Allow Us To Manage Your Entertainment Insurance Program

An Entertainment Insurance Update

We recommend you start 2018 strong by having us complete a review of your entertainment insurance program.  We will review your exposures to risk and compare these to your current coverage.  If we do not find any gaps, we will tell you, and if we do find gaps, we will provide recommendations to you.

Here are some things you can do today to strengthen your business insurance program for 2018:

•        Read your insurance policies. It is better to know what coverage you have before a loss occurs.
•        Meet with your agent and have him/her review your program and make recommendations.
•        Review your losses over the past few years and determine if there are any areas where improved safety might help reduce losses.
•        Take advantage of any loss prevention services offered by your business insurer.
•        Consider adding additional coverage like Professional liability, media liability, or copyright infringement, employment practices liability, or a commercial umbrella policy.
•        Review all your safety policies to make sure they are up-to-date
•        Make safety training a priority in 2018 with safety incentives for accident-free months.

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.

We Specialize In Entertainment Insurance

The entertainment industry creates fun, educational and even inspirational movies, TV, film and more. With this activity comes a certain amount of risk. Risks can include lost or damaged equipment, injury on sets, copy write litigation, injury to cast and crew and more. Our job is to partner with our clients to help them reduce their risk and protect their assets.

Here are some of our key products and services:

Insurance For Props, Sets and Wardrobe: Covers damage to specific equipment during production or events.

Producers Errors & Omissions: 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.

Workers Compensation: Covers injury to crew members as required by state law.

Insuring Equipment: Covers cameras, sound/lighting equipment and rented or leased equipment.

Cast Insurance: Covers production companies’ extra expenses in the event of death, injury or illness to performers.

Comprehensive Liability Coverage: Protects the production company against claims for bodily injury or property damage liability arising out of filming. Coverage includes use of all non-owned vehicles (both on and off camera) including physical damage to such vehicles. This coverage will be required prior to filming on any city or state roadways, or any location sites requiring filming permits.

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.

What is Your Biggest Business Fear?

An Entertainment Insurance Update

In a recent study conducted by the Business Continuity Institute, the threat of cyber-attack is one of the biggest fears of large companies.  However, did you know that according to the Insurance Information Institute, small businesses actually have a greater chance of having a cyber-attack than they do of having a fire?  It is very important that your business insurance program have cyber coverage.  If you are not sure you have this coverage, call our office today.

Other Business Concerns
Our clients often share current business concerns with us, and together we help find solutions.  Some of these include:

• Business Interruption - Business Interruption Insurance keeps you financially stable if you are forced to vacate your business premises or if you had a production shut down for some reason. .  You can continue to provide your employees with pay and manage bills during the period in which the business cannot operate.
• Attract top Talent – Getting the top people has always been an important part of business planning. It is important to keep your employees engaged and energized in the business process and planning.
• Social Media Activity – Social media can be a good tool to enhance your businesses brand and reputation.  The downside is that social media can also be inflammatory.  We recommend that you have a social media policy that outlines what employees can and cannot post regarding your business. 
• Regulatory Risk -The regulatory climate is always changing for businesses.  Almost every month there is some new law, regulation, or statue with which your business must now comply.  Remember, your business insurance generally does not cover fines or penalties imposed by Local, State, or the Federal Government.

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

A Little Preparation Can Get Your Entertainment Business Running After a Loss

A Entertainment Insurance Update

No one wants to think about an event so severe that it would cause your business to close.  However, disaster planning needs to be part of your ongoing business plan.  Major events can include floods, storms, data breach, fires, accidents, death of an owner, or lawsuits.  Whatever the risk, a little pre-planning can go a long way toward getting your business up and running again.

