Video production as a source of income isn’t a get-rich-quick scheme. It takes work.
No, it isn’t easy to do. It requires knowledge, experience, and ability. You have to build all of those.
Yes, you have to get out there and shoot some spec stuff on your own time in order to build a reel you can show. Without a reel, how does any prospective client know if you can produce anything of quality?
Yes, you have to get out there and introduce yourself to folks to build your network. You may even have to work on other peoples’ productions for a bit in order to build your network of crew and talent. It’s called initiative.
Building a video production business, like any small business, is a money pit for the first five years. It won’t get you out of debt as a short-term adventure. You have to pour pretty much everything you make back into the business to pay your own expenses, update gear, etc.
You need to have a website, and you need to own your own domain. None of that myproductioncompany.yahoosites.com or myproductioncompany.wixsite.com crap. If you can’t spring for your own domain, your website won’t present as professional.
You need to have business cards.
You need insurance that covers liability as well as your gear (as you’ve discovered... that ain’t cheap).
You need a reel.
This isn’t just something you do on a lark. You’re building a small business, even as a freelancer. If you want it, you’re going to have to work for it.