No matter the niche, any business in Auburn, Maine has a better chance of surviving long-term with the proper protection against disasters. That means having solid business insurance.
More than 147,270 small businesses can be found throughout the state of Maine. An independent insurance agent in Auburn can help your unique company get the protection it deserves, no matter its niche. But first, here's a closer look at business insurance in Auburn, ME.
How Much Does Business Insurance Cost in Auburn, ME?
Your business insurance policy's premiums will be based on several factors, including your company's specific risks and:
- Coverages needed
- Annual revenue
- Employee payroll
- Exact location
Without knowing more details about your business, it's difficult to estimate a price for the insurance it needs. But an independent insurance agent in Auburn, ME can provide several quotes for business insurance coverage in your town.
Is Business Insurance Required in Auburn, ME?
Businesses with at least one employee must have workers' compensation coverage in Auburn, ME. This is the only type of business insurance required by law, and there are very few exceptions to the state's law. Workers' comp helps protect a business's employees against incidents on the job that result in injury, illness, or death.
Employees are also protected against related disasters that result from the job site or their duties, even if they're not on the premises. In turn, employees are restricted from filing lawsuits against the business for these incidents if workers' comp covers them. An independent insurance agent in Auburn, ME can get your business equipped with all the workers' comp it needs.
What Does Business Insurance Cover in Auburn, ME?
Without knowing your specific company, it's impossible to know every coverage it'll require to stay protected. However, a basic business insurance policy often starts with:
- Employment practices liability insurance: Employee claims of wrongful termination, discrimination, harassment, etc., against the business are covered by this insurance.
- Cyber liability insurance: Data breaches, phishing incidents, etc., that can steal or expose sensitive information like payment details and personal records are covered by this insurance.
- Commercial auto insurance: Accidents and other incidents that can impact company vehicles are covered by this insurance.
- General liability insurance: Customer and other third-party claims of bodily injury or property damage against the business are covered.
- Pollution liability insurance: Claims of environmental pollution and associated cleanup fees are covered by this insurance.
- Premises liability insurance: Customer and other third-party claims of injury or property damage on the business's premises are covered by this insurance.
After explaining your business's unique operations, etc., to your Auburn, ME independent insurance agent, they'll help you assemble the policy that works best for you.
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What Does Small Business Liability Insurance Cover in Auburn, ME?
Small business liability insurance protects companies in Auburn, ME against lawsuits filed by guests, customers, delivery workers, and other third parties against the business. Claims can be for bodily injury or property damage at the hands of the business. This coverage can reimburse for an attorney, court, and other costs associated with the lawsuit.
Without this coverage, a small business could face bankruptcy after just one lawsuit. Having coverage can guard your company against unexpected financial ruin. Talk with an independent insurance agent in Auburn, ME today about getting equipped with small business liability insurance to help protect your company.
Are There Any Small Business Health Insurance Plans in Auburn, ME?
Yes, there are several small business health insurance plans available in Auburn, ME. While these plans already offer more affordable coverage for your team, your business might also qualify for tax credits if:
- You have 25 or fewer full-time employees
- You contribute at least 50% toward employee premiums
- You offer annual employee salaries of less than $50,000
The Patient Protection and Affordable Care Act offers these tax credits, which can cover up to 50% of the plan's premiums. Your Auburn, ME independent insurance agent can help you determine if your business qualifies for extra assistance with small business health insurance plan costs.
What Are the Best Small Business Insurance Companies in Auburn, ME?
Don't waste time browsing endless lists of small business insurance companies. Start by checking out some of our top picks for business insurance in Auburn, ME instead.
|Best Small Business Insurance Companies in Auburn, ME||Star Rating|
Why Work with an Independent Insurance Agent in Auburn, ME?
There's no such thing as a one-size-fits-all business insurance policy. With a wide variety of products and options at your disposal, you can put together a solid business insurance package that's custom-built for your company.
Independent insurance agents can help you choose the right policies and options to meet your company’s specific coverage needs. Because they're independent, these agents can work with several of the best business insurance companies in Maine to find you the right coverage at a great price.
TrustedChoice.com Article | Reviewed by Paul Martin
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