Seal the Deal: Buying Business Insurance Made Easy

Protect Your Business from the Unexpected

To buy business insurance in Maine, follow these 4 key steps:

1. Assess your business risks specific to your industry and location
2. Determine which types of coverage you need (general liability, professional liability, property, etc.)
3. Find a reputable local insurance agent who understands Maine's business landscape
4. Compare quotes and coverage options before making your final decision

Running a small business in Maine comes with unique challenges and risks. From winter storms that can damage your property in Wells to slip-and-fall accidents at your Kennebunk retail shop, the unexpected can happen at any time.

Buy business insurance that's custom to your specific needs to protect everything you've worked so hard to build.

"Risking what you've built is not an option," as many insurance professionals emphasize. For Maine business owners, having the right insurance coverage isn't just a smart business move—it's essential for your financial security and peace of mind.

The average cost of small business insurance is about $85 per month or $1,019 per year, though prices vary widely depending on your industry, location, and specific risks. In Maine's coastal communities like Ogunquit, certain coverages might be more important than for businesses in inland areas like Biddeford.

Whether you're a sole proprietor or have several employees, business insurance helps protect against property damage, liability claims, and other unexpected events that could otherwise be financially devastating.

Understanding Business Insurance

Before you start shopping for coverage, let's take a moment to understand what business insurance really is and why it matters for your Maine business.

What is Business Insurance?

Business insurance is essentially your company's financial safety net. It protects you when the unexpected happens—and in business, the unexpected always happens eventually.

Think of it as similar to the insurance you have for your home or car, but designed specifically for the unique risks businesses face. It covers financial losses that might occur during normal business operations, from property damage to liability claims.

For Maine business owners, whether you're running a seaside restaurant in Wells or a retail shop in Biddeford, having the right coverage means you can focus on growing your business instead of worrying about what might go wrong.

When winter storms roll in off the Atlantic or summer tourists flood your store, your business insurance stands ready to protect what you've built.

Why is Business Insurance Important for Small Businesses?

Small businesses often feel the impact of unexpected events more deeply than larger companies. With tighter budgets and fewer resources, a single unfortunate incident could potentially close your doors for good.

Here's why buying business insurance is absolutely essential for Maine small business owners:

Protection against lawsuits can save your business. Imagine a customer slipping on your icy walkway in Kennebunk during a February freeze, or a client claiming your professional advice cost them money. Legal fees alone can be devastating, even if you've done nothing wrong.

Your personal assets stay safe with proper coverage. Many small business owners don't realize that without adequate insurance, their personal savings, home, and other assets could be at risk if something goes wrong. Even with an LLC structure, catastrophic events can sometimes pierce that protection.

Maine law requires certain coverages. If you have employees, workers' compensation insurance isn't optional—it's mandatory. Failing to carry required insurance doesn't just expose you to risk; it could result in penalties and legal headaches.

Business continuity becomes possible after disasters. Insurance helps ensure that a pipe burst flooding your Ogunquit shop or a kitchen fire in your Biddeford restaurant doesn't mean the end of your business dream. The right coverage helps you rebuild and reopen.

Clients and landlords often demand it. Many larger clients won't sign contracts without proof of insurance, and good luck finding commercial space to rent without proper coverage.

The statistics are sobering: about 40% of small businesses will face a property or liability claim in the next decade. After a disaster strikes, FEMA reports that 40% of businesses never reopen their doors, and of those that do manage to return, only 29% are still operating two years later.

Don't let your business become one of these statistics. As Maine business owners often tell us at Sevigney-Lyons, "I never thought it would happen to me"—until it did.

Latest research on small business insurance from the Small Business Administration offers additional guidance on preparing your business for unexpected events.

Why Buying Business Insurance is Essential for Maine Businesses

‍

The charm of running a business in Maine comes with its own unique set of challenges. From the coastal storefronts of Wells that face nor'easters to the busy summer shops in Ogunquit preparing for tourist season, Maine businesses need protection custom to our distinctive environment. That's why buying business insurance isn't just a good idea—it's essential for protecting everything you've worked so hard to build.

Legal Requirements in Maine

Maine has specific insurance requirements that every business owner needs to understand. If you employ even one person at your Kennebunk café or Biddeford retail store, workers' compensation insurance is mandatory under state law. This coverage protects both you and your employees if someone gets injured on the job—like when Mark, a restaurant owner in Wells, had an employee suffer a severe kitchen cut requiring medical attention.

"You know you never think of workers' comp until you pay for it and when that accident happens," Mark told us. "That coverage saved my business from a potentially devastating financial hit."