A key part of your plan should be a review of your business insurance program.  Your business insurance should include the following:

• Property Insurance: Covers your buildings, equipment, machines, and other property from loss or damage. Coverage should include business income coverage.
• Commercial Liability Insurance: Provides coverage for bodily injury and property damage you cause to others.
• Commercial Auto Insurance: Covers your company vehicles if they are involved in an accident. It can also cover your business if you, or an employee, uses a personally owned vehicle on behalf of the business.
• Cyber Liability Insurance: This insurance can protect your business from a data breach.  If your business stores sensitive or non-public information about employees or clients, you are responsible for protecting that information. 
• Management Liability Insurance: Management Liability can encompass these important business insurance coverage’s; Professional liability, and Directors and Officers Liability.
• Having the right kind of entertainment insurance is not the only thing your business should consider. 

You need to develop a plan in the event your business is shut down.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.

John Hart Insurance Has Your Interests In Mind

An Entertainment Insurance update

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 entertainment 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.

Here are some of the entertainment risks we can cover

• Cast insurance
• Production errors & omissions
• Damage to props and other equipment
• Copy write infringement
• Intellectual property
• Rented and leased vehicles
• Animal mortality

Here are the type of operations we have experience with

• Television or film productions
• Commercials
• Documentaries
• Music videos
• Educational films
• Corporate productions
• Commercial photographers

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 entertainment 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.

Our goal is to provide exceptional service while giving you peace of mind so you can focus on what you do best, create. Give us a call and let us show you how we can save you time and money on your insurance.

The Risks of Using Animals in Productions

Entertainment Insurance Update

John Hart insurance offers entertainment insurance for films that includes unique coverages specific to movie making and other productions, including; cast coverage, animals, props, sets and wardrobe coverage; extra expense coverage; third party property damage coverage; miscellaneous equipment coverage; faulty stock coverage; and negative coverage

Animals have been used in movie-making, advertising, documentaries and other print, films and production functions since the early days of the industry. 

We can offer special entertainment insurance coverage for the animals used in your production. This coverage protects you against loss.  Plus, the policy will pay the agreed value of the animal actor if death was caused by one of the perils listed on the policy. Animal Extra Expense would provide a “cast-type coverage” for insured animals that would reimburse the out-of-pocket expense incurred as a result of the interruption, postponement or cancellation of the production resulting from injury, death or illness to the animal so insured.

We get the resumes on the animal actors and their wranglers.  We can then write Animal Mortality coverage (life insurance) on the animals for a predetermined value.

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.

How To Hire Part Time Seasonal Workers

Entertainment Insurance update 

Many entertainment companies may be hiring part time workers to fill production needs. For the most part, you will not need to modify your business insurance, but if you add new classifications or payroll, it may affect your workers’ compensation insurance.  Now might be a good time to have us complete a review of all your business insurance policies.

Here are few tips to help you manage seasonal employees

• Make sure part time employees get the same training as all other employees.
• Conduct background screenings on part time candidates.
• Unless the job requires it, it is not a good idea to give seasonal employees access to computers or other secure information.
• Don’t allow seasonal employees to work alone.
• Remember the Fair Labor Standards Act (FLSA) requires employers to properly classify workers, pay the legal minimum wage, and pay overtime if applicable.
• Part time employees should also read and sign the employee handbook.
• Your business is legally required to carry workers’ compensation insurance coverage, as most fair-employment laws cover seasonal employees. 
• If you notice cliques or bad habits forming, don’t assume that they will self-correct. 
• Employers with 15 or more employees are subject to Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, and other federal and state employment laws. This means your seasonal employees, just like your regular workforce, must receive adequate training on what conduct is illegal, how to report it, and how to request a reasonable accommodation.
• Maintain a detailed account of where each employee works, the kinds of tasks they are assigned, number of hours completed, and their rate of pay.
• When it is time to end the part time employment, follow the same procedures as you would with a full-time or permanent employee.

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.

Why Stunt Insurance Can Save Your Production

Almost every movie or production has some level of stunt activity. And it is these brave men and women who can make the difference between a good scene and a great scene. Even training films often include stunts as part of the production.  However, many traditional insurance packages don’t automatically cover stunt work. We can provide the right kind of insurance for your production company.

Stunt Insurance

We can provide special stunt coverage for many of the productions you are involved in. Producers and production companies can attain coverage for the following... Stunts, aerial scenes, falls, fight scenes, recreational vehicles, water scenes, weapons, precision driving, and animals. 

