Business Insurance in Maine

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Learn about Maine's insurance requirements

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What are the requirements for small business insurance in Maine?

State laws can affect which insurance policies you need for your small business. These policies are required for Maine businesses.
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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. This policy covers medical bills for work injuries and illnesses.

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Commercial auto insurance

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

Maine's commercial auto insurance requirements are:

  • Bodily injury liability: $50,000 per person / $100,000 per accident
  • Property damage liability per accident: $25,000
  • Uninsured motorist coverage: $50,000 per person / $100,000 per accident
  • Medical payments coverage: $2,000

Recommended insurance policies for small businesses in Maine

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How much does small business insurance cost?

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

  • Your industry and risk
  • Coverage limits
  • Location
  • Number of employees
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Insureon specializes in Maine business insurance

In Maine, insurance agents, agencies, 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). Verify our licensure with the Maine Bureau of Insurance License Information Search.

What our customers are saying
"Really fantastic service and follow-up. Didn't feel pressured, felt like they were interested in my business."
Ben Warga
Customer since 2016
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