Film Equipment Rental Insurance in NYC: All You Need to Know
Key Takeaways
- Short-term policies suit single projects; annual policies offer better value for frequent rentals.
- On feature films, allocate 2–3% of the total production budget for comprehensive coverage.
- Always maintain detailed documentation and promptly report theft or other incidents.
- Verify that you have “unattended vehicle” coverage due to NYC’s high equipment theft risk.
- Avoid underinsuring, ignoring exclusions, and using incorrect COIs.
Film equipment rental insurance is essential for any filmmaker shooting in New York City. Without the right coverage, you risk having your rental denied, your permit blocked, or your project negatively affected by theft or damage. NYC rental houses won’t release high-value gear without proof of insurance, and the city won’t approve film permits without valid liability coverage.
This guide walks you through how rental gear insurance works, how to get a Certificate of Insurance (COI), and what coverage you really need. It also explains key policy differences and why insurance isn’t just a formality—it’s a core part of your risk management plan and a smart way to keep your production on track.
What Is Film Equipment Rental Insurance?
Film equipment rental insurance is a specialized policy that covers high-value rented gear—such as cameras, lenses, lighting, monitors, and accessories—in case of loss, damage, or theft. Unlike general homeowner or business insurance, this insurance generally falls under the category of inland marine insurance, also known as an equipment floater. Inland marine insurance policies specifically cover property that is frequently moved from one location to another, making it ideal for film production equipment.
Nearly every rental house in NYC requires renters to submit a COI listing them as Loss Payee and/or Additional Insured before they’ll release any gear. Without it, expect to pay a hefty deposit or be denied altogether.
Camera Rental Insurance: Key Terms and Basics
- Certificate of Insurance (COI): A document that proves your insurance coverage and lists the rental house as a Loss Payee and possibly Additional Insured.
- Loss Payee: The party that receives reimbursement if the gear is damaged or stolen.
- Additional Insured: A party, like the rental house or the City of New York, that is protected from third-party liability under your policy.
- Inland Marine Insurance: Specialized coverage for movable property like film equipment.
- Deductible: The amount you pay out of pocket before your insurer contributes. ShareGrid, for instance, has a standard deductible of 12% of the gear’s value.
What Does It Cover?
The heart of the policy is coverage for damage, loss, or theft of rented equipment. Most reputable plans are “all-risk,” meaning they cover nearly everything unless explicitly excluded. Common scenarios include accidental drops, fire damage, theft from vehicles, water exposure, and vandalism.
Essential add-ons and built-in coverages often include:
- Unattended vehicle theft coverage — a must-have in NYC
- Worldwide gear protection
- Fraud/voluntary parting protection (e.g., scams or fake renters)
- Shipping and transit damage
- Replacement cost coverage (not depreciated value)
Policies must always match or exceed the full replacement cost of all rented items. Don’t under-insure, if your rented kit is worth $30,000, your policy should cover at least that much.
Short-term vs. Annual Policies
Figuring out whether to rent film equipment insurance short-term or annually hinges on how often you rent gear and your production plans:
- Short-Term Policies: Ideal for one-time or infrequent rentals. These policies typically range from $165–$300, covering up to 30 days. They’re fast to set up and great for last-minute bookings, but cost more per day.
- Annual Policies: Designed for regular renters or production teams. Premiums start around $340–$600 and often include coverage for both rented and owned gear. You can issue COIs anytime without additional cost.
| Policy Type | Estimated Cost per Rent | Best For |
| Short-Term | Small: ≈ $165–$300 Large: ≈ $500+ | Indie films, one-day shoots |
| Annual | Small: $340–$600+ Large: ≈ $5000+ | Frequent renters, content creators, production companies |
Keep in mind that the advertised minimum coverage is usually bare bones. In practice, quotes for larger rentals with key add-ons often run around $500 per day for short-term use, and up to $5,000 per year for long-term coverage.
Deductibles and Their Impact
The deductible amount greatly affects your financial liability in case of a loss or damage:
- Traditional insurance providers usually offer fixed deductibles ($500–$1,000 per claim), providing clarity and predictability.
- Marketplace insurers like ShareGrid utilize percentage-based deductibles (typically between 12–20% of the total equipment value), which can significantly increase out-of-pocket costs for high-value equipment claims.
