How to Insure A Maine Home Owned by a Trust

Many home owners in Maine transfer some of their property to a living or  family trust.  Trusts can be a useful estate planning tool. Once they were used only by the wealthy. Today, people of all financial means place property in trusts.

Trusts are legal documents. Your attorney can explain if a trust is a good solution for you. They can also help you establish a trust.

Insuring Property in a Trust

How can you insure real estate owned by a trust? It depends on the use of the property. Is it your primary home? A vacation home? Does someone who’s not a trustee live in the home? Is the property owned by a family trust, and used by several relatives?

Each insurer has different requirements for trust-owned property. An experienced insurance agent can help you find the right insurance solution. Independent insurance agents offer a choice of several insurance companies.

Some insurance companies use special policy endorsements for trusts. Others simply add trusts as an “additional insured” on the policy.

Are you living in a trust-owned property in Southern Maine? Are you a trustee? If so, contact Noyes Hall & Allen Insurance in South Portland at 207-799-5541. We offer a choice of Maine’s preferred property insurance companies. We’re independent and committed to you.

Does Commercial Insurance Cover Portable Business Equipment?

Commercial insurance protects a company or business owner from losses to buildings or equipment necessary for the operations. However, many Maine businesses rely on portable equipment to operate. So, does commercial coverage offer protection for essential portable equipment when it’s off the premises?

Coverage for Portable Equipment

Commercial insurance covers equipment, inventory and supplies located on the premises of the covered location. However, this may not extend to things that leave the premises. If you bring property to job sites or customer locations, portable equipment insurance may be necessary to prevent gaps and losses.

Portable equipment coverage is sometimes called an Inland Marine Floater. This coverage will protect electronic equipment and other contractor related items required to perform daily work-related tasks. Before selecting additional insurance, speak with an agent about current and future needs, and find out what options are currently available to get a complete layer of protection.

Protect Your Equipment on Job Sites

Considering a purchase of portable equipment for your business? Talk to an agent from an insurance company who can outline what steps are necessary to get comprehensive coverage. Although some protection may be offered by standard commercial insurance, navigating portable insurance coverage may be necessary.

If your business is located in Southern Maine,  contact Noyes Hall & Allen Insurance in South Portland at 207-799-5541. We offer straightforward solutions from some of Maine’s top business insurance companies. That allows you to choose insurance that matches your business needs and provide you with peace of mind.

Getting the right combination of insurance to cover a business can be tricky. Don’t risk gaps and issues that could spell disaster. Consult with an agent from Noyes Hall & Allen Insurance to get the coverage necessary to protect a business in Portland, ME and throughout the state.

What Structures Besides the Home Does Homeowners Insurance Cover?

Your home insurance covers far more than the home itself and its contents. If you read your homeowners policy from Noyes Hall & Allen Insurance of Portland, ME carefully, you’ll spot a section called “other structures.”

What are other structures?

Other structures refer to any buildings on your property that are not directly attached to the home. Those include fences, sheds, detached garages, workshops, etc. It also includes your backyard gazebo, and the pool house, if you are fortunate to have a pool.

Similar to the policy section that covers your home’s contents, the other structures section describes your coverage and its limits. Your other structures will be covered for a percentage of the replacement value of your home. It is typically ten percent of the value. That is not per structure, but for all other structures as a whole.

That means if your insured home value is $300,000 and your other structures coverage provides ten percent coverage, you have $30,000 of coverage for your workshop, fences, detached garage, and other buildings.

Other structures coverage is automatically included, whether or not you have any outbuildings. That’s so that you don’t have to call your insurance agent if you add a shed or build a small detached garage. “Other Structures” can’t be removed from a homeowners policy, and there’s no additional charge for the coverage.

Also, you are covered for the same perils as named in your home’s coverage. If your house has coverage for wind or hurricane damage, so do your other structures.

Call us at Noyes Hall & Allen Insurance in South Portland, ME at 207-799-5541 to learn more about other structures insurance. You can add to your coverage so your workshop or fences are fully insured.

Commercial Insurance to Protect Your Small Business

Small business owners are the heart of the American economy. Maybe you are not big enough to be listed on the Dow Jones Index, but your enterprise is what drives Main Street in towns across Maine. However, you should not get complacent. Small businesses are susceptible to lawsuits, workers compensation claims and other situations that they cannot handle as readily as large corporations. It is imperative that you have protection for these times.

