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Author Topic: Crazy High Insurance Coverage  (Read 1062 times)

JoeKitchen

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Crazy High Insurance Coverage
« on: May 22, 2017, 12:12:57 PM »

I was just asked to increase my aggregate coverage (coverage per occurrence, which is typically less then yearly liability) to $10M. 

Anyone ever hear of this for a photographer?  Hell, anyone ever hear of this for a motion production company? 

This is for a project at a construction site, so I seem to think they asking me to have the same coverage as a construction firm. 
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Joe Kitchen
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BrownBear

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Re: Crazy High Insurance Coverage
« Reply #1 on: May 22, 2017, 12:57:25 PM »

Was the request from your client or from your insurance company? It was common for us to be asked by corporate or government clients to submit copies of our policies, or at least to show proof we met some standard set by the client. In some cases we were also asked to carry E&O coverage.

We always saw it as a reflection of the risk or exposure involved with our presence and activities, taking it as a clue that we should at the same time examine our rate structure. At the very least we could negotiate whether or not additional premiums were a billable expense. Often the client agreed to be billed for extra costs associated with the shoot. That was especially true of international corporations and TV networks for some reason.
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JoeKitchen

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Re: Crazy High Insurance Coverage
« Reply #2 on: May 22, 2017, 01:17:52 PM »

Was the request from your client or from your insurance company? It was common for us to be asked by corporate or government clients to submit copies of our policies, or at least to show proof we met some standard set by the client. In some cases we were also asked to carry E&O coverage.

We always saw it as a reflection of the risk or exposure involved with our presence and activities, taking it as a clue that we should at the same time examine our rate structure. At the very least we could negotiate whether or not additional premiums were a billable expense. Often the client agreed to be billed for extra costs associated with the shoot. That was especially true of international corporations and TV networks for some reason.

It is from client and location, which is an airport under construction.  This is excessively high for a photographer, but I think the bureaucracy is place is not taking into account that I am not a construction worker.  They also want E&O coverage. 

I just spoke to my agent, and the additional coverage would add $5000+ to my premium.  I am waiting to see if my client wants to pay that amount just for their insurance coverage requirements. 
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Joe Kitchen
www.josephmkitchen.com

"Photography is one percent inspiration and ninety-nine percent moving furniture."  Arnold Newman
“Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself.”  William Faulkner

scyth

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Re: Crazy High Insurance Coverage
« Reply #3 on: May 22, 2017, 01:46:41 PM »

I am not a construction worker. 

more chances that you 'd wonder the place w/o proper hat  ;D
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JoeKitchen

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Re: Crazy High Insurance Coverage
« Reply #4 on: May 22, 2017, 02:10:26 PM »

more chances that you 'd wonder the place w/o proper hat  ;D

Got the hat, and the boots, and the gloves, and the safety glasses, and the bright orange vest, and the OSHA 10 safety certificate.  Now I may have to get the insurance. 
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Joe Kitchen
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"Photography is one percent inspiration and ninety-nine percent moving furniture."  Arnold Newman
“Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself.”  William Faulkner

TonyVentourisPhotography

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Re: Crazy High Insurance Coverage
« Reply #5 on: May 22, 2017, 05:07:40 PM »

That's quiet high.  I generally run a high policy because I do a lot of unique spaces and products but I'm not as high as 10!  I've seen plenty of clients request in the 1-3 mil range though. 

I've never had a construction client request that.  Have you asked your insurance company what it would cost to increase the limit just for that one project?  It would seem silly to raise the entire policy for one job. 
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Tony
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JoeKitchen

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Re: Crazy High Insurance Coverage
« Reply #6 on: May 22, 2017, 05:25:13 PM »

That's quiet high.  I generally run a high policy because I do a lot of unique spaces and products but I'm not as high as 10!  I've seen plenty of clients request in the 1-3 mil range though. 

I've never had a construction client request that.  Have you asked your insurance company what it would cost to increase the limit just for that one project?  It would seem silly to raise the entire policy for one job.

I would agree, but this is an ongoing project.  Once a month until it is finished in 5 years. 

Anyway, just got an update in the E&O coverage.  Now the total will be around $7500 per year for what they are asking, although I heard back from my contact they may just accept my current coverage. 
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Joe Kitchen
www.josephmkitchen.com

"Photography is one percent inspiration and ninety-nine percent moving furniture."  Arnold Newman
“Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself.”  William Faulkner

TonyVentourisPhotography

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Re: Crazy High Insurance Coverage
« Reply #7 on: May 23, 2017, 08:45:37 AM »

Another option for long term contracts is to provide insurance for phases.  That helps keep the requirement down.  You have to provide multiple certificates across the life of the project...but a project that big means cert cost should be trivial.  You could do a yearly PO with the company And provide a cert for each year. 

Always some different options if the clients are open to working with ya.
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Tony
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TommyWeir

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Re: Crazy High Insurance Coverage
« Reply #8 on: August 17, 2017, 10:18:26 AM »

For an indie film shoot the typical insurance cover over a multi week shoot for locations would be 5m.   

It is more than likely that the existing insurance for the construction more than covers your activity however.  I would ask them to check with their own insurers whether any and all activity they commission on the premises is covered. This is the case for our local College for example.
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