walks by and trips on a cable; this would be a loss that would be covered by general liability. Now, if a cast or crew member trips, that would not be covered under general liability; that would be workers compensation (see below).

WORKERS COMPENSATION

Workers compensation protects you should something happen to your employees on the job. It's important to go over how you are covering crew (employees) and independent contractors.

YOU NEED A WORKER COMPENSATION POLICY IF:

  • You work as an independent contractor or freelancer
  • You are paid full rate, no taxes withheld (from a provided invoice)
  • You provide the production with a W-9 for labor or labor & gear

YOUR WORKERS COMPENSATION POLICY:

  • Can cover your payrolled cast & crew, 1099 freelancers and volunteers
  • Can cover your working crew in periods outside of general production
  • Protects you from claims arising from injuries to your crew
  • Provides for you in the case of injury on the job
  • Covers medical costs, loss of work or death benefits if injuries occur on the job

Note: If there are Hazardous Activities/Scenes (e.g., animals, stunts, guns, fight scenes, car chases, water scenes, aerial shoots), then Workers Comp is excluded and cannot be added. You must obtain Workers Comp either through a payroll company or through your local State Fund (if in California, contact https://www.statefundca.com). This will take extra time, so if you have a shoot this weekend, you may want to reconsider how important that stunt is to the project.

THIRD PARTY PROPERTY DAMAGE

Legal liability for damage to or destruction of property belonging to others (including loss of use of the property) while the property is in the care, custody or control of the production company and is used or to be used in an insured production.

Physical damage to your location or other rented premises is not included unless Third Party Property Damage (TPPD) is purchased. If you are filming in a studio or using a platform like Peerspace for your project, this cover will most likely be required. Note: TPPD excludes the home/property of the producers, cast and crew of the project.

NON-OWNED/HIRED AUTO

Hired/Non-Owned Auto Liability covers damages and injuries sustained by other motorists that your production rental vehicle accidentally hits when your production is considered “At Fault”.

Hired/Non-Owned Auto Physical Damage covers accidental damages of the rental vehicle itself. The personal vehicles of the named insured/company owner and its officers are excluded. Personal auto insurance of cast/crew is primary coverage and Hired/Non-Owned Auto Liability of the production policy is excess/secondary coverage.

UMBRELLA LIABILITY

This policy provides additional limits to the general liability, auto liability, employers’ liability (under workers’ compensation policy) and third party property damage coverages. Some locations will require higher limits than the standard general/auto liability policy of $1mil USD.

GUILD/UNION TRAVEL ACCIDENT

Provides travel accident coverages (accidental death and dismemberment) as required by the guild or union contracts to which the producer is signatory. Coverage is blanket and the limits of liability meet all signatory requirements. Coverage may be extended to non-union employees, usually with a benefit limit of $50K USD each person.

PRODUCTION PACKAGE

A production package is an accumulation of coverages to protect multiple or singular projects such as features, TV series, or documentaries. If you have an annual gross production cost over $100,000 USD and are looking for annual coverage, a production package will be necessary.

Note: Most carriers do not sell just the production package; you most likely will be required to purchase general liability as well. Minimum premiums start around $6,000 USD. Some coverages available in a production package are:

Cast Coverage Example: the lead actor of your feature is running three hours late and may not come in because they have food poisoning. Your cast, crew, makeup artists have all shown up and are waiting. Cast Coverage would cover any loss associated with the actor not being present; expenses for that shoot day would be covered.

Negative Film — direct physical loss, damage or destruction of raw film or tape stock, exposed film (developed or undeveloped), videotape, matrices, lavenders, positives, inter-positives, working prints, cutting copies, fine grain prints, color transparencies, cells artwork and drawings, hard drives, software and related materials used to generate computer images, and soundtracks and tapes, up to the amount of the insured production cost.

Negative Film Example: you just wrapped up all the post work on a TV series and are running late to go meet a potential investor for coffee. You ask the new PA to hand-deliver the hard drive to the network, which is a few blocks away. The PA receives a phone call, leaves the hard drive on the roof of the car, and drives away… Negative Film would cover up to the gross production cost in the case of a loss.

