Maine businesses are using drones to create unique video, capture aerial shots, and check locations that would otherwise be hazardous or difficult to access. Photographers and videographers capture unique images and videos. Marketers use drones to create compelling and content. Real estate agents and developers use drones to show the attractiveness and potential of properties.
New Drone Insurance Program in Maine
We were excited to learn today about Acadia Insurance‘s new drone insurance program. Until today, our clients have had to insure their drones in Maine with specialty insurance programs. That meant separate billing, coverage and claims. Sometimes, it’s even meant that they had to work directly with the insurance company, with no agent to help. Insurance company financial stability isn’t a given for these programs.
The Acadia program allows Maine businesses to insure their drone with the rest of their property and liability. One bill, one claim adjuster, one agent. Acadia is based in Westbrook, Maine and already insures thousands of Maine businesses. They’ve introduced special programs inspired by iconic and growing Maine businesses, from breweries to artisans and contractors.
Do you use a drone in your Maine business? Have you bought insurance from a specialty program or an insurance company you’ve never heard of? Do you wonder if they’ll be able to pay claims? Do you struggle to speak to a human at your insurance company? Call a Noyes Hall & Allen Insurance agent in South Portland at 207-799-5541. We’re eager to see if Acadia Insurance can help Maine businesses insure their drones with a Maine insurance company.
Maine small businesses face many of the same hazards as their larger counterparts. They are also unique, and as such, they have unique insurance needs. For businesses in the Portland, South Portland and Scarborough, ME area, the agents with Noyes Hall & Allen Insurance can help you to find the right insurance policy to protect their unique operations.
Maine small businesses are not legally required to carry property or liability insurance. If your business has employees, you must carry Workers Compensation insurance, though. Smart business owners know that insurance is a cost-effective way to protect their investment in property such as inventory, fixtures and equipment. They also know that business liability insurance will protect them from lawsuits alleging negligence that causes injury or property damage.
Many business contracts require proof of insurance. These include rental agreements and leases, equipment leases, and independent contractor agreements. A Noyes Hall & Allen Insurance agent can help you determine what kind of insurance you need and how much. They’ll help work within your budget so you don’t buy too much – or too little – insurance. For those in the Greater Portland, ME area, Noyes Hall & Allen Insurance offers the choice of several of Maine’s preferred insurers. We’re independent and committed to you. Call us at 207-799-5541.
If you’re starting or running a business in Maine, your budget includes insurance. How much fire, auto or liability insurance do you need, and what will it cost? The answer varies, depending on what your business does. Restaurants pay more for fire insurance because of open flames and heat. Web designers pay more for professional insurance due to copyright infringement hazards. Breweries and other manufacturers spend more for product liability insurance. Contractors and food trucks pay more for auto insurance because they have a lot of equipment on the road.
Your business location affects your insurance costs, too. Business insurance in Portland or Southern Maine may cost more due to more congested roads, exposure to out-of-state travel and more a more litigious environment. But, business fire insurance may cost less in Portland, South Portland, Scarborough or nearby southern Maine towns due to strong fire protection.
Average Costs for Small Business Insurance in Portland Maine
The business clients of Noyes Hall & Allen Insurance, an independent agency in South Portland Maine, pay an average of:
$3600 for all their commercial vehicles
$4500 for workers compensation
$1400 for business property insurance
$2600 for business liability insurance
$2750 for professional liability (Errors & Omissions) insurance
Those figures include all business clients, large and small. Some clients only need business liability coverage; others need all the insurances.
What Would It Cost to Insure Your Maine Business or Idea?
If you own a business or a startup business in Maine, we can help you find out. We offer a choice of Maine’s preferred business insurance companies, so we can survey the market. We’re independent and committed to you. Call a Noyes Hall & Allen Insurance agent in South Portland Maine, or click “get a quote” above. In the end, you’ll know how much to budget for insurance, and what kind of business insurance you need.
