30 November 2020

Insuring Hired in Film & Media Equipment - What you need to know!

By Michael Wood Head of Performance
If you are familiar with our brand, you may have seen that we recently launched our new online quote and buy system, which means that arranging last-minute cover for your Hired in Equipment (and more!) has never been easier.

Our online quote system allows you to obtain insurance for a specified number of days (between one and 90 days), with the option to amend or add cover after the policy has been purchased.

You can obtain an instant quotation, with the policy documents being available to download from your account immediately upon purchase of cover.

When arranging Hired in Equipment cover, the most important things to consider are:

  • The dates of cover required – although you may only be using a piece of equipment for a shoot on a Saturday, if you are picking the equipment up on a Friday and returning it on the Monday, you would need to insure the equipment for this entire period as it would still be your responsibility if the equipment were damaged, lost or stolen while in your possession.
  • The value of the equipment – as our insurance is on a ‘new for old’ basis, we would need the new replacement value of the item(s) being hired in. If you are hiring several items from different hire companies, this isn’t a problem, as long as we have the full replacement total for everything!
  • The policy excess – there is an excess applicable to each and every claim. This means that if, for example, there was a break-in resulting in several pieces of equipment being stolen, then there would be one excess payable. However, if there was a break-in one day and then another unrelated break-in the next day, these would be treated as two separate claims. We would also suggest checking the excess amount on your quote documents before confirming cover.

We also have annual options, which may be more cost-effective if you have several hires planned throughout the year.

If you have any questions then please do not hesitate to contact me at Kelly.Oates@performance-insurance.tv or on 0208 256 4943.