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Home: Video University Forums: Marketing & Business:
Liability Insurance

 
 


smithgalltv
Novice


Feb 6, 2006, 1:59 PM

Post #1 of 10 (1400 views)
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Liability Insurance Can't Post
I am shooting a video at a building in our downtown. The property management needs us to carry liability insurance and workman’s comp. We had the same requirements from the city if we were to shoot on public property such as a park. How do you all handle that? My quote for the one day is $687. On a 7500 budget that is significant. Is this just a cost of doing business? If so how could I lessen that affect on future projects? I don’t do enough yet to carry a full policy all year and even if I did how would that work. I have not run into this problem before.

any suggestions on how to get around it all? I did get one suggestion to have some other company extend their coverage to inlcude that and then pay them something and sign an agreement to cover any deductable that may result if a claim is filed. If that is reasonable I thought of askingt the sandwich shop guy in the building. I will probably use him for crafts services so he is making something as it is.
Michael Smithgall


videobear
Veteran


Feb 6, 2006, 4:09 PM

Post #2 of 10 (1393 views)
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Re: [smithgalltv] Liability Insurance [In reply to] Can't Post
That seems like a steep price for one day of coverage. You might want to shop around for additional quotes.




Regards,
Doug Graham
Panda Productions


hlanden
The Dean / Moderator


Feb 6, 2006, 8:23 PM

Post #3 of 10 (1385 views)
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Re: [smithgalltv] Liability Insurance [In reply to] Can't Post
Check with Nationwide Insurace. I bought a $1 million liability policy for about $150. When you read the fine print, it's not a very good policy, but it enabled me to do a job I could not have done otherwise.
Produce Profitable Special Interest Videos


bruceo
Veteran


Feb 7, 2006, 5:17 PM

Post #4 of 10 (1355 views)
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Re: [smithgalltv] Liability Insurance [In reply to] Can't Post
In Reply To
I am shooting a video at a building in our downtown. The property management needs us to carry liability insurance and workman’s comp. We had the same requirements from the city if we were to shoot on public property such as a park. How do you all handle that? My quote for the one day is $687. On a 7500 budget that is significant. Is this just a cost of doing business? If so how could I lessen that affect on future projects? I don’t do enough yet to carry a full policy all year and even if I did how would that work. I have not run into this problem before.

any suggestions on how to get around it all? I did get one suggestion to have some other company extend their coverage to inlcude that and then pay them something and sign an agreement to cover any deductable that may result if a claim is filed. If that is reasonable I thought of askingt the sandwich shop guy in the building. I will probably use him for crafts services so he is making something as it is.

You can get 2 million liability and equip coverage from State farm for less than $200 for the year that will allow you to do those jobs and typically if you are under a certain number of emplyees you would be workmans comp exempt and would just show that you were exempt. We do this for a lot of our govmt and commercial jobs just like the one you are describing.

First Sight Pictures


Bob A
Veteran

Feb 7, 2006, 11:17 PM

Post #5 of 10 (1345 views)
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Re: [bruceo] Liability Insurance [In reply to] Can't Post
In Reply To
.... and typically if you are under a certain number of emplyees you would be workmans comp exempt and would just show that you were exempt. We do this for a lot of our govmt and commercial jobs just like the one you are describing.
I am not aware of ANY exemption from the workman's compensation insurance requirement for employees.


smithgalltv
Novice


Feb 7, 2006, 11:40 PM

Post #6 of 10 (1341 views)
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Re: [Bob A] Liability Insurance [In reply to] Can't Post
It does seem that the cost of the years worth of insurance is not far from the day quotes. I was quoted 800 for the year which is still a bit higher than the quotes you have both had but either way it looks like gettingh a years coverage is a better bet. As for workmans comp. The state of florida doesnt require it for a sole proprietor. Since i operate as a sole proprietor and only hire people as needed on a freelance and therefore 1099 basis i can get around that requirement. The insurance agent did say that the property mngr may still require workmans comp despite my not being required by the state. her solution is to find an employer that coudl basically hire my crew for the day. He then passes these costs to me, Not much different than if he hired a crew to help with a big job for a day. Or i coudl find a day labor place to run the money through. Which is not really a bad idea. I used to hire day laborers and I paid $10 per hour and they got paid $8. the labor company kept the difference and handled the taxes workercomp etc. I suppose I could find one that will agree to pay min wage, i will pay the upcharge and then on the outside of this arrangement I can pay the crew the difference between what ever min wage is and their rate. This would still get me my workercomp. man thsi would be easier if I were a much bigger company.
Michael Smithgall


bruceo
Veteran


Feb 8, 2006, 1:54 AM

Post #7 of 10 (1332 views)
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Re: [Bob A] Liability Insurance [In reply to] Can't Post
In Reply To
In Reply To
.... and typically if you are under a certain number of emplyees you would be workmans comp exempt and would just show that you were exempt. We do this for a lot of our govmt and commercial jobs just like the one you are describing.
I am not aware of ANY exemption from the workman's compensation insurance requirement for employees.

Yep in the state of Florida you can be workmans comp exempt if you have under certain number of emlopyees. I am not sure but I think it is 4. I am incorporated and workmans comp exempt.

First Sight Pictures


Bob A
Veteran

Feb 8, 2006, 9:00 AM

Post #8 of 10 (1325 views)
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Re: [bruceo] Liability Insurance [In reply to] Can't Post
In Reply To
I am not aware of ANY exemption from the workman's compensation insurance requirement for employees.

Yep in the state of Florida you can be workmans comp exempt if you have under certain number of emlopyees. I am not sure but I think it is 4. I am incorporated and workmans comp exempt.
Wow, that's a shocker to me. I thought that workman's comp was regulated by federal statute and no employees could be exempted. Just goes to show how legal and tax questions sholuld NOT be asked on internet forums as rules vary wildly by geography.


casvideos.com
Novice

Feb 16, 2006, 6:16 PM

Post #9 of 10 (1254 views)
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Re: [bruceo] Liability Insurance [In reply to] Can't Post
anything like for the UK - england?


ssvp
User


Feb 23, 2006, 7:29 PM

Post #10 of 10 (1204 views)
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Re: [casvideos.com] Liability Insurance [In reply to] Can't Post
State Farm $2 Million Liability with an Inland/Marine Policy $145 a year
For those that don't know Inland/Marine is the commericial equipment coverage from SF, basically for any reason the equipment is replaced. That goes for even if you drop your camera, your covered..

As for workmans comp, I formed a LLC so in Washington I'm exempt..

Members of a limited liability company

(LLC) if they manage the company (and

there are no managers), or managers of a

LLC who are also members and who

exercise substantial control in the daily

management of the company. Only eight

managers may be exempted unless all

managers are related by blood within the

third degree of marriage.


(This post was edited by ssvp on Feb 24, 2006, 7:51 PM)