Having the right home, condo or renters insurance policy is an essential step toward protecting your most valuable asset. It’s an important tool that will protect you and your family financially should a disaster occur. Home insurance policies allow you to recover following events such as fires, weather damage, theft or vandalism. They can also help with the replacement of structures on your property if they are destroyed. The coverage you need depends on your situation. That is why it is important to get to know your agent at Noyes Hall & Allen Insurance. They serve the Portland, ME area, so they understand the challenges that Maine homeowners face.
Liability Insurance Protects Your Assets
One aspect of home insurance to address with your agent is the amount and type of liability insurance that your policy provides. If someone is injured and you are found to be at fault or negligent, you could be held responsible for their medical expense and legal fees if they decide to sue. Injury can be caused by a dog bite, slip and fall, swimming pool accident or even a rock thrown from a lawn mower. This can financially ruin many homeowners. Having the appropriate amount of insurance can prevent this unfortunate situation and help you recover financially. You want to take care of your obligations. An adequate home insurance policy can help you achieve these goals.
Questions About Insurance and Your Personal Liability?
Contact a Noyes Hall & Allen Insurance agent in South Portland at 207-799-5541. Our knowledgeable staff has worked for a long time with clients throughout Portland and the southern Maine area, so we understand the needs that you, as a homeowner, have. Just checking prices for now? You can get up to 5 instant Maine home insurance quotes by clicking the “get a quote” button above. We offer a choice of Maine’s preferred insurance companies, so we can compare options for you. We’re independent and committed to you. Contact us and get the protection and coverage you need today!
Two types of hazard insurance commonly cover Maine homes and property: a homeowners policy and a dwelling fire policy. Each can satisfy your mortgage company’s hazard insurance requirements. Homeowners and dwelling fire policies provide different coverage. Here are some of the major differences.
Maine homeowners insurance policies are designed for owner-occupied properties, usually one- or two-family homes. Insurance companies look to write homeowners policies on well-maintained year-round homes with good claim history.
Homeowners policies provide coverage for more classes of property than dwelling fire policies. Dwelling fire policies usually provide little or no contents coverage, while homeowners policies aim to cover most of your belongings. You can tailor a homeowners policy for special types of property like jewelry, art or firearms. These aren’t well covered by off-the-shelf homeowners policies or dwelling fire policies.
Dwelling Fire Policy – A La Carte Coverage for Unique Properties
Dwelling Fire policies are designed to cover only the things you or the insurance company want to. Is your roof is in poor shape? Your insurance company might exclude damage for water leaks. Own a Maine camp with no plumbing? You don’t need insurance for damage from frozen pipes. Dwelling fire policies allow you to customize your policy by choosing from the basic DP-1 form, the broader DP-2 form, or the broadest DP-3 form.
Liability coverage on a dwelling fire policy is limited to the premises. Homeowners liability coverage follows you worldwide. Dwelling fire policies also don’t cover theft of contents. These characteristics make dwelling fire policies ideal for insuring tenant-occupied homes or income properties in Maine.
Comparing Homeowners and Dwelling Fire Policies
Do you live in Portland or the southern Maine area? Do you own rental or income property? We’re happy to answer your questions about hazard insurance for your mortgage lender, homeowners insurance or dwelling fire insurance. We can explain the difference between various policies. We offer a choice of several insurance companies, so we can shop and compare insurance for you, and help you choose the proper insurance to meet your needs. We’re independent and committed to you. Call Noyes Hall & Allen at 207-799-5541, or click the “get a quote” link above.
Do you need to add a new driver to your insurance policy? How much will it cost? Does Maine car insurance cost more for boys than girls? How can you reduce the auto insurance cost of a Maine teenager? These are common questions for parents of newly licensed drivers.
What Influences Teen Driver Insurance Costs?
Experience – Teenage drivers cost more to insure until they prove themselves.
Savings tip: Every year the driver remains accident-free and violation-free, the cost decreases.
Gender – Boys do cost more to insure than girls. The gap isn’t as large as it once was, but it remains. That’s because boys’ auto insurance claim experience is worse than girls.
Access to Vehicles – If the number of drivers and vehicles are equal, the insurance company assumes that your teen driver has regular access to a vehicle. That’s called a “principal operator” in insurance lingo. Insurance companies charge more for that regular access than occasional use of the vehicle. Makes sense, doesn’t it?
