Long-time Tucson, Arizona resident Taylor Davidson left the banking world for insurance and hasn't looked back. He was approached by a friend, an independent filmmaker, who felt they weren't getting a good deal on their production insurance and asked Taylor for help. Davidson, who was already dealing in property and casualty insurance, researched the market and found a viable solution for his friend. Since then, he's provided his niche products to a variety of productions across the country and around the world.
When asked why he sells production insurance, Davidson says, "I love independent film... I see filmmakers with no-budget productions grow into bigger and bigger projects..." and his unique position as one of Tucson's only production insurance providers for the last 5 years lets him see this growth. He says independent filmmakers and enthusiasts are like hikers: "they will go through a long, painful journey just to find that one perfect peak." The experience is shared by viewers and filmmakers alike.
Not every filmmaker can afford production insurance, but Davidson doesn't mind. He encourages filmmakers working on a variety of projects to contact him. Even if he can't get them a policy, he enjoys watching them grow and grow until they can put his products to use. From his handout at a recent IFASA meeting, General Liability insurance is the most basic insurance you can get for your production. Third-Party Property Damage is also important especially if you plan to shoot on-location - in the event someone on your cast or crew causes damage to the location. "Insurance is about transferring risk not eliminating it... a good insurance agent will work with you to get you the right policy for your production and minimize your risk." Of course, insurance isn't perfect: "liability doesn't end where your insurance does and insurance has nothing to do with whether or not you get sued... confirm with your agent everything that goes on your policy."
Low-budget independent filmmakers should always factor insurance into their budgets. Production insurance may seem expensive when you have a limited budget, but it could be far worse without it. Unforeseen events like equipment damage, injury to talent, damage to third-party property, or even intellectual property (like copyright or trademark) issues can come up and ruin even the best-planned production. Needs like unmet SAG contract requirements, payroll, city and other special certificates, and insurance to cover a location are not uncommon, but can be handled easily. "In order to have coverage, productions need to be produced/owned in the name of the insured..." Taylor notes, pointing to low-budget independent projects where cast and crew take on liability by renting equipment or buying services that insurance can't cover because it wasn't in the production's name.
Remember: not all insurance policies are built the same. "Many policies will remove coverage in order to lower premiums," but the production will suffer if something happens and it's not covered. "Blanket coverage is often removed which can save on premium, but can cost the production more than the extra premium in the long run."
So, whether you have millions of dollars or only a few dollars, Davidson encourages filmmakers and producers to contact him. "If I can't help, I usually know someone who can," says Davidson with a smile.
Taylor Davidson says he likes working with independent filmmakers because he gets to watch them grow. His advice for filmmakers is to have a large number of scripts and/or projects in the works and to choose the projects you can do within a specific, realistic budget. "Start with small projects and work your way up to bigger and bigger projects. Remember your bottom line. Use what resources you have, not what you want your resources to be." Also, he says filmmakers need to remember that projects should entertain or, at least, engage the audience. He comments, "filmmakers in Tucson need to be more realistic when it comes to their films - films can be art, but if they don't engage the audience they won't be as successful."
Taylor Davidson is a licensed insurance agent working with The Ruboyianes Company, PPLC (pronounced RUBY-AHNESS) in Tucson, Arizona. You can contact him at his office at 520-577-1040 or via email at taylor@ruboyianes.com whether your production is in Arizona or anywhere.
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