Movie Insurance Update
Most every entertainment business owns business property, which may include the building in which you run your operations. Property insurance protects the physical assets your business owns – such as computers, props, movie sets, camera equipment, office equipment, buildings, furniture, fixtures, and other property. Every entertainment business should have a comprehensive property insurance portfolio to respond to the many risks associated with property ownership.
We hope to help you indemnify a proactive plan in the event of a fire, theft, storm, or some other kind of damage that might involve your entertainment insurance policy. There are a number of actions you can do to help get the best possible settlement from the insurance company.
- Maintain vital records
- Have photos of all buildings, major equipment, etc
- Blueprints- keep complete sets
- Property inventories
- Financial records
- Appoint key individuals as communicators
- Have emergency response plan
- Secondary locations identified
During The Loss
- Notify the insurer
- Protect the property
- Track claim costs
- Separate budget line items
- Keep records of all internal and external costs
- Make temporary repairs
- Communicate with insurer as to the use of any consultants
- Meet regularly with the agent and Insurer
- List and address key issues and concerns
- Note any changes from original design
- Will you rebuild or not?
- What might cause delays?
The staff at John Hart Insurance has over 60 years combined experience in the field of entertainment insurance. We focus exclusively on understanding the unique needs of motion picture, television, video, music and theatrical companies. This knowledge base allows us to structure an insurance program specifically for each client that will be a balance of the best coverage and most economical solutions to help them manage the risks inherent to their unique businesses.