Savings tip: If your teen driver lives at school more than 100 miles from home, without a vehicle, you’ll pay reduced insurance rates. This insurance discount is again based on limited access to vehicles.
Education – Many insurance companies offer discounted auto insurance rates to young drivers who:
– have passed a driver education course.
– are on the honor roll or dean’s list
– earned a high school diploma, are enrolled full-time in college, or have a college degree.
Vehicle Driven – Insurance companies base their rates on individual vehicle characteristics. High performance, high value or highly damageable vehicles cost more to insure.
Savings tip: Standard vehicles with widely available and inexpensive replacement parts are cheaper to insure.
Coverage Purchased – By law, every vehicle registered in Maine must have liability, uninsured motorist and medical payments insurance. The higher the limits you buy (and, you should), the more it costs. If you choose to insure it against collision and other damage, be aware that it costs more for younger drivers.
Savings tip: If you own a vehicle outright, you may choose not to purchase physical damage. Just make sure you can afford to pay to fix the car if it gets in a wreck.
Insurance Company Rates – Each car insurance company files its own rates with the State of Maine. The insurance company that had the best rates for 2 adults and 2 cars may not be the best value when you add a young driver. The only way to know for sure is to check rates.
Savings tip: As an independent agency, Noyes Hall & Allen can compare rates from several insurance companies at one time. That allows you to save money by changing insurers without having to start a whole new insurance relationship.
The Rest of the Family – If your policy has a surcharge for accidents, it will cost more to add a young driver. If you have a clean record and preferred rates on your current policy, young drivers often cost less to add.
How Much Does It Cost to Insure a Teen Driver in Maine?
As you can see from the 8 factors listed above, the cost of adding a driver to your insurance in Maine varies widely. But, let’s ballpark it at $800 per year for an occasional operator with a clean record. Double that if you’re adding a vehicle with liability only, so that they’ll be a primary operator. If you add collision and comprehensive coverage, it will be even more.
Do you live in Southern Maine or the Portland Maine area, and want to compare car insurance rates to add a new driver? Click the “get a quote” button to check prices with 5 different insurance companies in 10 minutes. Prefer to work with a human? Contact a Noyes Hall & Allen Insurance agent in South Portland at 207-799-5541. We’re independent and committed to you.
If you own a business in Portland Maine, you may want an outdoor sign or awning to attract and help customers. Signs can be simple or elaborate, carved wood or electric, mounted or hanging. But all signs need a City of Portland sign permit from City Hall. You can find the application at the Citizen Self Service portal. Most sign permits cost $30 plus $2.00 per square foot. Sidewalk sign permits cost $25 plus $0.20 per square foot.
You’ll need to show proof of insurance for a Portland Maine sign permit. Your insurance policy must name the City of Portland Maine as additional insured with respect to the sign.
Why Does the City of Portland Maine Need to be an Additional Insured for My Sign Permit?
When you apply for your permit, you agree to be 100% responsible for your sign. This is called a “hold harmless” agreement. The city wants proof that you have insurance to back that up. They want to know that your insurance will pay if your sign injures someone or damages property. That’s one reason they require to be named as an Additional Insured on your business liability policy with respect to the sign.
When you add an additional insured on your business liability policy, it does two things.
Extends coverage to protect them under your insurance policy
Notifies them if your policy cancels for any reason
How to Get Proof of Sign Insurance
Noyes Hall & Allen Insurance can help you show proof of insurance for your Portland Maine business. Often, you must show this before you even open your business or move into the location. Sign insurance isn’t expensive. It’s often part of another policy, such as a package policy or a businessowners policy.
What Does Business Sign Insurance Do?
Sign insurance can protect
The value of the sign against vandalism, wind or other damage. The city doesn’t require this.
Your liability if your sign injures someone or damages property. That’s the part that your Maine town or city requires.
If you’re opening a business in Portland Maine and want to know more about insurance coverage and cost, contact a Noyes Hall & Allen Insurance agent. We offer a choice of many top Maine business insurance companies. We can help you find the right insurance for your business and budget. We’re independent and committed to you.
