AV/Equipment Floaters Insurance, also known as Inland Marine Insurance for Audiovisual (AV) and equipment, is a type of insurance coverage designed to protect movable property and equipment that is not tied to a fixed location.
This insurance is particularly relevant for businesses and professionals in the audiovisual, film, television production, and entertainment industries where valuable equipment is frequently transported to different locations for various projects.
Key features of AV/Equipment Floaters Insurance may include:
Coverage for Equipment: This insurance typically covers a range of equipment, including cameras, sound equipment, lighting gear, and other specialized tools used in the audiovisual industry.
Transit Coverage: Protection extends not only to equipment stored at a fixed location but also during transit to and from various project locations. This is crucial for businesses involved in on-location shoots.
Coverage for Various Perils: The policy may provide coverage for perils such as theft, damage, loss, and other specified risks. Some policies might also cover accidental damage or breakdown of equipment.
Worldwide Coverage: Coverage may extend globally, allowing protection for equipment used in international projects.
Rental Equipment Coverage: In some cases, AV/Equipment Floaters Insurance may include coverage for rented equipment, providing financial protection in case of damage or loss to items not owned by the insured.
Flexible Coverage Limits: Policies can be tailored to the specific needs and value of the equipment owned or used by the insured party.