step 6 music video process

droduction Insurance

With every video production, there's a risk for accidents, loses or other inconveniences that may ruin assets that are either irreplaceable or very expensive to replace. There are also other cases where dangerous stunts or handling of potentially dangerous elements are required during production. In these situations it is very important that the production company provides insurance to cover for these potential inconveniences. In some cases, when renting expensive motion picture equipment, it is a requirement from the company renting the equipment that this is covered by production insurance.

The cost of production insurance works in a similar way to any other insurance policy. It depends on the conditions in which the production will take place from the location to the stunts, weather conditions, cost of equipment, third party liability, and so on.

There are cases where productions are executed in a very controlled environment and where recreating assets in case of loss may not be as expensive. In such cases, it may be okay to not get a production insurance policy as it may end up being more affordable to cover the costs of redoing than to pay for a policy that after all, may not even be needed.