I need to find an insurance company that understand the needs to a production company, the thing that I'm having a hard time finding is coverage for when I film large concert events that request 2M of Liability and 2M in Property to cover a video truck, plus the occasional video camera or deck rental. I had insurance with The Hartford but when I change company structure and try to get them to cover the new company they said their insurance (which I had be paying for for 5 years) really didn't cover that type of business.
Any suggestions would be appreciated.
BTW I have gotten short term quote for a 3 day event that I'm doing at the end of the month and it is $1800 US which seems high because that is what I was paying per year, but like I said about I may not of been covered as much as I thought.
1. Buy a blanket production and liability insurance and
2. Buy limited office insurance and then purchase event insurance for each production you do.
The best model for most producers is to buy a blanket production and liability insurance. This will cover your general property and liability insurance for your office and all location shoots or projects you do. However, the types of projects covered vary so you need to make sure that the policy clearly covers the work that you do. You can not get a blanket insurance if you do features, but you can do so for documentary work, commercials, and I believe live shows (although I am not sure). This type of policy may cost you between 5K-10K depending on your size.
Some people obtain a basic office policy that does not cover your business actions. That is, it only covers liability and property for your office. Then cover each project separately. The basic policy may cost you in the 1-2k range plus each location project. So you need to do the math based on how active you are and determine which is best for you.