Business Insurance in Augusta, ME

More than $1.2 billion was paid out in commercial insurance claims across the state of Maine in one recent year. Fortunately for the businesses that had to file claims, their business insurance helped them recover financially from property damage, lawsuits, and more. The right policy can help your business do the same.

The estimated 147,270 small businesses in Maine can all use business insurance to their advantage. An independent insurance agent in Augusta can help you get the protection it deserves from many different threats. But for starters, here's a breakdown of business insurance specifics in Augusta.

How Much Does Business Insurance Cost in Augusta, ME?

The cost of your business insurance depends on many specific factors about your unique company, like its:

• Size and exact location
• Exposures and operations
• Insurance coverage needs
• Annual revenue and employee payroll
• Number of employees

While it can be difficult to estimate your business insurance premiums without knowing more specifics about your company, an independent insurance agent in Augusta can provide you with several quotes. 

Is Business Insurance Required in Augusta, ME? 

With limited exceptions, most all businesses in Maine that have at least one employee must carry workers' compensation, which is one aspect of business insurance. Workers' comp can protect businesses financially from incidents of employee injury, illness, or death caused by their job. Also, this coverage protects the business against lawsuits filed by their employees or the families of their employees for related incidents.

What Does Business Insurance Cover in Augusta, ME? 

The needs of your specific business will influence which coverages need to be purchased to make up your business insurance policy.

Many businesses in Augusta choose at least a few of the following coverages:

• General liability insurance: Reimburses your business for legal fees after third-party claims of bodily injury or property damage.
• Employment practices liability insurance: Reimburses your business after employee claims of discrimination, workplace harassment, etc.
• Pollution liability insurance: Reimburses your business for legal fees and cleanup costs after third-party claims of environmental pollution.
• Commercial auto insurance: Reimburses your business after collisions and other incidents that may damage company vehicles or result in lawsuits.
• Cyber liability insurance: Reimburses your business for incidents of data theft, exposure, etc., that occur from cybercrimes like phishing, data breaches, etc.
• Premises liability insurance: Reimburses your business after third-party claims of bodily injury or property damage on the company premises.

Your independent insurance agent in Augusta can help you build a business insurance policy that best addresses all of your company's exposures.

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What Does Small Business Liability Insurance Cover in Augusta, ME?

No matter how safely your business operates, it can still face third-party lawsuits at any time. Small business liability insurance can help your business get the reimbursement it needs after a lawsuit, including for attorney, court, and settlement costs. Without this coverage, a business may not be able to financially recover after an especially expensive lawsuit.

Are There Any Small Business Health Insurance Plans in Augusta, ME?

Small businesses in Augusta with 50 or fewer employees can qualify for health insurance plans and tax credits through the state's Small Business Health Options Program (SHOP). Tax credits are typically offered through SHOP for businesses with fewer than 25 employees. You can apply for a small business health insurance program through SHOP's website, or ask your independent insurance agent to help you find coverage.

What Are the Best Small Business Insurance Companies in Augusta, ME?

This list of just a few of our top picks for quality small business insurance in Augusta, ME can help you streamline the process of finding affordable coverage near you.

Best Small Business Insurance Companies in Augusta, ME	Star Rating
Nationwide
The Andover Companies
Progressive
Liberty Mutual
Travelers

Why Work with an Independent Insurance Agent in Augusta, 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.