Wrapal is proud to announce our new Property Assurance and Damage Waiver feature, brought to you by Athos Insurance. This blog was created to help you understand what the waivers are and how they can be used to protect your shoot.
What is a Damage Waiver?
A damage waiver covers physical damage to third-party properties/locations. , They are to be purchased by the filmmaker, and will cover the filmmaker for damage to the property during the duration of the shoot, depending on the coverage and deductible amounts selected when applying.
Damage waivers are similar in function to the locations portion of the industry standard million dollar policy, but are much more affordable, perfect for indie or student filmmakers on a budget. If you are a property owner, you can encourage filmmakers to add on this Property Assurance & Damage Waiver so that all your physical items on site are covered.
What things are NOT covered by Damage Waivers?
Anything outside of physical damage to the specified properties/locations. Things like injuries to cast and crew members, injuries to any third party person, or damage to gear are not covered.
How much does it cost?
Within the Damage Waiver online form, there is a calculator that will compute what your purchasing price will be. The below price matrix is not absolute, and is intended as an at-a-glance estimation.
How do I apply for one?
To add a Damage Waiver to your booking, simply add or apply for them via the “Additional Resources” section of the Wrapal booking dashboard:
I’m getting a Damage Waiver, do I still need standard production insurance?
Getting the Damage Waiver is a great option for the location(s) you book through Wrapal. While the Damage Waiver is not transferable to properties outside of Wrapal, it can lower the cost of your Production Insurance by covering the property damage portion you’d normally pay for in production insurance. The damage waiver only covers potential damages to the property. It does not cover your production in terms of gear, crew injury, or other location rentals outside of Wrapal.
I’m getting a Damage Waiver, do I still need a Security Deposit?
Security deposits are useful tools and we strongly encourage their use in all bookings. These deposits can help cover productions in the event damages are less than your deductible. They save productions time and hassle by being set up in advance of shoots to respond to issues. It is ultimately up to the property owner to decide whether or not they will require a security deposit after the damage waiver has been purchased.
How do I make a claim?
If something occurs, and you would like to make a damage waiver claim, please contact Athos Insurance at 626-716-9800 or firstname.lastname@example.org
If you have any further questions, please take a look at more answers to common questions in our Property Assurance FAQ.
At Wrapal, we’re always on the lookout for new ways to help your shoot go smoothly. Stay tuned for more of these features in the future!
The Wrapal Team