Do You Need Commercial Insurance for Your Maine Business?

If you run a business in the state of Maine, whether it’s a small business with no employees or a more significant company with several people working for you, it is a great idea to have a commercial insurance policy in place to protect the investment in your business that you have made. Our agents at Noyes Hall & Allen Insurance, serving the Portland, ME area, are here to help you with all your business insurance needs.

What is Commercial Insurance?

Commercial insurance is a type of business insurance that is extremely important for you as a business owner to help protect your assets, customers, employees, and even your financial stability.

Is Commercial Insurance Required in Maine?

All drivers in Maine must have at least an auto liability insurance policy to be able to drive legally. For businesses in Maine, you must have a commercial auto liability policy in place for any vehicles owned by your company or personal vehicles that someone is driving for your business.

 Also, if you have at least one employee at your business, you are required by the state of Maine to have worker’s compensation insurance. This type of insurance will help pay your employees’ medical bills and other expenses if they are hurt on the job.

Professional Liability Insurance

It is essential for you to have professional liability insurance under your commercial insurance policy, especially if you have a service-based business. This type of policy can help protect you against malpractice, negligence, or inadequate performance claims. This will also help you out if a customer is injured while visiting your business and can help you pay legal bills if you are accused of slander, liability, or copyright infringement.

Business Property Insurance

Business property insurance is also imperative for you to include in your commercial insurance policy. This is because it will help you out tremendously if the building you own or equipment, inventory, and furniture is damaged or destroyed by a fire, natural disaster, vandalism, or even theft.

Contact Noyes Hall & Allen Insurance

To get your commercial insurance policy started immediately, contact our agents at Noyes Hall & Allen Insurance, serving the Portland, ME area, today!