Production insurance for indie feature: Anyone have a real low-bidder?

[Stephen Pruitt]

Hi all. . .

I'm in a bind. . . and it's getting tighter by the hour. I'm looking for the lowest possible quote on production insurance for a $160,000 feature. We'll be shooting it over the next four months. NOTHING dangerous at all. Worst we're doing is mounting the cameras on a car.

Do you folks know of anyone noted for particularly low rates for this sort of coverage? I'm just getting the worst possible quotes (like $20,000!).

I've got to put this to bed pronto.

Thanks.

Stephen

 

[Bruce Allen]

My friend Zak (who has shot a low-budget feature or two) would probably recommend these guys:
http://www.fracturedatlas.org/site/liability/Film

BTW, before I knew of Fractured Atlas, I remember the insurance companies wanting me to have to pay $2500 for shooting a 2-week ultra-low-budget indie film in Japan. That was 1/6 of the total budget incl airfare, rentals, accom, etc!

I was like "hey, look, I KNOW I am not doing anything even remotely dangerous. Is there some kind of deal where I can take more financial responsibility if I actually screw up, but pay less up front?" No deal.

In the end I figured out a way to make it work (*cough* my friend who had insurance offered to make it his company shoot *cough*). But it's stupid.

Anyway, maybe those Fractured Atlas guys are better.

BTW, is the reason insurance is so high in America because everyone runs around suing each other?

If I'm running a set, I make sure it's a safe environment, period. I'd say an establishment with one of our film shoots going on is LESS likely to have stuff stolen, damaged or set on fire than on a normal day when it's open to the public.

That said, there are a lot of reckless idiot filmmakers. Hmm, maybe someone needs to start a "careful indie filmmaker" insurance policy business which evaluates the risks more accurately.

Obviously if doing anything dangerous, I'd get a bulletproof insurance policy. But to me the rule is:
- first, protect cast and crew by NOT DOING ANYTHING EVEN REMOTELY DANGEROUS IN THE FIRST PLACE
- second, pick key crewmembers who care about safety (and who hire other people who care about safety) so this ethos is carried through
- third, insurance

Bruce Allen
www.boacinema.com

 

[Shawn Nelson]

$20,000 for 4 months? Yikes. Given the sheer length of time of your shooting schedule, perhaps you should quickly look into the rates of creating a business (incorporating) and insuring the business for the year and haveing your business own the shoot.

 

[Erich Ocean]

I second talking to Fractured Atlas. Rates are reasonable there.

 

[Andrew J.]

Hi all. . .

I'm in a bind. . . and it's getting tighter by the hour. I'm looking for the lowest possible quote on production insurance for a $160,000 feature. We'll be shooting it over the next four months. NOTHING dangerous at all. Worst we're doing is mounting the cameras on a car.

Do you folks know of anyone noted for particularly low rates for this sort of coverage? I'm just getting the worst possible quotes (like $20,000!).

I've got to put this to bed pronto.

Thanks.

Stephen

Before buying production insurance from any company make sure to check they are licensed in your area to actually sell it. All producers (companies agents that sells insurance) must provide you a agent license number on request. Many states including California have a online insurance license search, http://www.insurance.ca.gov/license-status/

$20,000 seems to be a very high but, depending on the coverages and deductibles it may be suited.

From what I've seen in the past, insurance from most companies covering misc rental equipment and one million dollar liability costs around <$900 weekly or around $6000 per year. (For low budget productions / no stunts)

Many insurance companies including auto-coverages have changed over to a insurance rating system this year, you may be getting a very high quote because of the company/person involved insurance score (have they had claims in the past or have never bought insurance before?).

I'd hate to recommend a insurance Producer or company because they all have faults but I'd recommend to look threw your old insurance certificates received from previous clients and give the producers a call for a quote.

 

[Rob Gardner]

Are you sure you want low-bid insurance? I pay $20,000 per year.

 

[Steve Das]

BTW, is the reason insurance is so high in America because everyone runs around suing each other?

Well the richest man in the U.S. is Warren Buffet and he owns railroads,
candy companies, and you guessed it...lots of insurance companies.
He even owns the insurance companies that insure the insurance
companies (no joke they're called reinsurance companies).

Thing is when people pay high insurance for years on end..well when
something does happen to them..they see it as an excuse to get back
all the money they've paid in..so they exaggerate their claims.
High rates lead to insuarance fraud...which leads to higher rates..and so on...