Are you a small business owner in Portland, ME looking to protect your assets? The last thing that you need is for disaster to strike and to learn that your policy limits are too low for you to rebuild the company. Noyes Hall & Allen Insurance in South Portland can help you determine how much coverage your small business needs to survive a catastrophic event.
What is considered a small business in Maine?
By definition, a small business owner in Portland, ME is a someone who owns a company with fewer than 50 employees. Technically, sole proprietors are considered small business owners even though they are the only employee at their company. Even those who work from home should consider commercial insurance since homeowner’s policies tend to reject claims resulting from conducting business in the residence. Imagine the entire cost of medical bills for one of your clients resting on your shoulders because your homeowner’s insurance policy refused to cover a business-related slip-and-fall incident!
How much coverage do you need?
The amount of coverage varies by business. Many low-risk companies such as those primarily operated online may think they only need a minimal amount. Retail business owners might understand the exposure to loss that their customers’ foot traffic creates, and be more likely to want higher insurance limits. In reality, your liability limit should be at least $1,000,000 per occurrence – higher if your business’ net worth exceeds that. Of course, Maine small business owners with employees also need to buy workers compensation insurance.
You have worked hard to establish yourself as the owner of your company. Do not let an incident threaten your financial stability. Contact Noyes Hall & Allen Insurance today at 207-799-5541 for a Maine business insurance quote!
An Additional Insured (AI) is someone else who is added to your business insurance policy. That coverage might last one day, one job, or all year.
Additional Insureds get two valuable kinds of protection:
Defense – if someone sues your AI for something covered by your insurance, your policy steps in to defend them.
Bodily Injury and Property Damage – your policy will pay on behalf of the AI for someone else’s medical bills or property damage .
Why Would I Agree to Cover Someone as Additional Insured?
Usually, it’s because you really want to sign a contract that requires it. Often, the contractual party with the most bargaining power is the one named AI. The weaker party adds them to their insurance. We didn’t say it was fair, did we?
For example, a landlord with a prime retail location might require tenants to add them as Additional Insured. Because you really want to be in that location, you could agree.
Additional Insureds are also common in construction trades. The practice may reduce finger-pointing and expedite settlement of accidents and claims.
What are the Disadvantages to Adding an Additional Insured to Your Policy?
Adding an Additional Insured essentially shares your insurance with someone else. Their claims become your claims. Their troubles become yours. It’s like a shared data plan, but with a maximum cost in the millions. What if your Additional Insured has a lot of claims?
Your insurance company might raise your rates, refuse to renew, or even cancel your policy.
Many commercial liability policies have an “annual general aggregate” limit. Each claim reduces the fund available to pay future claims. You may be left with a lot less insurance – less than your next job requires.
How to Add an Additional Insured to Your Insurance Policy
Contact your insurance agent if you want to add an AI to your policy. They should review the contract and your policy. They can advise you how this will affect your business and your insurance costs.
Can My Insurance Company Refuse to add an Additional Insured?
Yes. The insurance company will review your contract and exposure it creates. They may decide that it’s too risky. Some insurance policies don’t permit Additional Insureds at all. Professional liability policies are a good example. Each party should be responsible for the performance of their own professional activities.
How Much Does it Cost to Add an Additional Insured?
Additional Insured costs vary among policy types and insurers. Some business policies have “blanket additional insured” endorsements. For a flat price, these cover anyone that you contractually agree to include as AI. Otherwise, insurers charge for each Additional Insured, usually starting at $25.
Are “Proof of Insurance” , “Certificate of Liability Insurance” and “Additional Insured” the Same Thing?
No. Certificates and other proof of insurance forms are just that. They show that you have insurance at a moment in time. But if your policy doesn’t include an Additional Insured, proof of insurance doesn’t change that.
However, Additional Insureds usually DO ask for Certificates of Insurance. They want to prove that they are Additional Insureds on your policy. Your agent will only provide this if your certificate holder has AI status.
