Insurance for Vancouver Film and TV Production Companies
Every TV or film production has risks. Business liability insurance needs to be part of your risk management plan.
Vancouver film and TV production companies need customized business insurance that reduces financial risks related to lawsuits, accidents, and mishaps.
Whether you are located in the Greater Vancouver area, on the Lower Mainland, or elsewhere in British Columbia, a Western Financial Group business insurance broker will get you commercial coverage that uniquely protects your film/TV production company.
Western is a trusted, national insurance brokerage that has partnered with Canada’s top insurance companies to provide commercial insurance. We work with our insurance partners to find the best business coverage for your needs.
We make the process easy by getting insurance quotes for you and giving you policy coverage options that you can choose to protect your Vancouver TV and film production business’s specific needs like liability insurance protection.
Vancouver’s film and TV industry
The Vancouver region is the third-largest film and TV production centre in North America. Productions that film in Vancouver benefit from the city’s proximity to Los Angeles and the West Coast time zone, as well as stunning scenery.
Vancouver film and TV industries that need customized insurance
- Film producers and crews
- Freelance videographers
- Video production studios
- Film/TV post-production studios
- TV producers and crews
- Actors, musicians, performing arts professionals
- Film/TV equipment rental companies
- Animation studios
- Audio production companies/Sound editing
What is film and TV production insurance?
Film production insurance protects film and TV production teams (cast and crew) against specific risks associated with producing a film/TV production, such as injury or damage to a third party or their property, or against accusations of professional neglect.
How film and TV production insurance protects you
A fake wall in a TV production falls and injures a passerby, who sues your company for bodily injury. Your commercial general liability insurance may cover the cost of the injured person’s medical bills and your legal fees.
Liability insurance is an essential part of your customized insurance as a film or TV company. Here are the liability coverages that you need to protect your Vancouver film or television company from lawsuits.
Professional liability insurance
Professional liability insurance helps protect Vancouver film and TV production companies against claims of negligence or failure to perform services as promised. It’s also called errors and omissions insurance.
For example, your film company doesn’t complete a shoot on time, putting a film project behind schedule and over budget. Your Vancouver film company is being sued because of this. E & O insurance can help cover the legal fees and other related costs.
Commercial general liability (CGL) insurance
This is necessary liability insurance for Vancouver film and TV companies. Without commercial general liability insurance, you will pay costs related to third-party (customer/supplier/member of public) injuries or damage to their property out of your own pocket.
If you were sued, commercial general liability insurance would cover the legal costs to defend the claim against your Vancouver film or television business in court, as well as costs to cover damages to compensate third parties whether you win or lose your case.
What kind of risks does commercial general liability insurance cover?
- Injury to a third party who is not your employee
- Damage to someone’s property
- Damage to rented property
- Medical bills if someone is injured
- Legal costs and settlement costs of liability lawsuits filed against you
- Liability lawsuits related to slander and libel
Cyber liability insurance
You keep sensitive data and financial information belonging to your clients and to your Vancouver TV, film, or entertainment company could be hacked by cyberthieves. Cyber liability insurance will help protect the firm financially should there be a cyber-attack.
Depending on the size of the data breach and the information that was taken, the customers who are affected can hold you liable and sue you for damages.
Commercial umbrella insurance
You may want to consider commercial umbrella insurance for your Vancouver film, TV, or entertainment business. Commercial umbrella insurance, also known as just umbrella insurance, addresses liability coverage gaps. It’s used when the primary liability coverage, for example on your commercial general liability insurance, has reached its coverage limit.
The protection that umbrella insurance provides applies only to expenses related to liability such as legal fees, court fees, and legal settlements.
Drone liability insurance for Vancouver TV/film companies
Do you film footage using a drone? If so, you need to consider drone liability insurance. Drone usage is usually excluded by a general liability policy. Drone insurance provides financial protection for commercial drone operators against third-party liabilities such as property damage or bodily injury while using the drone to film footage.
What other insurance do Vancouver film and TV businesses need?
Commercial property insurance
Commercial property insurance provides financial support to replace or cover repairs to your Vancouver film, entertainment, or TV business and its equipment if it is damaged by a flood, fire, or severe weather. It also covers vandalism and theft.
Commercial property insurance protects contents such as computers, furniture, tools, equipment, and inventory. Commercial property coverage also extends to protect others’ property that is under your care.
Tools and equipment insurance
Any item valued at less than $1,500 is considered a tool. Anything valued above $1,500 is considered equipment.
Tools and equipment insurance provides financial protection for any transportable tools or equipment that your Vancouver TV or film company uses to do work.
Tools and equipment Insurance can provide reimbursement to repair or replace tools and equipment if they are lost, damaged, or stolen. Insured events apply to tools and equipment that are vandalized, stolen, lost, or damaged by fire or flood.
Business interruption insurance
This type of insurance supports you when your Vancouver film or TV production company can’t operate due to a covered loss.
There are a number of losses that can force your production company to shut down. Some examples are:
- Damage to your equipment from fire or vandalism
- A major reduction in revenue due to a client/supplier facing losses of their own
- A disruption in your supply chain
Business interruption insurance can help with these expenses:
- Payroll
- Rent
- Utilities
- Property taxes
- Alarm monitoring
- Relocation of your business
Commercial auto insurance
Are you using your car for your job in Vancouver’s TV and film industry, it won’t be covered by your personal car insurance policy. You will need commercial coverage as part of your insurance package.
How much does Vancouver film and TV insurance cost?
It depends on what your TV or film company does. What is its area of specialty?
The following factors are usually considered when determining the cost of your business insurance:
- Location(s)
- Services provided
- Number of employees
- Years of experience
- Annual revenue
- Any past claims
- Contact your broker immediately after any business-related mishap. Waiting to file a claim can confuse insurers about the severity of the damages to your business.
- Know your policy so that when you contact your broker you are familiar with what will be covered or not.
- Document the damage. Take photos right away and write down what happened.
- Do not throw away damaged goods after taking photos. Keep the physical evidence so that your adjustor can see it.
- Do not invite lawsuits. Don’t say anything that could be used against you, especially if you aren’t sure what happened.
- Be honest about what your damaged property is worth. Damaged commercial property is generally valued according to its actual cash value or replacement value.
What do I do if I have a claim against my Vancouver film or TV business?
Here’s an insurance checklist:
- Do you have the best business insurance rate that suits your work?
- Do you have the right amount for your deductible and regularly review it to make sure it’s the right amount for you?
- Are you or your employees using personal vehicles for work?
Western Financial Group has licensed BUSINESS INSURANCE EXPERTS to get right insurance coverage for your Vancouver film or TV production company. Our experts are available now to help you navigate the business insurance journey to protect your Vancouver business.
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