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What type of insurance do you need?
Business insurance (also called “commercial insurance”) is designed to safeguard your company against financial losses related to the various hazards it may face.
Potential risks include such things as severe weather events, property crimes, and liability lawsuits. Business insurance coverage can prove quite beneficial as is evidenced by the fact that companies in Maine collected more than $1.2 billion in insurance claims in 2019 alone.
A local independent agent can help you build a comprehensive business insurance plan that is designed to meet the specific coverage needs of your company.
Experts estimate that 40% of all small businesses are likely to be named in a property damage or general liability lawsuit in the next 10 years. Liability lawsuits can be quite expensive. For example, a typical customer slip and fall injury costs businesses about $20,000. That is one of the reasons that commercial liability insurance is so important.
But liability lawsuits aren’t the only risk faced by businesses. The following is a list of some of the other common hazards American companies have used their business insurance policies to cover against in recent years:
Business insurance is designed to cover against a variety of hazards that could potentially impact your business finances. That way, your company can remain profitable, even when disaster strikes.
If your inventory is damaged, if a customer files a liability lawsuit, or if one of your employees is severely injured on the job, a comprehensive business insurance plan can ensure that won't have to worry about how these expenses will affect your business’s bottom line.
Here are some of the ways a well-built business insurance policy package can safeguard your company:
In addition to the coverage mentioned above, there are many more commercial policies available that you can add to your business insurance coverage package. You can therefore build a policy portfolio that is fully customized to meet each of your company’s specific exposures.How does business insurance work?
A stand-alone business insurance policy is not required by law in Maine. However, some types of commercial insurance that are often included in most company’s business insurance policy packages may be necessary. For example:
To learn more about coverage that you may have to have for your business, you can talk with a local independent insurance agent.
Business insurance rates are calculated according to several different factors including but not limited to:
A solid business insurance policy package will include several different kinds of policies. Sometimes the way to get the best price for coverage is by having a few different insurance companies providing the policies in your commercial coverage portfolio.
Don’t worry. When you get your coverage through an independent insurance agent, you will still have only one point of contact for all of your insurance coverage questions and needs.
Yes! There are currently 165 independent insurance agencies in Maine. These experienced agents are available to help you with all of your business insurance coverage needs.
Did you know that independent insurance agents can work with several different insurance providers to help you build a comprehensive and competitively priced business insurance portfolio?
Contact an independent agent near you to ensure that your business is fully covered against all of its various exposures.
Number of businesses in the US: 27,626,360
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
|City||No. businesses||Burglaries / 1,000 people||Auto thefts / 1,000 cars|