Business Insurance in Maine

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Get small business insurance for your Maine business

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Learn about Maine's insurance requirements

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Recommended insurance policies for small businesses in Maine

General liability insurance icon

General liability insurance

This policy is important for all Maine businesses. It covers common risks, including customer injuries. Most commercial leases require this business liability insurance.

BEST FOR
  • Customer bodily injuries
  • Damaged customer property
  • Libel and other advertising injuries
Professional liability insurance icon

Professional liability insurance

This policy, also called errors and omissions insurance (E&O), protects professionals whose work depends on their expertise. It helps pay legal defense costs related to the quality of your work.

BEST FOR
  • Work mistakes and oversights
  • Professional negligence lawsuits
  • Late or incomplete work
Cyber liability insurance icon

Cyber liability insurance

This policy covers financial losses from data breaches and cyberattacks. It's recommended for Maine businesses that handle credit card numbers and other sensitive data.

BEST FOR
  • Customer notification expenses
  • Fraud monitoring services
  • Data breach lawsuits
Business owner’s policy icon

Business owner’s policy

A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of commercial insurance for a Maine business.

BEST FOR
  • Customer injuries
  • Damaged customer property
  • Damaged business property
Workers’ compensation insurance icon

Workers’ compensation insurance

Maine state law requires every business that has employees to provide workers’ compensation insurance. It also protects sole proprietors from work injury costs that health insurance might deny.

BEST FOR
  • Employee medical expenses
  • Disability benefits
  • Legal fees from employee injuries
Commercial auto insurance icon

Commercial auto insurance

This policy is required for business-owned vehicles in Maine. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.

BEST FOR
  • Accidents involving business vehicles
  • Theft of a business vehicle
  • Damage to a company vehicle
Looking for different coverage? See more policies.

Maine business insurance requirements

State laws can affect which business insurance coverage you need. These policies are required everywhere in Maine, from Portland to Augusta.

Blue check mark

Workers' compensation insurance

Maine state law requires businesses with one or more employees, full-time or part-time, to carry workers’ compensation insurance. Independent contractors do not count as employees, but if those contractors employ subcontractors, the subcontractors must be covered by a workers’ comp policy.

Workers' comp insurance covers medical costs for work-related injuries and illnesses. It also provides disability benefits to injured Maine workers.

Blue check mark

Commercial auto insurance

All business-owned vehicles in Maine must be covered by commercial auto insurance. This policy covers the cost of accidents in work vehicles.

Maine's minimum requirements for auto liability insurance are:

  • $50,000 per person bodily injury liability
  • $100,000 per accident bodily injury liability
  • $25,000 property damage liability
  • $50,000 per person uninsured motorist coverage
  • $100,000 per accident uninsured motorist coverage
  • $2,000 per person medical payments coverage

Trucking companies may need additional coverage to comply with regulations.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy (BOP).

How much does small business insurance cost?

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Commercial insurance can be affordable for Maine small business owners. Factors that influence the cost include:

  • Type of business and its risks
  • Business revenue and location
  • The number of employees
  • Types of insurance purchased
  • Deductibles and other coverage options
View Small Business Insurance Costs
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Find the right policies and get your certificate of insurance

Insureon's licensed agents can help you find policies that fulfill Maine's requirements and your business insurance needs. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.

In Maine, insurance agencies, agents, and brokers are licensed by the Maine Bureau of Insurance. Insureon is licensed in Maine as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance (license number AGN179429). To verify our licensure with Maine's License Information Search, select "prof. and financial regulation" for department, "insurance" under agency, and then our license number, AGN179429.

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