Faulty Stock — loss, damage, or destruction of “negative film” caused by or resulting from fogging or the use of faulty materials (including cameras), faulty sound equipment, or faulty developing. Faulty coverage does not include loss caused by errors of judgement in exposure, lighting or sound recording; from the use of incorrect type of raw stock; or faulty manipulation by the cameraman unless a separate extension is included in coverage.

Props, Sets, and Wardrobe — provides coverage on props, sets, scenery, costumes, wardrobe and similar property against risks of direct physical loss, damage or destruction during the specified production period, subject to certain policy exclusions. Coverage for jewelry/furs/fine art is included with sub-limits. Animals can also be added. Coverage may also include loss of use of property of others for which the production is legally liable.

Miscellaneous Equipment — covers against direct physical loss, damage or destruction of camera, sound and lighting equipment, portable electric equipment and generators, mechanical effects equipment, grip equipment, and similar equipment for which the production company is legally liable. Coverage may include loss of use of property of others for which the production is legally liable. This coverage generally extends to cover physical damage to rented vehicles also.

Extra Expense — indemnifies the insured for extra expense incurred as a result of interruption, postponement or cancellation of a declared production as a direct and sole result of loss of (including damage to) property or facilities contracted by the insured (props/sets/wardrobe, miscellaneous equipment, third party property) in connection with the production insured. Coverage extensions are available for civil authority, ingress/egress, imminent peril, power interruption and strikes.

Office Contents — provides coverage on office property and computers, including laptops and similar property against risks of direct physical loss, damage or destruction during the specified production period.

Money & Currency — provides coverage for actual physical loss of funds during production (i.e., petty cash) against robbery, theft, embezzlement, or forgery of checks.

Q: Still have questions about your project, or have a specialty risk? No problem. US-based filmmakers can contact the LA office:

14156 Magnolia Blvd., Suite 200
Sherman Oaks, CA 91423
PH: 424 529 6701
Email: LAoffice@frontrowinsurance.com

If calling from the United States, contact:
Mike Groner
Ph: 424-529-6704
Email: mike@frontrowinsurance.com 

for California:
Kathryn Hoffman
Ph: 424-644-1411
Email: kathryn@frontrowinsurance.com

Kent Hamilton
Ph: 424-529-6700
Email: kent@frontrowinsurance.com

Doug Hodges
Ph: 424 329 2480 
Email: doug@frontrowinsurance.com

for New York:
Stacie O'Beirne
Ph: 646-849-4114
Email: stacie@frontrowinsurance.com

for Nashville:
Tom P. Corley
Ph: 615-326-4226
Email: tom@frontrowinsurance.com

RELATED:

Getting a film permit in Los Angeles / film permits LA

Book on Amazon: Film Insurance 101

FREE eBook: E&O Insurance 101

Topics: Short Film Insurance, Film Producer's E&O Insurance, DICE Insurance, US Film insurance broker, non-owned auto insurance, Third Party Property Damage, Workers Compensation

Video: What is a Premium? What is a Deductible?

Posted by Grant Patten on Apr 28, 2020 7:54:34 AM

What is a Premium? What is a Deductible?

Disclaimer: the deductible amounts disclosed in this video are current to April 2020 and are subject to change.

What is an insurance premium?

An insurance premium is the amount of money an individual or business pays for an insurance policy. Premiums are collected and kept in reserve in order to pay out claims as they arise. The insurance company must anticipate how much premium they will need to collect in order to have the funds available to pay out losses when they occur. In layman’s terms, they have to make an educated guess.

Wondering why your premium has changed? Well, the changes in premiums this year are a reflection of the overall loss ratio on the insurance program. In order for an insurance program to remain viable, the amount paid out in losses cannot exceed the amount collected in premiums.

What is an insurance deductible?

A deductible is the amount of the loss that you are responsible for covering before the insurance policy will respond. Say you have a USB drive stolen. Replacing it would cost $60, but your deductible is $350. Although, “technically” the claim would be covered, it is below your deductible, so the insurance company wouldn’t be responsible for paying any part of the claim.