Many insurance companies provide special stunt coverage packages for film productions. The insurance company provides quotes per stunts performed during film shoots.

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.

Best Practices for Entertainment Property Losses

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.

Pre-Loss Practices

• 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.

Heat Stress Prevention For The Entertainment Industry

As summer approaches, workers all over Los Angles and the rest of the country will experience the risk of heat stress.  Heat stress is especially prevalent in the summer months due to climate changes in July and August. Summer is the time when outside performances and other related work increases.

Heat stress is a signal that says the body is having difficulty maintaining its narrow temperature range. The heart pumps faster, blood is diverted from internal organs to the skin, breathing rate increases, and sweating increases, all in an attempt to transfer more heat to the outside air and cool the skin by the evaporation of sweat. If the body can't keep up, then the person suffers effects ranging from heat cramps to heat exhaustion, and finally to heat stroke.

Workers at risk of heat stress include outdoor workers and workers in hot environments such as set construction, stunt workers, outside theater productions, filming and others. Workers at greater risk of heat stress include those who are 65 years of age or older, are overweight, have heart disease or high blood pressure, or take medications that may be affected by extreme heat.  Source: The Centers for Disease Control and Prevention (CDC)

Prevention Tips

• Drink water frequently and moderately. 
• Take breaks and rest periodically out of the sun and heat.
• Eat lightly.
• Do jobs that are more strenuous during the cooler morning hours.
• Utilizing ventilation or fans in enclosed areas.
• Remembering that it takes about 1-2 weeks for the body to adjust to the heat; this adaptation is quickly lost – so your body will need time to adjust after a vacation.
• Avoiding alcohol consumption. Many cases have occurred the day after a "night on the town”.
• Wear light-colored, cotton clothes, and keep your shirt on; desert nomads do not wear all those clothes for nothing.

Additional sources: CAN

We will review your entertainment insurance and compare them to your operations to make sure that you have the coverage that matches your risk.  Make sure your workers’ compensation coverage is designed to cover your legal obligations.

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.

Entertainment Lability Trends For 2016 and Beyond

Today almost every production company, film distribution firm, or any business in the entertainment industry can find itself facing a liability lawsuit. A Professional Liability lawsuit can put assets at risk including business assets, resources, and in some cases the personal assets of owners. One simple mistake could cause financial devastation, as well as end a professional career. Some businesses mistakenly fail to realize that they have an exposure to professional loss.

The most important liability trends are involving intellectual property rights liability; such as copyright and trademark infringement. There is increased litigation around the unauthorized use of third party content; images, film, ant music without permission.

“Media companies are increasingly exposed to claims for copyright, right of publicity and misappropriation of ideas under implied contract. The exposure to these causes of action has increased as media companies try to generate content to keep up with the public’s consistent and growing appetite for news, information and entertainment. Internet exposures arising from third-party generated content are also a concern. These causes of action can give rise to large verdicts, settlements and defense costs. Moreover, a defendant in an intellectual property suit is less likely to prevail through motion practice or on appeal. Most intellectual property suits are likely to settle because they are economic disputes as compared to those involving claims for emotional distress and reputational damages.” P.Blake Keating, VP Media Claims, One Beacon Insurance.

Other Risk and Insurance Trends To Watch

•        Use of drones including safety and privacy
•          Suite involving social media
•          Hacking of entertainment firms form foreign countries
•          Development of internet products and copyright issues
•          Un authorized used of images in marketing or advertising

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.

Commercial Insurance Offers Real Solutions For The Entertainment Industry

Commercial Insurance 101

If you are involved in any entertainment operation, you know how important it is to keep your production running smoothly. There is nothing worse than an interruption in your production that may cause you to under deliver products or services to your producers, studio or networks. One very important parts of running a company, is ensuring that you have proper entertainment insurance coverage.

What Is Commercial Insurance For The Entertainment Industry?

Entertainment insurance is designed to protect your business from unforeseen losses like fire, theft, business income loss, and third party liability claims.

