Maine Business Insurance

Customized protection for your Maine business

Maine business owners should consider several types of business insurance to protect against a variety of common claims, from a customer slipping and falling on a shop floor to an employee becoming injured on the job.

Over 99.2% of Maine businesses are classified as small businesses, and the U.S. Small Business Administration (SBA) reports that they employ 291,387 people statewide. Maine state law requires these employees to be protected under a workers’ compensation policy provided by their employer.

Getting the coverages that fit your business is simple with the Progressive Advantage® Business Program. Our insurance experts can help you choose from a variety of business insurance options and customize them to your needs and budget.

Types of ME business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Maine should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Nearly all businesses in Maine are required to have workers’ comp insurance if they have employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Maine businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Maine?

The cost of business insurance in Maine is determined by a variety of factors, including your business’s size and location. For example, a business located in Portland can expect a different cost than a business located in Bangor.

One of the most important factors is the type of work your business does. For example, a landscaper can expect a lower insurance rate than a tree trimmer because their work is typically done at ground level, which exposes them to less risk. Higher risk professions, like tree trimmers and general contractors, require a special insurance called excess and surplus (E&S) insurance, which usually costs more.

Maine business insurance requirements

Workers’ compensation is the only type of business insurance required by law in Maine. However, you’ll want to consider other coverages, like general liability, to protect against the exposures most common in your profession. Keep in mind, your prospective clients and employers might have their own insurance requirements in addition to what’s mandatory by law.

Almost all businesses are required to carry workers’ compensation if they have employees, according to Maine’s Department of Professional & Financial Regulation. Employers of domestic workers in private homes and certain agricultural workers are exempt from this requirement. View Maine's workers' compensation guide to learn more about what’s required for your specific situation.

Resources for Maine small business owners:

Maine professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

  1. Options

  2. Experts

  3. Convenience

Business insurance for all Maine cities

We can customize business insurance in all Maine cities, including, but not limited to:

  • Portland
  • Lewiston
  • Bangor
  • South Portland
  • Auburn
  • Biddeford
  • Sanford
  • Saco
  • Westbrook
  • Augusta

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Man with Maine business insurance works in a commercial van

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