To keep your business safe in times of adversity, you should consider comprehensive commercial insurance. Contact us at Noyes Hall & Allen Insurance to speak with one of our agents today.

Following are examples of commercial insurance that many small businesses in the Portland, ME region find beneficial, along with some factors used to decide which, and how much, insurance to purchase.

Liability

These policies can protect you when held liable for harm done to another.

A customer or supplier who comes into contact with your business may get injured or sick for example. You will then need funds to take care of medical bills or legal fees. Liability policies can help defray certain of these costs.

Commercial Auto

If your business uses vehicles to transport things or people, then you will probably need some commercial auto insurance.

It is best not to rely on your personal auto insurance, even if you do use your everyday car for these purposes. Commercial auto insurance policies usually cover situations that your personal auto insurance will not.

Errors and Omissions

It is imperative that professionals, such as lawyers, accountants, and others who work independently, have error and omissions insurance. These policies help individuals who provide services and dispense advice when they are charged with negligence.

As you never know when a client may be dissatisfied with your work, it is best to have adequate errors and omissions insurance in place at all times.

Factors to Consider Before Choosing a Policy:

  • Annual revenue

  • Location

  • Number of employees

  • Rent

Get More Information Today

Contact Noyes Hall & Allen Insurance today to learn more about specific commercial insurance policies in the Portland, ME area and beyond.

What Maine Small Business Owners Need to Know About Insurance

Running your small Portland, ME business can be a rewarding and satisfying endeavor. However, without the right liability insurance coverage, running your small business open you up to lawsuits. Here is a brief description from Noyes Hall & Allen Insurance of the most common business liability insurance.

Worker’s Comp

Worker’s compensation insurance is required in Maine for any business with employees. As a business owner, you need to stay up to date on your state’s requirements concerning worker’s compensation insurance. Worker’s compensation insurance protects your employees when they are injured on the job. This also protects you as the employer from liability for said injuries.

Liability Insurance

General liability is one of the most important types of insurance for the small business owner to have. Liability can come in many forms. Individuals can get injured on your property or by your product. Something could go wrong with a service you provided resulting in damage or injury. Liability insurance will protect you in these situations and ensure that your company is not required to pay out of pocket for these types of liability claims.

Commercial Auto

If your company owns vehicles in order to provide services or deliveries, then you need business auto insurance. Commercial vehicle insurance can cover your drivers and your vehicles in the event of an accident. If your company uses vehicles, then you will no doubt have invested a good deal of money into those vehicles. This will protect that investment.

Umbrella Insurance

Commercial umbrella insurance policies help small business cover all their bases in one simple policy. Umbrella policies provide high limits of liabilty over your general liability and business auto policies. To learn more about small businesses, contact our friendly staff at Noyes Hall & Allen Insurance serving Portland, ME at 207-799-5541. We offer a choice of Maine’s best business insurance companies, so we can help you find the best value. We’re independent and committed to you.

What Should You Do If Your Car is Stolen?

No one wants to wake up or walk out to a parking lot after shopping and discover their car has been stolen. Unfortunately, this is a situation hundreds of thousands of people find themselves in each year. If your car has been stolen, you may find yourself wondering what to do, or what order to do things in. Here is some information from Noyes Hall & Allen Insurance, serving the greater Portland, ME area. 

File a Police Report

After your car has been stolen, the first thing you will want to do is file a police report. This ensures your vehicle is listed as stolen, which may help the police to locate it faster. It also helps to protect you in case the individuals who took your car causes damage to other vehicles or property with your car. 

Contact Your Insurance Company

Once your car has been reported stolen with the police, you will want to contact your insurance company. Let them know that your vehicle has been reported stolen to the property authorities, and if you have it, provide them with the police or case number. The insurance company requires you to wait a period of time before they will pay out on a stolen car claim, so starting the clock as soon as possible is essential. 

Unfortunately, not every insurance policy covers your car if it is stolen. If you are looking to learn more about auto insurance, find out what coverage you have, or increase your coverage in the greater Portland, ME area, let Noyes Hall & Allen Insurance help you. Contact us today to schedule an appointment to discuss your auto insurance coverage. 

Is Commercial Auto Insurance Right for Your Small Business?

Even if you just started up your small business in the Portland, ME area, it is a good idea to sit down with one of our friendly agents at Noyes Hall & Allen Insurance to make sure you have the coverage you need. Maybe you are using your personal van, truck, or SUV to save on capital expenditures. If so, your personal auto insurance might not fully protect you or your business. You may need  commercial auto insurance.