There are many different kinds of coverage that can be included in a commercial insurance policy, and depending on your business, you may need other specialized coverage including:

Property- including coverage for props

Business income- loss of potential income

Inland marine- coverage for drones, cameras, etc

Workers’ compensation- including injury to stunt professionals

General liability-

Professional liability- copyright infringement coverage

Automobile

Director and officers

Employment liability

It is important to use an agent with commercial experience to help your business find the right combination of coverage, price, and service.

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.

Your Experience Mod Is Your Workers’ Comp Identity

It is a fact that many entertainment employers actually overpay for their workers’ compensation premiums.  According to the latest reports, employers are paying around 20% more in surcharges than they need to. Most surcharges come from increases in the experience modification factor (mod).

The experience mod is a factor unique to each employer. In simple terms, this formula is designed to compare a specific employer’s historical claim and payroll data, to other employers with similar business operations. An individual employer’s experience mod is calculated using claims data compared to premiums from the three most recently completed years, excluding the expiring term.

Key points to consider

• If your losses are increasing, your mod most likely will go up even if your payroll goes down.
• The frequency of losses hurt you more than the severity of losses.
• It is important to check the calculations on the experience modification worksheet each year.
• The most common errors are incorrect or incomplete payroll data.
• Your workers’ compensation mod is the single most important factor insurers use to identify your risk.
• Your mod can be reduced through effective safety and loss control programs.

How to reduce your mod?

• Develop a safety program.
• Reward safety in the workplace.
• Start a return to work program.
• Complete regular safety inspections.
• Investigate every accident and make corrective actions if needed.
• If you suspect fraud, immediately inform the insurance company.
• A disciplinary program also should be incorporated into the safety program; it should hold employees accountable for breaking the rules.

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

Special Event Insurance

Entertainment Special Event Insurance

Whether you are a production company, studio, independent film company, event planning company, or a private firm planning a client event, Special Event Insurance should be part of your planning. Special Event Insurance can provide the necessary security to ensure that if something does go wrong, you and your guests are protected.

What is Special Event Insurance?

There are many different kinds of Special Event insurance.  Special Event Insurance is designed to protect the event sponsors or planners against liability claims associated with the event. Claims can come from participants, vendors, and other third parties. Depending on your event, there is insurance coverage that addresses the specific risks. Here are a few of the different kinds of events that require insurance

Festivals - Music/Concert Events - Holiday Festivals - Private Business Events –Cast Parties – Media Events – Special Showings and more

What Kind of Insurance Should I Have?

Here are the different kinds of insurance that you should consider when holding your event. There is other coverage that you may need, but I wanted to identify at least three:

General Liability- General Liability insurance provides bodily injury, property damage, and personal injury to third parties arising out of the negligence of the event sponsors or organizers. 

Liquor liability- If you are serving alcohol at your event, you need to make sure there is Liquor Liability coverage in place. Liquor Liability Insurance provides protection from claims relating to the sale, distribution, serving, or use of alcoholic beverages.

Event Cancellation- Event Cancellation Insurance is one of the most important items to consider. Event Cancellation Insurance protects the event planners or hosts from an unforeseen circumstance that requires the event to be canceled. It would provide funds to cover deposits and other costs that you may have already paid. Unforeseen circumstances could be related to weather, construction at the venue, or illness of the featured speaker or entertainer.

Planning a Documentary? Make Insurance Part of Your Planning

Documentaries come in many forms. Some take years to shoot and produce, while others may only take a few months. No matter how big or small, having the proper insurance for your documentary can be one of the most important things you can have. All the activities associated with filming a documentary bring unique risks that should be insured. And when it comes to entertainment insurance, John Hart Insurance has the solutions.

Here is a short overview of coverage you might consider:

·   Rented Equipment

·   Owned Equipment

·   Cast Coverage

·   Props, Sets and Wardrobe

·   Negative & Faulty Stock

·   Third Party Property Damage

·   Extra Expense

·   General Liability

·   Automobile Liability and Physical Damage

·   Workers Compensation

Once a documentary is finished, the next step is normally distribution. Most distributors will require the production company obtain an Errors and Omissions policy on the production. If you are a distributor, you should always carry your own E&O policy, in addition to requiring each of the productions you distribute to be covered. When purchasing your insurance policies, it is once again important to remember that the amount of coverage you purchase is wholly dependent upon the type of project on which you are working.

