ASK & DISCUSS
INDEXCan anyone recommend a good insurance company who would supply a completion bond as well as everything else?
12 years, 3 months ago - Stuart Hall
Hi everybody
I am in the latter stages of producing a micro / very low budget feature. I have some private investment in place, but in order to protect them and the film, I'm looking at getting a completion bond set up. Ideally, it would be from an insurance company who could also insure the whole film. I'd need public liability, kit hire, general pre, post and production cover.
Anybody used a company who can do a competitive rate that won't totally blow my budget?
Cheers
Only members can post or respond to topics. LOGIN
Not a member of SP? JOIN or FIND OUT MORE
12 years, 3 months ago - Lee 'Wozy' Warren
The issue with completion bonds, is that they have very strict requirements. For example, most will require 10% of the budget be kept back in cash. If your budget is really low you may need every penny you may not be able to withhold any funds like that. Plus the cost could be prohibitive. If you have a track record with filmmaking then that will go in your favour.
Just a thought.
Response from 12 years, 3 months ago - Lee 'Wozy' Warren SHOW
12 years, 3 months ago - Lee 'Wozy' Warren
Is your budget over £100k? And do you have a bondable Line Producer?
Response from 12 years, 3 months ago - Lee 'Wozy' Warren SHOW
12 years, 3 months ago - Michael Patrick Kelly
No insurance company is going to issue a completion bond for a micro-budgeted film. You will need a budget of at least 2 million dollars to qualify for a completion bond. Most companies who deal in completion bonds won't touch any film under 5 million.
When producing micro-budgeted films you need to make sure you have a general liability policy covering up to 1 million dollars and workman's comp for actors and employee's. That's the best you can do and is very important.
Perhaps, Europe is different, my knowledge comes from shooting mostly in the States. Good luck!
Response from 12 years, 3 months ago - Michael Patrick Kelly SHOW
12 years, 3 months ago - Stuart Hall
Cheers Wozy, good to know. I think I could potentially keep 10% back in cash. Any idea of where I could get a quote for one?
Response from 12 years, 3 months ago - Stuart Hall SHOW
12 years, 3 months ago - Lee 'Wozy' Warren
Michael is correct I'm afraid...
Response from 12 years, 3 months ago - Lee 'Wozy' Warren SHOW