Typical Budget Allocation for Insurance
Insurance is a necessary budget line for production companies, typically accounting for around 2–3% of the total production budget. Feature film insurance costs can vary significantly, ranging from $2,000 for small-scale projects up to $15,000 or more for large, high-risk productions.
NYC Rental House Insurance Requirements
Rental houses in NYC uphold strict insurance standards to protect their high-value inventory. Typical requirements include:
- Inland marine equipment coverage
- No unattended vehicle exclusion
- Certificate of Insurance(COI) listing them as Loss Payee and/or Additional Insured
- Policy dates must match rental duration
Camera Rentals NYC needs proof of insurance for all rentals. For rentals over $5,000, this is a must-have. For smaller rentals, we might be able to work something out with a refundable credit card hold. We put a temporary hold on your credit card for the deductible, usually between $250 and $2,500, no matter if you have insurance or not. See our rental insurance details here.
Camera Rentals NYC Trusted Insurance Providers
We’re recommending these providers because we’ve worked with them multiple times and trust their service. That said, we’re not responsible for any third-party services—even if we believe they’re the most reliable:
Athos Insurance
Offers flexible and comprehensive short-term and annual film equipment insurance specifically tailored for filmmakers.
- Features:
- 24/7 online quotes and COI management
- Short-term coverage starts at ~$245
- Annual policies start around ~$470
- Includes unattended vehicle coverage
- Fast COI support and customization
ShareGrid Insurance
Provides affordable, convenient short-term integrated insurance coverage, making it ideal for filmmakers needing quick, straightforward insurance solutions for small to medium-sized rentals.
- Features:
- Integrated per-rental coverage on ShareGrid platform
- Damage and Theft options
- Deductible of ~12% of gear value
- Instant setup, ideal for small projects and lower-value gear
Please note: the links in this section are promotional, and we may earn a small benefit as an affiliate partner.
Film Equipment Rental Claim Process and Best Practices
If something goes wrong, the claims process should be fast and smooth—if you’re prepared:
- Inventory Your Gear: Keep a cloud-based spreadsheet with serial numbers, receipts, and photographs.
- Secure Storage: Use lockable cases, hide logos, and store gear in supervised or locked areas.
- Respond Promptly: File a police report immediately and notify your insurer within 24 to 72 hours.
- Cloud Documentation: Save your COIs, invoices, and contracts in an easily accessible folder.
Being able to quickly submit this information can significantly speed up claim processing. Download our handy checklist we prepared for you to help guide your process. Keep it close and use it if needed.
[Download our film equipment insurance claim checklist]
NYC Risk Profile Snapshot
Given the high rate of grand larceny in New York City, where over 40,000 cases occur yearly—including many involving stolen film equipment—and considering recent NYPD recoveries of rented gear, obtaining specialized insurance coverage like “unattended vehicle coverage” is crucial for filmmakers working here. This protects your rentals from theft.
Risk Management and NYC-specific Tips
Reducing risks associated with equipment rentals in NYC involves adopting comprehensive risk management strategies:
- Utilize secure parking facilities and avoid leaving equipment unattended in vehicles or unsecured locations.
- Invest in durable, hard-shell equipment cases secured with TSA-approved locks.
- Employ GPS tracking devices, such as AirTags, to improve the chances of recovery in case of theft.
- Report theft immediately to the police to initiate the claims process.
- Maintain meticulous documentation of all equipment serial numbers, rental agreements, and photographic evidence of equipment condition.
Common Mistakes to Avoid in NYC
Filmmakers new to renting in NYC often make these avoidable errors:
- Underinsuring Equipment: Always insure gear for full replacement cost.
- Ignoring Vehicle Exclusion Clauses: Ensure theft from unattended vehicles is explicitly covered.
- Submitting Incomplete COIs: Double-check that all parties and required language are included.
- Using Non-Specialized Agents: Work with insurers that understand film production risks.
Why This Insurance Matters More Than Ever
In NYC’s fast-paced production scene, film equipment rental insurance isn’t just a box to check—it’s your safety net. With high-cost gear, tight shoot schedules, and complex permit rules, one mishap can throw everything off. Insurance helps you bounce back fast, keep your project on track, and protect your reputation.
While premiums might seem like an extra burden, they’re really smart investments. NYC’s high-value gear, mobility issues, and theft risks make strong coverage a must. Solid insurance planning not only shields your budget—it keeps your production running smoothly, no matter what the city throws at you.