Rental House Equipment Insurance

Rental House Equipment Insurance
Allen Financial Insurance Group & The Equestrian Group
Rental House
By: Allen Financial Insurance

Rental House Equipment Insurance

AFIG’s Rental House Insurance program is designed for entities continuously engaged in the business of renting equipment to the entertainment, sports and leisure industry.

These companies may provide production equipment such as cameras, lighting, sound, props, sets, wardrobe, trailers and more. They may provide equipment for special events such as props, sets, furnishings and more. They may provide various types of equipment to the sporting industry.

This program is flexible enough to fit the needs of small rental houses up to major national chains. In addition, the program may also be used to cover entities that provide installation and similar activities.

Equipment Rental Houses have unique coverage concerns for which specific policy forms have been designed to accommodate these exposures. AFIG Entertainment provides several services to Rental Houses, and places insurance coverage on many of the specific Rental House Equipment Floater Policy forms.

The typical Equipment Rental House holds it’s customer responsible for loss or damage to the Equipment being rented. This is agreed upon in the Rental Contract, and therefore the Rental Contract is vitally important. AFIG Entertainment will review your Rental Contract for accuracy and content. If the Rentee assumes responsibility for the equipment, then they must also provide proof of insurance providing coverage for that equipment.

AFIG Entertainment will also provide training to your Rental Staff, as well as sample Certificates to educate them on what insurance is applicable and correct, and what does NOT provide the coverage required.

Most Insurance Companies will offer premium credits to the equipment rates for Rental Houses due to the fact that the equipment is usually insured by the Customer. This allows Rental Houses to save money when their equipment is rented to clients that provide proof of insurance coverage for the rental.

Coverage is commonly NOT provided for the equipment while it is in the care, custody and control of the Customer, hence the importance of the Rental House getting a certificate of insurance from it’s client.

Rental Houses commonly request a “Certificate of Insurance” providing proof that they are named as Additional Insured on their Customer’s General Liability policy. This extends the customer’s liability policy to provide protection for the Rental House if the Rental House is named in a lawsuit brought against the Customer.

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Insurance Definitions

Long recognized for delivering superior service, Allen Financial Insurance Group support policyholders through its global network of loss control and claim professionals. Our loss control specialists have a deep knowledge of the entertainment business. They identify potential hazards and help mitigate or prevent losses. They can provide invaluable advice in fire prevention, disaster recovery planning, equipment maintenance and premises safety. The AFIG Entertainment & Media Division provides entertainment insurance coverage on a worldwide basis for Motion Pictures, Television and D.I.C.E. productions.

Props, Sets, Wardrobe and Related Property Floaters

This is an “all risk,” “worldwide,” Inland Marine Floater that covers owned property and the property of others while used or to be used in connection with the insured activities for direct physical loss.

Miscellaneous Equipment

The equipment covered by this floater may include Camera, Sound, Grip, Electrical lighting, Communications and Musical Instrument Equipment, Production Location Equipment (fixed and mobile), Recording Equipment, Theatrical Property, Recreational Area Equipment and all related property.
This is a “worldwide” Inland Marine Floater that covers owned property and the property of others while used or to be used in connection with the insured activities.

Commercial General Liability

Film producers need this protection for their liabilities to others arising out of their operations. This contract protects them for their liabilities for unintentional bodily injury and property damage. It provides coverage for claims of bodily injury and/or property damage arising out of the filming of a picture. This coverage is required prior to filming on city and state roads or on any location sites requiring permits or certificates. Bodily Injury to Cast and Crew members is not covered here and should be covered by a Workers Compensation policy. This policy also excludes property damage to property involved with the production, automobile liability, large watercraft liability, & aircraft liability. These exposures can be insured with specific policies.

Property Damage Liability Insurance (Third Party)

Property Damage Liability Insurance covers loss, damage to, or destruction of property of others, including loss of use of that property in your care, custody or control. Coverage does not apply to liability for damage to property caused by operation of any motor vehicle, aircraft or watercraft, including damage to the foregoing; or liability for damage to any property rented or leased that may be covered under props, sets, or wardrobe; or miscellaneous equipment insurance. This coverage is not included under a Comprehensive General Liability Policy. Property Damage Liability Insurance written as part of a comprehensive general liability policy excludes damage to any property in the production company’s care, custody or control.

Automobile

This coverage protects the film producer for their liabilities arising out of use of automobiles in their business. Physical damage to “hired vehicles” can also be insured. If the production company owns any automobiles, they must be specifically listed on the policy.
Owned Auto Insurance covers autos registered to, or purchased by, the production company.
Hired Auto Insurance is required if the production company plans to rent or hire vehicles.
Non-Owned Auto Insurance provides coverage, if you are sued as a result of damage caused by an employee during the course and scope of company business. Physical Damage Insurance is also available.

Excess Liability

Filming often requires liability coverage in excess of the limits provided in primary General Liability, Auto Liability, Employers Liability and Third Party Property Damage policies. Most entities requiring proof of liability insurance require a $1,000,000 limit. Some locations require higher limits. Excess policies providing substantial limits can be arranged.