Maine Business Insurance FAQ - Quick Answers

When it comes to your small business insurance premiums, yours will be unique due to varying risk factors. Here are some items carriers look at when rating your costs:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

In Maine, your small business insurance policies will be optional with the exception of a few. Workers' compensation is required with just one employee, and business auto coverage is mandatory according to state minimum limits. To avoid issues, you'll want to make sure you're covered. 

Your Maine commercial insurance will be unique and tailored to your operation. However, your coverages will fall under primary policies like the ones listed below:

Small business liability insurance comes in many forms for your Maine operation. Here are some liability policy options that could apply to your business:

  • General liability insurance: Pays for a bodily injury or property damage liability lawsuit brought against your operation
  • Professional liability insurance: Pays for a lawsuit against your business due to negligent or harmful advice
  • Commercial umbrella insurance: Provides an additional limit of liability coverage over your underlying business policies

When you're a small business, offering health coverage can be a challenge. In Maine, you're only required to have health insurance for your team at 50 employees or more. Quotes for health insurance coverage can be obtained through private carriers.

There are several carriers you can obtain small business insurance through. In Maine, Nationwide, Hanover, and Travelers are among the best options. This is due to their excellent customer service and broad coverage selection.

Do You Know What Your Business Insurance Covers in Maine?

Find the Best Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. of businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Auburn1,8142.410.43
Augusta1,9673.170.48
Bangor3,30220.88
Bath1,1470.960.24
Biddeford2,0602.460.65
Brewer8851.220.56
Caribou7602.521.33
Lewiston2,4413.41.09
Portland10,0282.721.11
Presque Isle1,1164.711.35
Saco1,7062.311.01
Sanford< 255.130.61
South Portland3,6251.520.74
Waterville1,2261.970.66
Westbrook1,6882.870.84
  • Portland, ME 
  • Business Insurance Common Coverage Options
  • Property: Portland sees its fair share of inclement weather. Occasionally this city is hit by damaging hailstorms. One of the worst to hit Maine was in nearby Sanford, where a car dealership had hundreds of new cars damaged by golf-ball-sized hail. Hailstorms are just one of many ways that business property can be damaged. 
  • Commercial auto: Even the best drivers sometimes cause collisions. This is particularly true in the winter when roads in Portland can be slick and hazardous. If your business owns a vehicle or fleet of vehicles, you will be required to carry commercial auto insurance. Rates for these policies can vary according to the number and types of vehicles you are covering, as well as the risk of collisions and vehicle theft where your employees will be driving. 
  • Workers’ compensation
  • Workers’ compensation insurance covers medical expenses and disability pay for employees who are injured on the job. In addition to protecting your employees, it can also shield your company from liability lawsuits related to these workplace injuries. In Maine, nearly all businesses with at least one employee are required by law to have this insurance. Rates for coverage can vary significantly from one business to the next, depending on the types of jobs your employees do and your company’s overall payroll.


  • Lewiston, ME 
  • Business Insurance Common Coverage Options
  • Property: It is important that you fully insure your business property so that if a major disaster like a fire causes complete destruction of all your company assets, you will have sufficient funds to rebuild and replace quickly. That way, you can soon resume normal business operations without suffering large financial losses. 
  • Commercial auto: Many businesses in Lewiston have company-owned vehicles. If your company owns cars, vans, buses, or trucks, you will need to insure them with a commercial auto insurance policy. Doing so can prevent your business from facing large financial losses if one of your drivers causes a serious accident. 
  • Workers’ compensation
  • Workers’ compensation insurance covers medical bills, disability pay, and other related expenses for workers who are injured while doing their jobs. With few exceptions, it is required of all businesses in Maine that have at least one employee. This insurance protects your employees from financial losses related to work injuries and can also prevent your company from facing expensive lawsuits. Rates for this coverage are assigned according to your company’s overall payroll amount and the types of jobs your workers do.


  • Bangor, ME 
  • Business Insurance Common Coverage Options
  • Property: As a business owner, you have probably invested a lot in your company’s assets, including computers, furniture, tools, and supplies. Business property insurance can help cover the cost of repairing or replacing this property if it is lost or damaged due to a covered event like a blizzard or a windstorm. 
  • Commercial auto: If your business owns a vehicle or a fleet of vehicles, your company needs the added liability coverage that comes with this required insurance. Your rates will be based on several factors, including the number and types of vehicles you are covering, the risk details about the employees who will be driving them, and the collision rate in your city and the other places where these vehicles are likely to be driven.
  • Workers’ compensation
  • Workers’ compensation insurance can pay for medical bills and lost wages if your workers suffer an occupational illness or are injured on the job. Rates are based on your company’s overall payroll and the potential risks faced by your employees according to their individual job classifications. This insurance is required for nearly all businesses in Maine that have at least one employee.


  • Auburn, ME 
  • Business Insurance Common Coverage Options
  • Property: Your company’s commercial property insurance can cover damage caused by a number of severe weather events, including severe storms. However, this insurance will not cover against the flood damage that often accompanies torrential downpours. 
  • Commercial auto: Whether you are insuring a delivery van or a fleet of construction vehicles, commercial auto insurance can protect your company against losses related to liability risks and property damage. 
  • Workers’ compensation
  • In Maine, workers’ compensation insurance is required by law if your business employs at least one worker. This insurance not only protects your employees from financial losses related to workplace injuries and occupational illnesses, it can also shield your business from potential liability lawsuits related to these injuries.


  • Biddeford, ME 
  • Business Insurance Common Coverage Options
  • Property: While the property crime rate in Biddeford is lower than the national average, it is among the highest in the state. With more than 500 thefts reported in one recent year, it is important that local businesses protect themselves against crime-related losses. A well-built business insurance policy package can cover losses caused by shoplifting, cybercrime, and employee theft as well as the other risks you face as a business owner in this city. 
  • Commercial auto: Commercial auto insurance can protect your business from facing unmanageable liability costs if one of your drivers causes an accident while operating a company-owned vehicle. Rates can be influenced by driving records of the employees who will be operating the vehicles and by the types of vehicles you are covering. Vans and buses used to transport people have high liability risks, as do heavy trucks and vehicles that carry hazardous materials. 
  • Workers’ compensation
  • Workers’ compensation insurance is designed to cover the cost of medical treatment, lost wages, and other expenses related to injuries your employees may suffer while doing their jobs. It is required for almost all businesses that employ at least one person in Maine. Workers' compensation rates are assigned according to your company’s overall payroll, the types of jobs your employees do, and the likelihood that they will be injured while doing them.