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 manage the risks inherent to the client’s unique businesses.

Entertainment Issues -- Risk and Reward

We all love watching the fine work that comes out of Hollywood and other production companies. If you think about the many risks facing production and entertainment companies, most people might run like Forrest Gump!  But we at John Hart Insurance know that with risks come rewards.

We have 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. Call us today for more information.

Here are a few of the risks faced by the entertainment industry:

• Stunts and action scenes. There are times when lead actors want to do their own action scenes. If the lead actor is injured it might lead to long delays in production.
• Foreign locations.  Many productions are filmed outside of the USA. This can lead to safety, cultural and legal issues. Especially if the production is travelling with a full crew and production team.
• High valued set and wardrobes. If sets are damaged or wardrobes destroyed, they must be replaced. Even under the best of situations, a few weeks delay can cost thousands of dollars.
• Documentaries or other true stories can lead to creating errors in the truth. While there is always some defense in artistic freedom, it really depends on what was agreed to between the parties involved. Also, rewriting scripts during production can lead to errors in factual information. 

The Value of Participant Accident Insurance

Production companies and the rest of the entertainment industry have very unique and diversified risks. Many activities include having an audience, using volunteers, and feature performers and actors. For any given event there is exposure to accidents. Most entertainment firms purchase general liability coverage to ensure against losses and injuries to third parties. One problem with this is that the injured parties might have to sue or be involved in a lengthy claims process to obtain claim payments. 

Medical benefits coverage under a general liability policy has limitations. One alternative is for production companies or recreational organizations to purchase Participant Accident Insurance. Participant Accident Insurance can provide accident medical benefits and, at the sponsor’s option, may include accidental death, dismemberment, dental and disability benefits, as well.  If you have operation in foreign countries they also can include worldwide travel assistance services that provide emergency medical, emergency travel, and pre-trip information services.

Actual claim example:

Ten participants were injured at a live event when the stage collapsed causing injuries to the audience. The event production company had secured participant accident coverage and the policy covered the medical bills.  As a result no lawsuits were filed.

Call us today for more information. 

Film Production Stunt Insurance

Safety of performers is always the number one priority; whether it is maintaining a safe working environment or ensuring the physical safety of actors and stunt professionals. Many productions use stunts while filming their movie, commercial, or short film. Even training films often include stunts as part of the production.  However, many traditional insurance packages don’t automatically cover stunt work.

John Hart Insurance can provide special stunt coverage for any production you are involved in. Directors and production companies can attain coverage for the following... Stunts, aerial scenes, falls, fight scenes, recreational vehicles, water scenes, weapons, precision driving, and animals. 

Here are a few if the stunts that should be insured:

•          Aerial Work
•          Fight Scenes
•          Animals
•          Scripted Falls
•          Special Driving
•          Use of Weapons
•          Underwater Work

SAG-AFTRA established INDUSTRY WIDE LABOR-MANAGEMENT SAFETY COMMITTEE

 SAFETY BULLETIN #4 that provides guidelines for safe stunt sequences.

Call us today for more information.

Why Insure Your Production Equipment For Replacement Cost?

Here is a quick definition of replacement cost coverage; Replacement Cost value is the amount it would cost to repair or replace an item with one of the same kind and quality as the original — in today’s market.

Replacement Cost Coverage usually reimburses you for the full cost of replacing the items you lose, rather than simply reimbursing you for the value of the item at the time it was lost. In other words, your insurance policy would pay what it would cost to go out to a store and purchase the item today.

From theatrical costumes, sets, to musical instruments, amplifiers and sound boards, from cameras, video equipment, and computers to custom-made puppets –equipment is an integral part of the entertainment an integral part of the entertainment business.

Having replacement cost coverage will allow you to continue operations after a loss with the least amount of disruption.