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General Business Liability Insurance For Video Production
Does anyone have any leads to where I can purchase general business liability insurance for my one-man-band video production business.
I do video documentaries for the Web, mostly, and one of my clients is requiring that I cover $1 million in coverage (each occurrence and aggregate) including personal injury, broad form property damage blanket contractual and fire/legal liability)
I had a short term production insurance contract once that was cheap, about $300, but I have a feeling this is going to be much more expensive and harder to find so any leads and experience would be most appreciated.
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11 Replies
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Steve,
You should do a search on the forum. I’m pretty sure this has been asked several times.Short answer is talk to your homeowners agent and ask for a general liability umbrella.
If you already have a homeowners policy, a million dollar policy won’t be very much.Scott Sheriff
Director
https://www.sstdigitalmedia.comI have a system, it has stuff in it, and stuff hooked to it. I have a camera, it can record stuff. I read the manuals, and know how to use this stuff and lots of other stuff too.
You should be suitably impressed… -
Travelers gets the video industry….look for your local business insurance company who reps Travelers. Also the Hartford is in the same game, so either one.
I have found that Travelers is a little better at customer service and getting me the certificates promptly.
Rich Rubasch
Tilt Media Inc.
Video Production, Post, Studio Sound Stage
Founder/President/Editor/Designer/Animator
https://www.tiltmedia.com -
Just like we all say “I’m not a lawyer, but…” I’ll say that I’m also not an insurance professional. That said. I’m not sure that you can add that kind of coverage to a homeowners policy. More likely a general property & casualty business policy — not to say that the same agent may be able to handle both.
If memory serves the increases in the amount of coverage is fairly minimal, in other words going from $500,000 to $1,000,000 is not double the price. I also seem to recall that the initial policy is not that expensive when you consider that its for a year of coverage.
It’s also been strongly suggested that we have a $1,000,000 of excess liability for the company-owned car in case in an accident someone wants to sue the company. Ya’ gotta love our litigious society, don’t you?
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Thanks everyone, I will check out Travelers to see what they can do for me.
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Be sure to bill this to the “client” it is his/her requirement.
Malcolm
http://www.malcolmproductions.com -
Nick,
“Just like we all say “I’m not a lawyer, but…” I’ll say that I’m also not an insurance professional. That said. I’m not sure that you can add that kind of coverage to a homeowners policy. More likely a general property & casualty business policy — not to say that the same agent may be able to handle both.”It might depend on who your carrier is, and state regs.
I have had one of these for years and it covers, as it says “general liability”, and is not business specific, or address specific. I originally got it at my agents recommendation to cover liability when working at a rental house I owned.
The idea was on income property, the home insurance covered the building, but not the contents, or owners (my) liability. So if I damaged the tenants personal property, or injured anyone through action, or inaction the umbrella covered it.
Your standard policy for the house you own/occupy usually covers some amount of liability in case someone is injured on your property through negligence or action.
The umbrella ‘extends’ this liability to coverage outside your principal residence for a fee based on any increase of protection and types of liability.
If you have a good relationship with your agent they can usually customize this to suit your needs.Scott Sheriff
Director
https://www.sstdigitalmedia.comI have a system, it has stuff in it, and stuff hooked to it. I have a camera, it can record stuff. I read the manuals, and know how to use this stuff and lots of other stuff too.
You should be suitably impressed… -
I want to follow up on the concept of ‘umbrella liability’ or general liability riders as they pertain to homeowners insurance.
One part I failed to mention is that in most cases this is for those who are DBA under their name working from a home office and not incorporated, or using a separate business office.
Once you make that leap, your a ‘business’ and will need commercial insurance.Scott Sheriff
Director
https://www.sstdigitalmedia.comI have a system, it has stuff in it, and stuff hooked to it. I have a camera, it can record stuff. I read the manuals, and know how to use this stuff and lots of other stuff too.
You should be suitably impressed… -
[Scott Sheriff] “this is for those who are DBA under their name working from a home office and not incorporated”
Ahhh, hence the difference in our understandings of how coverage is obtained, Scott. I’ve been operating as a Sub-S corporation, as I was instructed to do for tax purposes. This certainly wouldn’t be the first case of me having to pay much more for things, like insurance, in exchange for the other benefits of being incorporated.
As discussed earlier, it’s best to talk to your insurance professional. And, for what it’s worth, our coverage is written through The Hartford.
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We have an Ultraflex policy from Erie Insurance that covers our gear (Inland Marine) and General Liability. Make sure your agent “gets it” as someone mentioned. Our agent is great – a call or email to them gets rental houses our policy info, or clients & locations get proof of coverage quickly.
Steve
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Just echoing much of what’s said here.
Our coverage is also via Hartford , BUT – I don’t think the company is the key. Your AGENT is the key. Typically a local insurance professional who acts as the middleman and who is around to pick up the phone when you need something.
One company in my rolodex. If it’s personal or household stuff, it’s Vicki. If it’s business stuff, it was Nancy for the first decade but now it’s Julie.
A few years ago, I needed insurance quotes for a not-for-profit who’s board of directors I sit on concerning a huge fund raiser that involved both public admission and on-site alcohol consumption – in other words a situation who’s risk profile was much different than my video operations. So I called Julie, who connected me with Tom, who sent me to Brenda who hooked me up with the right coverage in 48 hours.
The point is that it’s all about building business RELATIONSHIPS. At the end of the day, THAT’s what gets you the needed coverage certificate on a holiday or after hours and why I know that no matter what happens out in the field, I won’t be calling someone who’s never heard of me and has no financial or emotional stake in keeping me happy for another decade or two.
For what it’s worth.
“Before speaking out ask yourself whether your words are true, whether they are respectful and whether they are needed in our civil discussions.”-Justice O’Conner
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