If you are a producer in the entertainment industry, you need to protect your projects against liability for injuries, accidents and other unpleasant things that happen during the course of production. You need entertainment production insurance. If something happens and you do not have insurance, as the producer, you can be held responsible for the problem. There are two kinds of production insurance that may be of interest to you – an annual policy and short-term policies.
The annual policy is good for active production companies and freelancers who have multiple productions a year. It can cover multiple projects as long as they are enacted under the same company. If you own your equipment instead of renting it, it makes sense to have an annual policy, as you can be held responsible if someone is injured as the result of equipment malfunction.
A short-term policy covers your liability on a project-by-project basis. You can use it for a one-day production or a project that takes several months to complete. The important thing to remember is to cover the whole timeframe from prep days to final cut.
Entertainment production insurance is designed to help you avoid the potentially astronomical charges associated with injury and property damage on your watch. Always make sure that you and your business are sufficiently covered.