Film Insurance 101: Why Is It Needed?
You might be wondering why you need film insurance in the first place. It’s not just another cost to add to the list – errors and omissions for film insurance is essential to ensuring that your production is covered if anything unexpected should happen during production. As a producer looking for film insurance companies with which you plan to compile a plan designed to protect your new project, you will want to work with someone who knows your individual requirements and the specific risks that you face. Marquee Insurance is the film insurance provider of choice for all your film production insurance, film liability insurance and entertainment insurance needs.
You need film insurance for legal, property and contractual reasons. Many financiers and location hosts will require that you and your team carry a certain minimum amount of production insurance in order to go about making your film. This includes adequate errors and omissions insurance to protect against claims of alleged libel, slander, defamation, and more. For example, if you were renting a building for a shoot the owner of that building will want to ensure that they are protected if anything should damage the location or if someone where to be injured on set. As a producer, you are responsible for any rental equipment you are utilizing during production and as such will need coverage for damage or loss to certain valuable assets. Lastly, if you work under a distributor or a broadcaster, your contract will more than likely require you to carry film insurance with the necessary errors and omissions coverage.
Like with any insurance policy, it’s better to be safe than sorry. You will want to ensure you have a certain amount of coverage in place for if anything goes awry during production. You certainly would not want to have to cancel a project due to unforeseen circumstances. Marquee Insurance looks after your project like it is it’s own and makes sure that everything in production flows as smoothly as possible so you only need worry about making the magic happen.