Making Deliveries in Your Own Vehicle?

If you are delivering goods to clients in your vehicle and cause an accident, an injured party may go after your personal assets as well as your business. A commercial auto insurance policy would provide the liability protection your growing business needs to stay afloat.

Sending Someone for Business Errands

Do you ever send someone to get supplies, tools, or even lunch, using their own vehicle?  That’s a business use. Your business can be sued for any injuries or damage they cause. Of course, if you have employees, you need to purchase workers compensation insurance to pay their medical bills and lost time.

Driving the Crew to a Job

When you are the boss and are offering transportation in your SUV to your workers, it becomes a business vehicle. Make sure that you carry sufficient coverage for liability and medical expenses if something goes wrong.

When starting a business, it’s important to control expenses. But improper insurance takes big chances with your personal investment. By purchasing the right commercial liability, auto, and workers compensation insurance, you allow your Portland, ME business to grow instead of being bankrupted by a lawsuit or other disaster.

Give our agents a call at Noyes Hall & Allen Insurance for more tips and the right coverage today.

Why Maine is a Great Place to do Business

Are you thinking about opening a business in Maine?

If so, you should consider doing so in Portland, ME. This city stands out as a location where entrepreneurs have access to all the resources they need to find success with their new business. In fact, Portland has been ranked as the ninth best location for women entrepreneurs and number five for starting a business overall. If you are starting a business, you need to protect it with proper commercial insurance coverage with the help of Noyes Hall & Allen Insurance.

Keep reading to find more reasons why Greater Portland is such a great place to start a business.

Maine Has Great Support Network for Entrepreneurs

The history of underemployment in Maine has helped to spark several institutions that are designed to support and fund entrepreneurs. For example, The Maine Venture Fund, which was established in 1995 has currently received more than $13 million to provide startup companies. Maine Center for Economic Development, Startup Maine, Top Gun, Greenlight Maine and other resources help startup business owners to network and learn. Several Portland coworking spaces offer work and meeting rooms, including Think Tank, Cloudport, Engine Room and Peloton Labs.

Integration of  Maine Values into Business 

Another reason that Maine is such a great place to do business is the fact that this is a location where values are at the forefront of business ideas. For example, a recently opened company, American Roots, sells ethically sourced, fleece clothing made in Maine. The state is brimming with young values-based companies including GrandyOats, Heritage Seaweed and Flowfold.

As you can see, the Portland Maine area is a great place to open a business. Before you take the leap, be sure you have the proper protection for your business. The best way to do this is by purchasing a robust insurance policy from a quality insurer. Contact Noyes Hall & Allen Insurance today. We offer a choice of Maine’s preferred business insurance companies. We’re independent and committed to you.

 

What to do if You Have an Accident

Car crashes can be a devastating event, leaving you feeling shocked and confused. Having the right information before you ever have an accident can give a better grip on the situation. The Noyes Hall & Allen Insurance in South Portland, ME have experts that can provide you with information about auto insurance and what to do if you have an accident.

Assess Any Injuries

When you are first struck by another vehicle, you may feel a little disoriented. If the accident is a minor fender bender and you have neck or back pain, it is crucial that you don’t move until you are seen by a registered EMT or paramedic. You can cause further injury if you delay medical treatment. Check to make sure that your passengers are also uninjured.

Move Over Safely

If it is at all possible, move your vehicle to a safe location out of the way of moving traffic. If your car is too damaged, turn on your hazard lights and then call 911. If you are not injured, safely look at the damage to your car and the other vehicles involved. Many people take photos of the damage with their cellphones. This can be helpful in the claim process.

Get Information from Others

Gather your insurance card and driver’s license. Get the same information from the other drivers involved as well as their license plate numbers and type of vehicles. Try to do this before the police come, if it’s safe to do so. Although the police will gather this info and create a police report, these can take days to be available. It is essential to document everything you can. Over time, your memory from a traumatic event is less reliable than photos.

Have Enough Auto Insurance

Before you are ever in an auto accident, make sure your insurance is up to date. In Portland, ME, the professionals at Noyes Hall & Allen Insurance can help you stay safe with the right kind of coverage for your vehicle. Contact us to get a quote.

Commercial Insurance for Maine Small Business

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.