The production insurance brokers at MFE Insurance recently released a blog post explaining the importance of short term production insurance. This type of insurance can help filmmakers in the production industry protect their work, crew, and finances.
Short term production insurance is available on a per-project basis and is ideal for producers who are only occasionally work. It can be used to cover TV shows, films, documentaries, music videos, web videos, and other entertainment projects. There are several types of short term production insurance available, each of which covers a different area of liability, such as property damage, rented or owned equipment, and workers compensation. This coverage can last anywhere from one day to several months, and producers are able to select the amount of coverage they need to safely complete their project. In some states, production insurance may be required in order to film at locations within the state, and short term options are an affordable way to meet this requirement.
DICE insurance, meanwhile, covers ongoing projects. These policies cover documentaries, industrial work, commercials, and educational programs and typically last for one year. Productions eligible for this type of insurance must be shot only within the U.S. and Canada, and the cost of production cannot exceed $5 million. Qualifying productions cannot contain stunts, fight scenes, guns, pyrotechnics, animals, aircraft, boats, or scaffolding over 15 feet, among other restrictions. DICE policies generally protect shooting equipment, property owned by third parties, wardrobe, sets, props, workers compensation, auto insurance, and general liability protection. Companies creating multiple qualifying productions throughout the year should consider DICE insurance rather than short term insurance. This provides continuous coverage that does not have to be renewed before work can begin on each new project.
Speak to the entertainment insurance brokers at MFE insurance for more information. The agency has years of experience in assisting producers secure the proper protections for their work. Brokers can help you select the right type of insurance and create a custom insurance package that provides comprehensive coverage for your needs. For more information, contact MFE Insurance at 213-266-7990 or online at https://www.mfeinsurance.com.
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