Los Angeles, California (webnewswire) January 16, 2019 – MFE Insurance, a California entertainment insurance agency, recently released a blog educating readers on the different types of production insurance policies it offers. These policies can help protect your company in the event of an on-set accident and more.
Production insurance of any length typically covers some basic incidentals. This includes property insurance, equipment insurance for owned and rented items, third-party property damage insurance, and workers compensation insurance. This type of coverage helps protect you, your crew, and your equipment in the event of an accident, helping pay for legal fees, medical costs, and even replacement equipment if necessary. If you choose not to purchase production insurance of any length, you could risk the possibility of taking significant financial losses and delaying your production schedule while the issue is resolved.
There are several types of production insurance available, each at different price points and lengths of coverage for various types of productions. Short term production insurance is available on a per-project basis, covering the entirety of one project rather than remaining effective for a certain time period. This type of coverage is an excellent fit for TV shows, films, documentaries, music videos, web shows, and other small projects. Long term production insurance covers numerous shoots throughout the year. They are typically used by larger production companies, people who own their own companies, or those who own equipment and rent it to different productions. Independent filmmakers completing four projects per year may also find it beneficial. Annual insurance, which is similar to long-term plans, is ideal for companies producing a large number of films per year and typically has more coverage options.
Speak to the entertainment insurance brokers at MFE Insurance for guidance on what policy to obtain based on your needs. The agency has extensive experience in the production industry and can help you determine which type of insurance coverage is the best option for your needs. MFE Insurance also offers several add-on policies and can create a custom insurance package specifically designed for your production’s needs and risks. MFE Insurance is headquartered at 811 W. 7th Street, Los Angeles, CA 90017. For more information, contact the agency at 213-266-7990 or online at https://www.mfeinsurance.com/.