Another example: you drop your camera, but it only costs $200 to fix. Although it is the kind of damage that would be covered under the policy, you are responsible for the first $350 of the loss. In this case, again, the insurer would not have any responsibility to pay the claim, because the expense was not more than the $350 deductible.

If you damage a $500 lens, though, you would pay for the first $350 (your deductible), then the insurance company would cover the next $150.

A review of the Front Row online insurance program deductibles (in Canadian dollars):

Photography insurance (photographer.frontrowinsurance.com) deductibles:

  • Equipment deductible: $350 per occurrence
  • Photographer’s Enhancement Pack deductible: $500 per occurrence
  • Theft from an Unattended Vehicle deductible: $2,500 per occurrence
  • Outside Canada and United States of America (“Out of Country”) deductible: $750
  • General Liability deductible: $500 per occurrence

The deductible applies to any one incident, not per item. Only one deductible, whichever is highest, would apply per claim.

DigiGear insurance (digigearinsure.frontrowinsurance.com) deductibles:

  • Owned Mobile Equipment  - $1,000
  • Owned Fixed Equipment - $1,000
  • Rented Equipment - $1,000
  • Lessors' Contingency Coverage - $1,000
  • Commercial General Liability - $1,000

Short Shoot insurance (shortshoot.frontrowinsurance.com) deductibles:

The rented equipment deductible is $1,000 per event. This applies to any one incident, not per item.

Musical instrument insurance (musicians.frontrowinsurance.com) deductibles:

The equipment deductible is $250 per claim. Again: This applies to any one incident, not per item.

SOLO Theatrical Insurance (stagelive.frontrowinsurance.com) deductibles:

The deductible for Each Occurrence is $500.

Event insurance (events.frontrowinsurance.com) deductibles:

  • Rented Equipment Coverage: $500 Per Claim
  • Rented Tents/Marquees: $250 Per Claim
  • Wedding Enhancement Package Coverages: $250 Per Claim
  • Birthday Party / Bar/Bat Mitzvah / Anniversary Package Coverages: $250 Per Claim
  • Cancellation Coverage: None
  • General Liability, Each Occurrence: $500 for claims of Bodily Injury / Property Damage
  • Tenant Legal Liability: $500 Per Claim

Workplace Office insurance (workplaceinsure.frontrowinsurance.com) deductibles:

There are various deductibles under the Workplace policy. The deductible will depend on the coverage. For example, the deductible for theft of office property is $500.

Cyber Hack insurance (hackinsure.frontrowinsurance.com) deductibles:

A basic cyber insurance policy would generally come along with a $1,000 deductible.

Get Insurance with Front Row

Whether you’re interested in film insurance, photography insurance, event insurance or another insurance product, consider Front Row Insurance for your insurance needs.


Related:

Topics: musical instrument insurance, Short Film Insurance, Entertainment Insurance, film insurance premium, Office Contents Insurance, Theatre Insurance, event insurance, photography insurance, DigiGear, Cyber Insurance

Filmmakers and Producers Insurance

Posted by David McLeish on Nov 5, 2018 12:18:55 PM

film producers insurance

film producers insurance

Let’s Make Art Together.

You’re a prolific filmmaker with a full production slate. Like most creative people, you‘d rather focus on your work. The problem is that since each project requires its own insurance policy, it often feels like the more you work, the more time you have to spend dealing with insurance!

Worse, while you’ve always received good service from your broker, they don’t quite “get” what it is you do. It’s a hassle getting certificates for your vendors and cast and crew. Too many irrelevant questions are asked by the underwriter. When something unusual comes up like a drone shoot or stunts, there are delays. There has to be a better way.

Luckily, there is. Unlike most insurance professionals in Canada, we specialize in the business of entertainment insurance. It’s not just what we do, and what we’re good at; it’s what we’re passionate about.

Front Row Insurance Brokers is the largest entertainment insurance brokerage by premium volume in Canada, with offices in Vancouver, Toronto, Montreal, Halifax, Nashville, Los Angeles, and New York.

In 2017, we insured over $4 billion of productions worldwide and wrote more than $45 million in film premium. The 38 dedicated film insurance staff in our Canadian offices are experts in TV and film production, so you know you’ll be dealing with someone who understands what you do. Even better, we have staff licensed in every province.

