Video Production Insurance
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Video production insurance
Video production commercial insurance NZ
Video production insurance, simply put, is a type of insurance that covers risks linked to video production activities. This can range from damage to equipment and location accidents to copyright issues. Just as you'd insure a car against accidents, video production insurance covers a business for unforeseen events when producing online content, such as videos for YouTube or ads for social media platforms.
Why is video production insurance important?
In the dynamic world of video production, unpredictable things can happen. Equipment can get damaged, accidents might occur on set, or a hired location might suffer some damage. Video production insurance provides a safety net, ensuring that a small hiccup doesn’t turn into a financial nightmare.
In New Zealand, the average cost of video production insurance typically ranges between $75 – $150 per month.
It’s crucial to have video production coverage if your business:
- Uses expensive equipment
- Films at external locations
- Hires out equipment or venues
- Employs crew members
What insurance covers are typically included in video production insurance?
Public Liability
This policy covers common video production business risks including bodily injuries, customer property damage, and advertising injuries. Public liability is required for most video production projects.
Best For
- Business Accident Coverage
- Third-party Damages
- Legal Cost Protection
Statutory Liability
This cover is a type of protection that helps video production cover costs if they accidentally break certain laws or regulations.
Best For
- Unintentional breaches protection
- Legal costs
- Fines and penalties
Video Production Equipment Insurance
Video production equipment insurance is a type of coverage that helps protect video production businesses from the loss or damage to their equipment.
Best For
- Mishaps
- Theft
- Fires
Professional Indemnity
This coverage protects video production businesses from financial losses if they make mistakes or are accused of negligence while doing their job.
Best For
- Negligence claims
- Errors & Omissions
- Professional mistakes
Business Vehicle Insurance
Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.
Best For
- Repair costs
- Third party damages
- Injuries
Cyber Insurance
Insurance that helps protect video production businesses from financial losses caused by cyber-related incidents, like data breaches and computer attacks.
Best For
- Ransomware attacks
- Phishing scams
- Cyber extortion
How much does video production insurance cost?
Video production insurance premiums are calculated on several different factors including:
- Types of cover
- Turnover
- Location
- Claims History
Video production insurance in NZ typically costs between $75 to $150 per month
Who needs video production insurance?
Any business or individual involved in the process of creating video content should seriously consider video production insurance. This ranges from independent freelancers, YouTubers, and vloggers, to small production companies focusing on ads or educational videos for online platforms.
No, it’s not legally required. However, many venues and clients might insist on it before collaboration.
Some do, but you might need to inform your insurer and potentially pay an additional premium for international coverage.
How do I get a video production insurance quote?
We understand the unique needs of video production businesses in New Zealand. Leveraging our extensive industry knowledge and partnerships, we provide comprehensive video production insurance quotes from the top insurers in the country and globally. Entrust us with your requirements, and we’ll ensure you receive the most competitive and tailored coverage options available.
To obtain a video production insurance quote we may require you to provide some fundamental details about your business, such as:
- The name of your business
- The total number of employees
- Predicted annual income
- Years of experience in the industry
How do I get proof of video production insurance?
You can usually get proof of video production insurance same day when you purchase insurance through Gerrards.
Acquiring a video production insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or project.
To obtain insurance coverage promptly, contact one of our photo and video insurance brokers.
What does video production insurance not cover?
Wear and Tear
Equipment like cameras or lights will naturally degrade over time due to consistent usage. This normal wear and tear isn’t considered an insurable loss. It’s essential to maintain your equipment to ensure longevity.
Contractual Liabilities
If you’ve signed a contract where you’ve agreed to bear specific liabilities or costs, the insurance may not cover these, unless these are liabilities you would have been subjected to regardless of the contract.
Intentional Damages
Insurance aims to protect against unforeseen accidents. If someone on your team purposefully breaks or damages equipment, this is considered intentional, and thus, the policy won’t cover it. This is to prevent fraudulent claims or reckless behavior.
Other common questions about video production insurance
Most policies will include cameras, tripods, lights, sound equipment, computers used for editing, and other related gear. It’s vital to provide an exhaustive list of all equipment to your insurer to ensure everything is covered.
No. Many insurers offer annual policies that cover all your projects within that year. However, larger projects with unique risks might require a project-specific policy.
Regular employees are usually covered. However, freelancers or contractors might require you to extend your coverage or add them as additional insured to ensure they’re protected during the project.
Most policies will cover equipment, whether owned or rented. However, there might be specific stipulations or limits to rented gear coverage. Always disclose if you’re renting gear, and specify its value, to your insurer.
