BUSINESS INSURANCE MAINE
Maine Insurance License: AGN179429
Maine makes a good argument for growing a business in the Pine Tree State. After all, competitive labor costs six percent less than the national rate. It has the lowest tax burden on new investment in the country. If your business specializes in renewable energy, know that Maine oversaw a 22.7 percent boost in clean energy jobs in the past several years. And not to mention, the state is just plain beautiful, boasting 5,500 miles of coastline, second only to Alaska in the U.S. (Check out the Maine Department of Economic and Community Development's page, "Start or Grow a Business," for more compelling incentives.)
Though Maine is renowned for its cold winters, sometimes a nor'easter blows in, damaging property or causing widespread power outages. If these events force your business to close temporarily, the appropriate insurance coverage can spare you thousands in foregone income and repairs. With a few other coverages, such as General Liability, Property, Professional Liability, Workers' Compensation, and Employment Practices Liability Insurance, your business can face the unexpected events that may come its way.
Maine Savings Tips
- Many Maine companies employ people elsewhere in the New England states—and beyond. If you have employees in other states, be sure to report payroll in those states to your workers' comp insurance carrier. If you don't, your employees working in those states may not have coverage.
- As your business expands and contracts over time, you may need to adjust your insurance coverage to reflect your current state of risk. For example, the number of people you employ can have a big impact on your insurance premiums.
- Your Maine-based business may be able to save money on insurance premiums by focusing on and improving safety. Continually evaluating and improving your management processes not only helps to protect your workers, it can mean big savings on premiums for your commercial liability insurance policy.
Maine Business Insurance Licensure Information
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 & Casualty Insurance (License #AGN179429). Verify our licensure with the Maine Bureau of Insurance License Information Search.
Maine Business Links
- NOAA National Climatic Data Center: Annual average number of tornadoes, 1953–2004
- PAH Webmaster (2005-11-02):
1925 Tri-State Tornado
- Maine Workers Compensation Rules
- Maine Bureau of Insurance