Filming in sunny Saskatchewan? No problem, we’ll get you covered. Perhaps most importantly, as part of our commitment to exceptional service, we will work hard to ensure that the money owed to you is paid if you ever need to make a claim under your policy.

Moreover, our excellent working relationship with the five major companies writing entertainment insurance in Canada ensures that you get more than just the best rates. It also affords us the opportunity to design studio programs which offer coverage tailored to the unique needs of your production slate. A studio program is a custom policy designed by the broker working in concert with the insurer. The advantage to you is that it’s designed around your specific production slate. You won’t have to pay for coverage you don’t require, and your policy will be customized for you by experts in entertainment insurance who understand your needs. Some examples of the benefits available under a studio program include:

  • No cast medicals required for film budgets under $15,000,000, rendering it unnecessary to schedule and attend tedious doctor exams, and saving you the $130 exam fee.
  • Automatic coverage for test shoots, promo shoots, pilots for budgets up to $50,000: no need to call us.
  • Quotations provided immediately for any new project. Rates locked for 12 months. Coverage can be activated and certificates issued on the same day for office rentals, payroll, etc.
  • Insurance wherever you film.

Let us leverage your production slate, combined with our premium volume, for your advantage. We pride ourselves on being the simplest line item on your budget—fast, without the drama.

We can also offer you a Low-Claims Bonus: ask us how.

RELATED:

THE BEST CAMERAS FOR FILMMAKING

HOW TO PROTECT YOUR CAMERA LENS(ES)

Topics: Film equipment insurance, Short Film Insurance, Film Insurance, Entertainment Insurance, Cast Insurance, Film permission, production liability insurance for films, Public Liability Insurance for Film, insurance for film set

How to choose between a DICE Policy and a Short Shoot policy*

Posted by David Hamilton on Sep 22, 2017 4:56:00 PM

HOW TO CHOOSE BETWEEN A DICE POLICY AND A SHORT SHOOT POLICY*

A Short Shoot Policy is intended for those producers who are conducting shoots lasting 15 days or less, using rented equipment and with budgets of $250,000 or less. This makes it ideal for short film producers, student projects or anyone else who will be filming on a short term basis and requires insurance. Equipment coverage can apply to any rented film production equipment as well as rented props, sets and wardrobe up to the specified policy limits. Commercial General Liability coverage can also be purchased either together with equipment coverage or on a standalone basis. If you would like a free non-obligation quote or to purchase coverage, visit our Short Shoot policy website here. *Currently we are only able to provide this coverage to Canadian Producers. If you require this coverage from outside of Canada please contact your local Front Row office for assistance.

A DICE Package Policy is intended to provide insurance for documentaries, corporate videos, commercials, educational films, music videos and more. It is best suited for producers who are planning to produce projects other than feature films or TV series. This can provide coverage for a full year for Rented and Owned equipment as well as Props, Sets and Wardrobe, Office Contents, Vehicle Physical Damage and more. Commercial General Liability coverage can also be purchased either together with the equipment coverage or on a standalone basis. If you would like more information or to request a free non-obligation quote, please visit our DICE Policy website here. If you are a US based Producer please click here instead.

For more information, view the infographic below:

DICE - Short Shoot Infographic (Canada).jpg

 

related post:

How to choose between a DICE Insurance Policy and a DigiGear Policy?

 

Topics: Film equipment insurance, Short Film Insurance, Commercial Production Insurance, Documentary Insurance, DICE Insurance, corporate video insurance, music video insurance, Educational Film Insurance

The Annual Film Production Insurance Package Made Easy

Posted by David Hamilton on Sep 13, 2017 4:46:15 PM

ANNUAL FILM INSURANCE - WITH COUPON!

The Annual DICE Insurance Policy takes the hassle out of purchasing film insurance for your film productions. It is flexible, affordable, and customizable designed to fit your individual needs. 

This policy will not only save you time, it will also save you money. Insuring all your productions under one policy helps to cut the costs, as it will reduce the administrative expenses associated with insuring each production individually, and these savings are passed onto you.

