Full Editorial
One of the most important things to remember as a filmmaker, or any creator in the entertainment industry, is that you’re effectively running a business.
Yes, the details might be different to your average office job or retail company, but the principles remain the same: if you’re earning revenue from your work, then you’re running a business that operates in the same way as any other.
And any business needs to be protected. While insurance might not be the first thing on your mind, this is a crucial part of safeguarding your assets, projects, and financial stability.
Across the US, businesses in industries ranging from retail to hospitality rely on the same thing to protect their operations and employees, so if you want to have the same kind of protections in place for yourself – both for your financial security and for your peace of mind, you’re going to need to give it your attention.
But what exactly do indie filmmakers and creators need to know about business coverage, and how can it help you moving forward?
Types of Business Coverage
Let’s start by looking at the types of business coverage that are out there for you. While many insurance companies won’t specify ‘filmmakers’ or ‘creators’ as distinct categories, they will offer a range of policies that can be beneficial for you in this field. These include:
- General Liability Insurance
Covering bodily injury to third parties, property damage to someone else’s property, and personal or advertising injury – like copyright infringement in marketing materials – this essentially covers you from any accidents or claims that might arise from them.
- Professional Liability Insurance
Covering claims of negligence, mistakes, or failure to deliver professional services as promised, this insurance can help you if a client claims you missed a deadline or delivered subpar services that caused them financial loss.
- Commercial Property Insurance
If you’re working from a studio, this type of insurance can be crucial for protecting your property and your equipment in the event of fire, theft, or vandalism.
- Workers’ Compensation Insurance
If you’re hiring a crew or assistants, workers’ compensation insurance ensures they receive proper care without you being personally liable. So if someone gets injured on set – whether it’s a camera operator or lighting technician – this policy will protect you and your team from financial and legal consequences.
- Certificate of Insurance
Although this isn’t a policy per se, filmmakers and creators often need to provide a COI to clients or collaborators before starting a project, showing that you have the necessary insurance and that they can feel confident working with you.
Attaining the Right Business Coverage
It might be that you don’t need every policy mentioned above, but so long as you have the policies that apply directly to what you’re doing, you should feel confident enough to move forward.
And that’s the key point. In the creative industry, your work is your livelihood, and every project carries its own set of risks. Having the right coverage tailored to your specific activities – whether it’s filming on location or managing expensive equipment – gives you the confidence to focus on your craft without constantly worrying about what could go wrong.
If you’re working on sets, specifically, this becomes even more important. Let’s say you’re shooting your first feature-length film, and you’re hoping to attract studios or investors to the project. If something goes wrong, the fallout might not just be financial, but it could be reputational as well.
Studios and investors want to know that a production is well-managed and that risks have been mitigated, so if an accident occurs and there’s no proper coverage in place, this signals poor planning and, quite simply, a lack of professionalism.
Having the right insurance, however, demonstrates that you take your production seriously and that you’re prepared for all the challenges that might come your way. In other words, you’re responsible enough to take a chance on.
