Does a Videographer Really Need Video Production Insurance?
By: The Athos Insurance Team
Published on: 2/2/2021 3:50:00 PM
Everything you need to know about professional and amateur videographer insurance.
As a creative, the last thing you probably want to read about is insurance. The different types, the different levels, deductibles, you’re probably already tuning out reading this. But as boring as it is to think about, a quick guide to how video production insurance protects videographers can potentially save you a lot of money and stress later on. I promise I will make this as quick and painless as possible. Sure, you may not be a huge production company, but you still want the right type of videographer insurance coverage to protect your business.
Types of Videographer Production Insurance
There are three main types of videographer production insurance that we’ll go over in this post: production equipment insurance, general liability insurance, and third-party property damage insurance.
Equipment insurance covers, you guessed it, your production equipment. You’ve invested in all of this expensive gear, and now you’re finally getting the work that’ll help you pay it off. The last thing you want is to drop your expensive camera-baby and have to start from square one. You’ll want a policy that covers accidental damage and theft, and it should cover the replacement cost value, since equipment tends to depreciate as it gets older and used. Now, if you’re renting equipment for a shoot, you’ll still need to buy insurance on it for the time you’re renting it. Some rental houses will give you the option of buying insurance from them directly, but it’s often more cost-effective to buy your own. It’s always good to shop around for a policy within your range that covers your needs. Most rental houses will want to see the certificate of insurance that proves you have it, if you’re not buying insurance from them directly. Some videographers rent out their own equipment on peer-to-peer platforms. If you’re renting out your own equipment on peer-to-peer platforms, make sure your policy covers you if one of your renters breaks your stuff or runs off with it.
In addition to your stuff, you may need general liability insurance. What this covers you for is, well, general liabilities. Since a favorite American pastime is suing each other, you’ll want to be ready in case you find yourself in a personal injury attorney’s crosshairs. What this means in practice is that if a bystander trips over a cord or impales themselves on a lighting stand on one of your shoots, you’re not going to have to go bankrupt/fake your own death to get out of it. In a business where you’re constantly working with new people, in new places, bodily injury can be more common than you might think.
Another reason to have liability insurance is for property damage. If you’re on location and break a window, or drop a heavy light and dent the floor, that money’s not coming out of your pocket. Some general liability policies don’t include coverage for third-party property damage, though, in which case you’ll have to purchase it separately. Always make sure you understand what a policy covers before you choose one.
What about Amateur and Freelance Videographers?
Don’t talk about yourself that way! But for real, if you’re not getting paid for a film shoot, you may think you don’t need any insurance, but you probably want at least basic coverage against theft and damage. Your homeowners’ or renters’ insurance policy might cover it, but many policies put a limit on expensive items, most policies don’t cover business equipment, and you might not be covered outside the home. Make sure the policy you get covers items stolen out of a car, since some don’t.
Whether you’re a seasoned vet or just starting out, there’s an insurance policy out there that’s perfect for your needs and your equipment. Get a policy you can afford, so you can protect your videography business, focus on getting the shot, and grow your business. Even if it’s expensive, you can’t put a price on peace of mind with quality insurance coverage.