The Annual DICE Policy is specially designed to provide: insurance for commercials, documentary insurance, corporate video insurance, educational film insurance, music video insurance, training video insurance, short film insurance, and still photography insurance.

Check out our Infographic below for coupon savings and more. Coupon not valid in QC, ON, SK.

DICE Infographic

Interested in seeing more? Visit the Front Row Insurance Website for a free no-obligation quote!

Topics: Short Film Insurance, Film Insurance, Entertainment Insurance, Commercial Production Insurance, Documentary Insurance, DICE Insurance, corporate video insurance, music video insurance, Educational Film Insurance

Effortless and Affordable Short-Term Film Insurance Canada

Posted by David Hamilton on May 27, 2016 3:49:23 PM

short film insurance


Short film insurance (Canada) can be arranged quickly through Front Row. Front Row's online short shoot program is quite popular with new and established filmmakers because of the low cost and the simple process to arrange a policy.

Note: the online program is for individuals who live or have a company in Canada at this time; however, worldwide coverage is available to Canadian filmmakers. For a US short film insurance quote, complete this form.

To provide you with a short film insurance quote, we need a few details. The fastest way to receive a quote is to complete this short application telling us about your project:

Get a 2 Minute Quote

We can provide Short-Term Equipment Insurance starting at $300 CAD!

If you would like to add film location liability for one week , we can do so for a small additional premium.

Front Row Insurance can also provide affordable coverage for: 

If you would like an annual policy to cover multiple productions, please visit our D.I.C.E Page (Documentaries, Industrial Films, Commercials, Educational Films – it also covers short shoots, music videos and feature films with lower budgets).

Topics: Short Film Insurance, Film Insurance, Film insurance broker, Film Location Insurance, film school insurance

First broker to offer short term film insurance policies online

Posted by Meghan Stickney on Oct 15, 2014 12:01:29 PM

new short term production insurance online program

Vancouver, Canada -- October 15, 2014 -- Front Row Insurance Brokers Inc. is pleased to announce the launch of their new short term production insurance online program. This will allow filmmakers to obtain quotes for short term projects in less than five minutes 365 days a year 24-hours a day. A policy can be purchased online and all associated documents can be downloaded in less than ten minutes. Given the flexibility of the online tool, filmmakers can purchase coverage on the day they need it. A large web development firm worked with Front Row to help bring the best product to market.

Clients can choose short term equipment insurance for their rented gear, and/or short term general liability to protect filming locations. Coverage can also include props, sets and wardrobes, as well as rented production vehicles. Policy terms are for up to 15 days and coverage is provided anywhere in Canada and the United States. Equipment rental company and location certificates are unlimited and provided for free. The certificates are delivered instantly. Rented gear is covered for theft, damage and loss of use. All equipment is covered for replacement cost. Equipment includes, but is not limited to: audio, lighting and film gear. The program is available to filmmakers across Canada.

The types of short shoots that can be covered are: short films under 30 minutes in length, commercials, music videos, documentaries, public service announcements, corporate films, teasers and more. Some examples of pricing for 15 days of coverage are:

• $20,000 rented equipment coverage costs $93 CAD, while $100,000 costs $147 CAD
• $2,00,000 location liability coverage costs $450 CAD, while $5,000,000 costs $600 CAD
• $1,000 deductible for gear

“Short term filmmakers are the future of the film industry and the future of our business,” said David Hamilton, President of Front Row Insurance in Vancouver. “We wanted to find a way to lower the cost to insure short term films as much as possible and deliver the coverage with a minimal effort and time. Our soft launch at the 2014 Vancouver International Film Festival Industry Forum resulted in excellent feedback from filmmakers.”

