any low-rate production insurance companies?

G

Guest

Guest
if you have any info on production insurance companies who offer student filmmakers coverage at a reasonable rate...pleae email info to Ann Lerner (alerner@cabq.gov). How do indy filmmakers on a verrrry low budget secure insurance? (other than thru the coverage of their particular film school). Thanks, - Ann Lerner
 
You can call me skeptical,
But I would imagine that a student filmmaker who is stepping behind the viewfinder of a 35mm camera for the first time is treated by production insurers like car insurers treat a 16 year old who's stepping behind the wheel of a brand new mustang convertible for the first time. Sure, you’ve had the training, gotten a certificate and/or permit, but you have no legitimate record for referencing your performance in the real world.
There’s going to be one hell of a premium to pay.
Is this information going to be used for a story?
 
Here's the deal, as it's been told to me on insurance..

It's not like car insurance... basically, they're supposed to operate on a standard percentage of your budget...

This is why many production houses, in both film and video, budget the standard rate into their production budgets... I'll have to check on my numbers, but I believe it's around 10 to 12 percent.

As far as premiums go... I'm currently under the impression that it's a flat rate type of situation.

As far as being new... or just out of school... it's more about wether you have the money or not... they wont insure you for free... but if you have the money, how can they say no...

Also, when you're in school... there is some measure of insurance that the school should already have... though I'm sure that vary's from school to school.

Insurance is important...
once you've acquired insurance for a film... you'll be able to recieve lower rates on gear rentals... which can save you money in the long run.
 
I remember hearing about how Ridley Scott's productions were huge liability issues back in the day. No companies in the States would insure his films because he'd destroy cameras left and right; it didn't matter how successful the film was, the obliteration of 6 figure cameras wasn't in the budget, and someone had to pay for it. I bet the DP's loved him.
So, everytime Ridley Scott was signed on to do a film, the project had to be insured by Insurers of London.
 
But I would imagine that a student filmmaker who is stepping behind the viewfinder of a 35mm camera for the first time is treated by production insurers like car insurers treat a 16 year old who's stepping behind the wheel of a brand new mustang convertible for the first time.

I believe you'll find that film insurance policies cover accidents, but generally don't cover negligence. So if that 16 year old has a legitimate accident with a camera, then the insurance will pay out, but if they destroy it through negligence they'll find they have a big bill to pay to the rental company... therefore they're not much more likely to have to pay out than for an established film-maker.

Certainly that was true of the equipment insurance I had for the 16mm short I made a couple of years ago.
 
Digigenic said:
...everytime Ridley Scott was signed on to do a film, the project had to be insured by Insurers of London.

Well, ultimately all insurance in the world ends up going through Lloyd's of London for reinsurance, but it's an interiesting story anyway.

What kind of insurance are you talking about? Producer errors and omissions? Lost days due to weather? Equiment coverage? Lost negative? Public liability?

If you are talking about real amateur filmmaking where no money changes hands, then you are probably covered under homeowner's insurance for any damage to persons or property caused directly by you and if you're using your own camcorder, it's probably covered as well if it's damaged or stolen. A minor would be covered under his parents policy. Renter's insurance works in the same way for apartment dwellers, except that it's even cheaper. So start with your State Farm dude/dudette. Tell 'em what you want to do and find out what's covered. If you want something extra, they could tack it on for a few bucks more.

If on the other hand you are talking about full-blown production insurance, the kind they want you to have for a permit in your city or state, then you need to contact your state or city fillm board and let them guide you.

There's no simple answer to cover all needs. Location matters - less opportunity for doing damage out in the woods than in a china shop. Can you get waivers from you cast and crew? How big is your cast and crew? And on and on and on...
 
to get a general $1 million dollar liability policy you end up having to pay about $50 a day, however, you have to purchase at least 12 days for use within a six month period.

So the minimum you can spend is $600.

NOTE: This is just for liability coverage, which does not include insuring your rental equipment.
 

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