An Entertainment Insurance Update
Your business needs the right entertainment insurance in order to protect you from the many risks to which you are exposed. Business insurance will respond to many of your risks subject to the terms and conditions of your policy. Here are the top five things every business owner needs to consider when securing commercial insurance.
Our “Top Five” List
- Use an independent agent who is experienced in your industry.
- Select your agent based on their qualifications, not because they offered you the lowest priced policy. Buying low priced business insurance sounds good-- until you have an uninsured claim.
- Consider increasing your property deductible. Many businesses can save a lot of money simply by increasing their deductible to $2,500 or even $5,000.
- Higher liability limits can be purchased for a relatively small amount. Consider an umbrella policy which would increase your protection.
- Always consider cyber risk, employment practices liability, and professional liability coverage. Professional liability covers legal liability and defense for the production company against lawsuits alleging unauthorized use of title, format, ideas, characters, plots, plagiarism, unfair competition or piracy. Also protects for alleged libel, slander, defamation of character or invasion of privacy. This coverage will usually be required by a distributor prior to release of any theatrical or television production.
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.