Portland, ME, has a deep history in all things fishing and agriculture. This town is known for its commerce and tourism. With a local population of over 66,882, it's a great place to lay down roots.
When you're one of the 147,270 small businesses in Maine, you'll need coverage. An independent insurance agent can help you find a policy for a low price. Connect with an adviser to get started today.
How to Insure Your Portland, ME, Commercial Property
Your commercial insurance is essential to having a claim covered. Most commercial property policies will only insure your building up to 80%. That means you'll be responsible for the first 20% of a loss. Speak with an adviser on the following items concerning your building:
- Year built and structural makeup
- Operations that occupy the property
- Market value and replacement cost
- Protective devices in place
- Total square footage
- Prior property claims
Some common occurrences in Portland, ME are listed below:
- Severe storms and lightning damage
- Flooding and water damage
- Hurricanes and tropical storms
- Heavy snow
- Burglary and other property crimes
Flood insurance — a separate policy you may not have
Flood insurance is a separate policy that your commercial property should have. It will protect your building and finances when a flood damage loss occurs. To have adequate coverage, check with a Portland independent agent for quotes.
Is Workers' Compensation Insurance Mandatory in Portland, ME?
Workers' compensation insurance is mandatory in Maine. You'll need a policy that meets state guidelines and protects your exposure. A professional agent can help sort through laws and regulations, so you're getting the right coverage.
When you have an employee who has been injured or ill on the job, you'll want this policy. It will help pay for medical expenses and lost wages so you don't have to pay out of pocket. Connect with a Portland independent agent for more information.
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Liability Insurance in Portland, ME — Is Your Business Protected?
In Maine, there have been $1,217,021,000 in claims paid in 2019 alone. To protect your American Dream, you'll need coverage for all kinds of exposures. If a loss occurs, you could be out thousands of dollars without proper insurance. Talk with an independent agent to go over the following liability policies:
General liability insurance: A GL policy will protect your assets and finances when a lawsuit is brought against your company. This could be from bodily injury or property damage. To have the right limits, connect with a local agent.
Cyber liability insurance: Most businesses today use the internet in some form or fashion. This will create exposure to sensitive information being stolen. To protect your company from a lawsuit when a cyberattack steals client or employee data, get a cyber liability policy. Connect with an independent agent for quotes.
Business interruption insurance: Business interruption insurance will pay for your expenses when a catastrophe or loss closes your doors. It can last for 12 to 24 months, keeping you in business. Speak with an independent agent about adding this to your GL policy.
Employee Benefits Coverage — How to Add Value and Retain Staff
There are 289,156 people in Maine employed by small businesses. When you need to add value to keep current staff and attract new, you'll want employee benefits. If you offer employee benefits, it will help pay for health insurance and more. Contact a local independent agent to create a plan that works for your company.
Why Working with a Portland, ME, Independent Agent Saves You Money
Your company will need protection from a variety of exposures. When you try and DIY your coverage, you could be missing out. To use an independent insurance agent costs your business nothing and is a big help.
An independent agent works on your behalf to find the best coverage and rates in town. They have access to several carriers, giving you options. Connect with a local adviser on TrustedChoice.com to start saving today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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