Technology continues to miniaturization of high value audio-visual equipment, the equipment has become smaller and smaller, have moved out of the studio and into the field, creating a serious risk and often go undetected. Compounding the risk, a lot of equipment is important in generating income and can be difficult to replace quickly.
Most insurance policies are not designed to provide adequate coverage for the unique exposures associated with high values of AV equipment. If you are looking for audio visual production companies then check https://gigpros.net/.
Image Source: Google
Scheduling tools require descriptions of equipment and value for each piece of equipment covered. Meeting the criteria requires a regular update schedule.
Another challenge referred to in the first paragraph is the potential for generating revenue from equipment. This is a particularly important issue for AV equipment rental agencies. Damaged or stolen equipment can not be hired and if it does not hire that does not generate revenue. The insurance policy can be modified to leave the insured with a large uncovered loss of income, business often ends the show.
Many companies are working with high-value equipment felt the need to work abroad.
If you have a high-value equipment that you use in voice / video production or if you have a high value being rented to someone else, you need to find some extension of coverage to fill the gaps listed above:
o Scope for ways premise equipment of the insured
o Loss of income due to damage or theft of equipment covered
o Coverage abroad