How does the Support coverage work?
Series - Meet the Members of the Powerful Triad of Audiovisual Insurance.
Hello!
Today we will continue our series “Meet the members of the powerful Triad of Audiovisual Insurance ”. Last week we talked about No Show coverage and our topic today is the Support coverage.
Support coverage is also directly related to your project budget, but its strength lies in the fact that your entire project depends on the existence and good practices in the use of support.
So let's talk about what a support is, what this coverage implies and what are its powers of action within the audiovisual production insurance.
Are you ready? So let's get started.
What is a support?
First, audiovisual insurance support is not an object used to support something. We use the term support to refer to the location where the captured image and/or sound is stored for further editing. This way, it's simple to understand that the support is the camcorder's HD, the camera's memory card, the pendrive, and for vintage ones, it's the film roll, or the negative.
What is Support coverage?
The support coverage, which is also called media insurance for production, is nothing more than a coverage that indemnifies financial losses arising from loss, physical damage or destruction of your recorded material, caused by external causes.
Under what conditions can this coverage be triggered?
Imagine, that you filmed a series, non-stop for a week, and at the end of that period you edited the material, but to your despair, you realized that all the images came out blurry or with a smudge, due to a problem during the capture.
In addition to pulling your hair out and starting to calculate how much it will cost you to re-record all this material, if you have audiovisual production insurance with support coverage included, you will be able to call the insurance company with the help of your broker.
All this, because the Support coverage can be activated when a defect in the production media, cameras and other recording equipment, defect in development, editing or processing, and even defects in the software used is proven.
This coverage also works for damage caused by accidental deletion of recorded material, accidental display in light of blank or exposed film, and also for cases of accidental corruption of captured images and audio.
Important care to your project's support
In a nutshell, support care can be summed up in: “Be careful with your equipment”. And it's a logical thought, since your sound and image capture media are stored, most of the time, inside the camcorder, which means that, if there is moisture inside the equipment, for example, there is a great chance of a problem occuring with your captured material.
Know very well what standards are accepted in the use of your equipment, what is the maximum exposure to light, cold, rain, wind and sand. All climatic factors can and will influence the proper functioning of your equipment during filming.
Check out our articles on this topic, both for the issue of cameras and the use of drones .
Be aware that, if at the time of claim settlement it is proven that the damage to the captured material was caused by incorrect use of the camera, lenses, lighting equipment or production media, the indemnity will be denied. Support coverage is based on accidental external damage, not misuse.
Some examples of claims:
Due to an accidental error during filming, the entire team had to return to Italy to reshoot the material for two days. The cost of this was 360 thousand euros.
During post-production, damage to the negative was proven, in a certain part of the recording the damage was so serious that it was necessary to record a day of scenes again, which cost 175,000 euros for the production.
In the recording of the film JAWS, filming at sea caused delays and more delays, and one of the main reasons was the malfunction of the cameras and the consequent problem of the captured media. These support issues resulted in a production originally scheduled for 55 days, taking 159 days to complete recordings. This meant, in financial terms, a $5 million increase over the initial $4 million budget. Much higher than expected, isn't it?
Statistically speaking, support coverage is responsible for around 20% of claims in audiovisual productions and its indemnity cost reaches around 18% of the final production budget. So, if your project has a production problem, and your budget is 2 million reais, your uninsured loss can be at least 360 thousand reais. Did you feel the weight in your pocket?
We hope you understand the importance of this coverage, as it is the basis of protection for your audiovisual production. And don't miss our next integral coverage of the powerful triad, the extra costs.
We're waiting for you for the next #MondayBlog!
Have a great week, lovers!
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