The website is: www.frontrowinsurance.com/short-term-production-insurance

About: Front Row Insurance Brokers Inc. is an independent film insurance broker that works on behalf of filmmakers to transfer the risks of filming to insurance companies for the lowest possible cost. Should a claim occur, Front Row ensures that the filmmaker receives the money that they are owed per the insurance policy, as quickly as possible. Front Row has offices in Vancouver, Toronto, Montreal and Los Angeles.

full-entertainment-insurance-logo_film-music-production1-01


Contact:
David Hamilton, President
david@frontrowinsurance.com
Ph: 604-684-3456

Topics: Short Film Insurance

FILM PRODUCTION INSURANCE PREMIUMS: ONE WAY TO SAVE MONEY

Posted by David Hamilton on Jun 30, 2014 5:03:00 PM

Film set outdoors / film insurance

save money on your film insurance premium

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 applied against the net budget.

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?

Topics: Short Film Insurance, Film Insurance, Entertainment Insurance, film insurance premium

Obtaining Insurance for your Short Film | Short Film Insurance Canada

Posted by David Hamilton on Dec 30, 2013 3:59:00 PM

Insuring your short film is a fast, easy process WITH Front Row


Our Short-Term Production Insurance program can include the following coverage for up to 15-days: (note that the online program is for Canadian-based producers only; complete this form for a US short-term film insurance quote)

  • Insure $10,000 of rented equipment for $99
  • Insure $50,000 of rented equipment for $137
  • Insure $100,000 of rented equipment for $184
  • Insure $250,000 of rented equipment for $236
  • Short-Term Rented Equipment Limits up to $1,500,000

Get Your Online Quote Now

The locations that you film at will usually want to see proof of your location liability insurance before the property owner will give you access to film. Liability insurance will repair any property damage that your crew causes at a location. This insurance will provide you with a lawyer if you are sued.

The equipment coverage will pay to repair or replace lighting, cameras and other gear that you damage. The equipment will be covered anywhere in Canada or the USA. You will be covered even if your gear is lost or stolen while travelling.

Important questions to answer for a short film insurance quote:

  • Who is the named insured? This can you personally or your company if you have one.

  • What is your address and email?

  • What is the approximate value of the gear that you are renting?

  • How many minutes will your finished project be?

  • How many days will you be filming?

  • Where will you be filming?

  • What is the budget of your shoot?

  • Will there be any stunts or special effects?

We can also provide you with a year of coverage if you have multiple projects and we can cover your larger projects such as a feature or a series.
Click here to get covered now! ▸

RELATED LINKS:

Film Insurance 101 & How to Protect Your Film Project

Film Production Insurance: Why it is needed

Pre-Production Insurance

Film Production Insurance

How the Premium is Determined

Short Film Insurance

DigiGear Insurance

Props/Sets/Wardrobe Insurance

E&O Insurance

DICE Insurance

Third Party Property Damage

Crew Vehicles

Umbrella Vs. Excess Liability

Commercial General Liability

Negative Film / Videotape and Faulty Stock

Workers Comp

Cast Insurance

Extra Expense (EE)

Foreign Locations

Claims

Topics: Film equipment insurance, Short Film Insurance, Film Insurance, film school insurance

Risk Assessments for Film Productions

Posted by David Hamilton on Nov 20, 2012 1:44:00 PM

risk assessments for film productions

Most workplace injuries and diseases can be prevented by identifying and dealing with potential workplace hazards and unsafe work practices.

Q. When do you need to conduct a risk assessment?

A.  For each potentially hazardous activity or situation involved in your production. I.e.,

Conducting FILM PRODUCTION Risk Assessments – 3 basic steps

  1. Identify potential hazards and unsafe work practices
  2. Assess the risks associated with the potential hazards and/or unsafe work practices
  3. Deal with the potential hazards and/or unsafe work practices

Remember: Write your risk assessments down on paper; that way, they can be attached to call sheets and used as a reference in case they are needed at a later date.

A specialized film insurance broker is best able to present the risks associated with your film production to the film insurance underwriter to ensure you receive the best coverage and premium for your production.

Front Row Insurance Brokers are specialized Film Insurance Brokers. Please call us if you have any questions.

The above information is  based on WorkSafe – Focus on Safety – Safe Work Practices for Film and Television Production in B.C. (2001 edition)

Topics: Short Film Insurance, Film Insurance, Entertainment Insurance, Film insurance broker, Film Production, Film Insurance claims, Film Producers, Film Production Companies, Cast Insurance