Those in video production understand that there is much more that goes into it than the final product that most people see. Behind the scenes, an entire team of managers, artists and tech experts do their part to ensure that a high-quality video is produced. It may seem quite straightforward to the average person, but the reality is that there are many potential mishaps that can occur along the way without safeguards such as video production insurance.
Risks in the Business
While an average day of video production may not be particularly eventful, a single mishap and the costs to remedy the situation have the potential to significantly undo the investments of all involved. It’s important to consider the possible risks that may be encountered in this line of business such as the following:
- Violation of contract terms
- Errors and omissions
- Injury or damage from pyrotechnics or stunts
- Damage to or from auto vehicles used
- Damage to personal property and third-party property
- Repairs and replacement of costly equipment, owned or rented
- Coverage for cast members
- Damage to film
As the financial investment, time spent and the number of parties involved increases, video production insurance becomes even more necessary. Finding a plan that addresses these exposures is a practical safeguard that can ease worries and allow the focus to remain on creating a high-quality product.