The Importance of Getting an Errors and
Omissions Insurance in Indie Film Making
Despite the fact that indie film making
does not necessarily demand a lot of budget, this type of film making venture
still requires a bunch of things that need security to protect the indie film
that will be produced or is still being made. This is the part that the errors
and omissions insurance in indie film making comes into the picture. Basically,
this insurance serves to protect the indie film maker from lawsuits that are
involved during the distribution of the indie film. These lawsuits could range
from using music with the right permissions, copyright infringement, to a chain
of title issues, and so on.
If an indie film maker and producer do not
have this kind of insurance, the film distribution companies will not be
allowed to have the indie film released with the help of movie retailers. This
is something that comes essential if you will be doing some business with a
number of film distributors. And this is still true even if you are only making
There are actually Indie Film making
producers that are equipped with this kind of insurance. They acquire such an
insurance even before their movie will be shipped to the movie distributors.
Once they have finalized an agreement surrounding the distribution deal, they
should be able to provide to the distributor a copy of the original certificate
of this kind of insurance. The distribution company must be included as an
additional insurance on the policy. Most indie film making producers that
produce indie films on daily basis already have their very own errors and
omissions insurance in place before any principal photography takes place.
As a rule of thumb, when it comes to your
indie film, you should be able to secure an errors and omissions insurance
coverage for each claim to not be less than $1,000,000. In addition, the
insurance coverage should be $3,000,000 aggregate for the claims that have a
policy deductible that is not greater than $10,000. Talking with an E&O
insurance professional will make it easier for you to understand about this
policy for your indie films in keeping with whatever unique elements your film
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On the part of the indie film producer, it
is highly advised that they actively search for a good E&O insurance plan,
get quotes, and have the total cost included into the entire budget of the
indie film before any frames must be shot. Indie film making is not as grand in
terms of budget compared with Hollywood films; so, you have to make sure to
save as much money as you can in its production.