Is your business in the Portland Maine area? Do you need help with contracts, insurance requirements, additional insureds, leases or equipment rental? Contact a Noyes Hall & Allen business insurance agent at 207-799-5541. We offer a choice among Maine’s preferred business insurance companies. We can help you find the right fit for your business and your budget. We’re independent and committed to you.
If you’re planning to retire or recently retired, CONGRATULATIONS! It’s time to enjoy what you’ve worked so hard for. Many people dream of retiring in Maine. Of course, some of us are lucky enough to already live here!
Retirement finances can be a source of anxiety. No matter how much you’ve saved for retirement, you may wonder:
Will I Outlive My Money?
How Can I Safely Reduce My Monthly Expenses?
Can I Reduce My Insurance Now that I’m Retired?
Can I Live on My Monthly Retirement Income?
Maine Retirees Are:
House Rich – Maine condo and home values are at an all-time high. With even modest savings, you may have a lot of net worth to protect. Make sure you have enough insurance to rebuild or relocate after a disaster. Protect your assets against lawsuits from injuries or property damage you might cause.
Income Tight – You’re on a fixed income. Every monthly payment reduces your retirement fund. You watch expenses more closely than ever.
Closer to Home? – Travel is now for pleasure, not work. You may drive fewer miles than you used to. Do you plan go south in the winter? What happens to your home and your car while you’re away?
Uncertain About the Future – will you stay healthy enough to do the things you want to? If there’s a disaster, will you have enough money to live the life you do now? If you can’t drive, who will help you with your errands?
Done with Property Maintenance – you spent years mowing, shoveling, landscaping and painting. Now someone else can climb the ladder or wrestle the snowblower. Hiring contractors can open you up to liability if they hurt someone – or themselves.
Do You Need Less Insurance in Retirement?
As you prepare for retirement in Maine, you may be eager to reduce your insurance costs. You want to keep monthly expenses down because you’re on a limited income. But you also want to protect the assets you’ve spent your life accumulating. A good insurance agent can help you pick the coverage you need within your budget.
5 Retirement Planning Insurance Value Tips
Buy enough liability insurance – and not too much. Your auto and homeowners liability insurance limits should at least equal your net worth. If your total assets exceed $500,000, keep your umbrella policy (or buy one). Umbrella policies are one of the best insurance buys; $1 million coverage often costs less than $200 a year.
Watch Your Maximum Out of Pocket – How much are you comfortable paying if something bad happens? Choose your home and auto insurance deductibles with that in mind. Larger deductibles reduce your monthly insurance costs.
Compare Insurance Prices – Because you’ll drive differently, and won’t be working any longer, your underwriting profile changes. Your current insurance company may still be the best value. Or maybe not. A Maine independent insurance agency like Noyes Hall & Allen can compare prices and coverage among several insurance companies with one phone call.
Keep Maintaining Your Property – Regular maintenance helps you budget your expenses and maximize your insurance options real estate value. If you want to change insurers, your new insurance company will inspect your home. Even if you don’t change companies, your insurer may inspect from time to time. If they find something that they’re concerned about, they will require you to repair it. It’s better to keep up with repairs and maintenance on your own timetable.
Choose Contractors Wisely – Hire reputable and trustworthy people to work in and on your property. Ask them for proof of insurance. If they hurt someone or damage their property, or injure themselves, they should be responsible – not you. When hiring cleaning people, home health care or similar service providers, ask if they are bonded. Bonding protects you against theft by someone you’ve let into your home.
Want a Pre-Retirement Insurance Review?
If you’re thinking about retirement in southern Maine, call a Noyes Hall & Allen Insurance agent in South Portland at 207-799-5541. Or, get several insurance quotes online from our website. We can help you check your current insurance, and let you know if it’s the best value. We can also give you cost-effective advice to customize your insurance to your exciting new life. If you’re moving to Maine in retirement, and looking for a new insurance agent, we’re happy to help. We offer a choice of several of Maine’s top insurers and can do the comparing for you. We can even introduce you to some wonderful local realtors and financial planners.
Either way, you’ll know that your insurance is solid and the cost is reasonable as you head into retirement. At Noyes Hall & Allen, we’re independent and committed to you.