Being in the film production industry may seem all glamourous and fun from afar, but there are, in fact, many responsibilities and complications that a producer goes through to use their talent in making films.
One of those responsibilities is getting protection for their work of art while it’s being made to avoid any added expenses after an accident or claim is made from a third party.
What is Film Production Insurance?
Film production insurance is a policy designed to protect the film company -cast and crew- from any liability and risk factors that are involved in producing a film
Each film production insurance policy is different according to each film company’s needs and possible risks.
However, the ultimate goal of film production insurance is to cover and protect the crew during or after shooting a film.
Why Do You Need Film Production Insurance?
You might think film production insurance is unnecessary and only an added expense, but you’d be exposing yourself, your team, and your film to risk.
In addition, almost all locations you choose to shoot in will ask you to show evidence of insurance to cover property damage and bodily injury to third parties.
Any property owner would want to protect themselves from the possibility of a lawsuit as a result of your film production on their property.
There’s also the fact that any film distributor you sign a contract with will require having insurance to be able to access payment draw-downs.
Types of Film Production Insurance
- Short-term film production insurance
This type of film production insurance is for a single project if you’re not with a company or for producers working on a short film.
Even if you’re a company, you can still get this type of insurance policy on a project-by-project basis.
- Long-term film production insurance (Annual film production insurance)
A long-term policy, also known as an annual film production insurance policy, is for active production companies constantly having projects.
This is also a good policy if you own film production equipment that you rent out. It can work for producers of independent films.
While freelance producers are more likely to choose short-term fil production insurance, if you’re producing around 4 projects per year, you can still opt for an annual insurance policy.
One of the best things about this type of policy is that it can cover various types of productions whether it’s movies, television, commercials, documentaries, music videos, animation, etc.
What Does Film Production Insurance in Ontario Cover?
There are a set of basic coverages that are in any Ontario film production insurance policy along with other optional add-on coverages.
1. Commercial General Liability Insurance (CGL)
This is one of the most basic and most important coverages on any Ontario insurance policy.
It offers protection from any third-party claims or lawsuits such as a slip and fall, libel, false advertising, slander, or property damage.
2. Errors & Omissions (E&O)
This coverage is concerned more with anything related to claims of negligence or errors during the production of a film that causes any kind of loss or injury.
This mainly comes to use if you face any trouble with a client whether it’s for meeting a deadline, claims of not delivering required service or claims of plagiarism in which E&O insurance would cover all legal fees.
This coverage can also include intellectual property violations, character defamation, and unauthorized use of a product.
3. Commercial Property Insurance
Another essential coverage, commercial property insurance in Ontario covers the use of any property for business purposes.
In an Ontario film production insurance policy, this means covering any damages or loss while being used by an insured film production company.
The coverage can also be extended to include the building contents if they were damaged, lost, or stolen.
Other optional add-on coverages may include:
- Cast coverage
- Drone liability insurance
- Copyright insurance
- Equipment damage
- On-set injuries
- Workers’ compensation
How Much Does Film Production Insurance Cost in Ontario?
Like any other insurance policy, film production insurance in Ontario doesn’t have its own set prices.
That’s because each policy will differ according to the number of coverages included, the policy limit, the deductible, value of assets, years of experience, number of employees, location, and annual revenue.
That’s why you should consult with an Ontario insurance broker regarding your film production needs and your specific situation to get an estimate on what it would cost and shop around for quotes to get the best possible deal.