Owned Equipment
The common term is Miscellaneous Equipment and refers to the customary or unique equipment needs of a production. Owned Equipment insurance considers an inventory of equipment owned by the policy holder and insures its total replacement cost value subject to the policy terms and conditions.
Rented Equipment
The common term is Miscellaneous Equipment and refers to the customary or unique equipment needs of a production. Rented Equipment insurance considers equipment not owned by the policy holder. This coverage is often mandatory when a production company hires equipment.
The rented equipment limit of insurance should be enough to cover the total equipment replacement cost value in the production company’s care, custody, control under written agreement(s).
