Does your production company need to purchase insurance for multiple film projects annually? Do you film your projects concurrently? If so, you may be a DICE producer. DICE stands for documentary, industrial, commercial, and educational films but DICE insurance policies don’t just cover DICE productions. That’s their common name, but we have access to DICE policies that also cover short films, feature films, music videos, etc.
Because DICE producers film multiple projects back to back or even at the same time, they find that their insurance needs are broader. One film production may require Hired Auto Insurance, while another does not.
So, that begs the question… how can you ensure complete coverage, without paying for insurance policies you don’t need?
DICE vs Production Insurance Packages
You have two very good options for DICE insurance. You can have your insurance agent put together a production package that caters to DICE producers or you can opt for short-term insurance policies for each project.
Normally, product packages offer coverage for a one-time production of a feature film. Your agent would start with a basic like General Liability Insurance and add additional coverage as needed.
DICE production packages are different. They are put together in the same way but cover multiple shoots occurring simultaneously or during a specified time period.
DICE vs Short-Term Policies
A DICE Production Package policy is typically an annual policy that covers all productions filmed during the annual policy period, whereas a short-term policy only applies to a single film and can cover periods as short as ten days.
If you are filming two productions at once, it might actually be more cost-effective to take out two short-term policies rather than to put together a DICE insurance package. The best way to find out is to call your insurance agent and have them give you a quote.
How much does DICE insurance cost?
Typically, the cost of your DICE policy is based on your estimated production costs for your projects over the term of the policy. In some instances, the insurance company may choose to audit your projections during the year and adjust your premium up or down based on new estimates.
How can you get more information?
To get the best insurance rates you need to speak with an insurance agent that deals solely with film production companies. Entertainment insurance requires specialized knowledge of the industry and the needs of filmmakers like you.
The team at Equipment and Production Insurance are film, photographic & entertainment industry insurance specialists. Whether you need short-term, annual, post, documentary, commercial, equipment, rental house, E&O, or rent your own insurance, you can rely on their quick and knowledgeable assistance to meet all of your production insurance needs.