If your business owns vehicles—whether it's a single delivery van or a fleet of trucks—Maine requires commercial auto insurance with minimum coverage of $50,000 for injury to a single person, $100,000 for multiple injuries in one accident, and $25,000 for property damage. These aren't just suggestions; they're legal requirements.

Many Maine business owners don't realize that unemployment insurance taxes are also mandatory for businesses with employees. And if you're in a specialized field like construction, healthcare, or consulting, your professional license may require specific insurance coverage just to stay in business.

Falling short on these requirements doesn't just mean potential fines—it could mean the suspension of your business operations altogether. That's why working with an insurance agent who truly understands Maine's specific requirements is invaluable.

Protecting Your Maine Business from Risks

Beyond what's legally required, Maine businesses face unique challenges that make insurance protection particularly important. Have you ever wondered what would happen to your business if a blizzard damaged your roof in January or if coastal flooding affected your Wells storefront?

Severe weather events hit Maine businesses hard. From winter blizzards that can collapse roofs to coastal storms that threaten businesses in Wells and Ogunquit, weather-related property damage isn't just possible—it's likely at some point in your business lifetime. Standard insurance might cover some weather events, but many Maine business owners don't realize that flood coverage typically requires a separate policy.

The seasonal nature of many Maine businesses creates another layer of vulnerability. If you run a summer business in Kennebunk or Ogunquit and an unexpected disaster forces you to close during those critical July weeks, the financial impact could be devastating. Business interruption insurance becomes especially important when your income is concentrated in a short seasonal window.

For businesses along our beautiful coastline, the risks multiply. Between flood risks that standard policies don't cover and the higher likelihood of storm damage, coastal businesses often need more comprehensive coverage than their inland counterparts in places like Biddeford.

Maine's robust tourism industry brings wonderful opportunities but also increased liability exposures. Whether you're serving lobster rolls to visitors, renting kayaks for coastal trips, or running a charming bed and breakfast, the more people who interact with your business, the greater your risk of facing a liability claim.

As one local insurance professional puts it: "In Maine, it's not just about having insurance—it's about having the right insurance for our unique environment and business climate."

Want to make sure your Maine business is properly protected? Consider scheduling an insurance checkup to identify any gaps in your current coverage.

How to Buy Business Insurance in Maine: A Step-by-Step Guide

The process of finding the right coverage for your business doesn't have to be overwhelming. When you're ready to buy business insurance in Maine, taking a methodical approach will help you secure the protection your business deserves. Let's walk through this journey together.

Step 1: Assess Your Business Risks

Before purchasing any policy, you need to understand exactly what you're protecting against. Every Maine business faces unique challenges based on location, industry, and operations.

A restaurant in coastal Ogunquit faces different risks than a retail shop in downtown Kennebunk. Your beachfront hotel might need flood protection that a Biddeford manufacturing facility doesn't require. Take time to think about what could go wrong in your specific situation.

Consider the equipment you rely on daily, your inventory value, and even digital assets if you store sensitive customer information. Are you in a historic building that might be costly to repair? Do you have employees who work in potentially hazardous conditions?

"I never thought much about risk until a pipe burst in my Wells gift shop during a January cold snap," shares local business owner Sarah. "The inventory damage was substantial, but thankfully my insurance covered it because I'd taken time to document everything properly."

Make a thorough list of your assets and potential vulnerabilities. This foundation will guide every subsequent decision in your insurance journey.

Step 2: Determine the Types of Insurance You Need

With your risk assessment complete, you can now identify which insurance types make sense for your Maine business.

General liability insurance forms the backbone of most business protection plans. It covers those everyday accidents like a customer slipping on your freshly mopped floor or property damage claims if your employee accidentally damages a client's belongings.

If you provide professional advice or services, professional liability insurance (sometimes called errors and omissions) protects you from claims that your work caused financial harm to clients. This is particularly important for consultants, accountants, architects, and similar professions across Southern Maine.

Maine's harsh winters make commercial property insurance essential for protecting your physical location and contents from fire, certain water damage, and theft. Meanwhile, business interruption coverage can be a lifesaver if a covered event forces your doors to close temporarily—especially critical during the busy summer tourist season in places like Ogunquit.

Don't forget about workers' compensation, which isn't just smart protection—it's required by Maine law for most businesses with employees. And if company vehicles transport your team between Biddeford and Portland job sites, commercial auto insurance is both legally required and practically essential.

The digital age brings new threats, making cyber liability insurance increasingly important for businesses of all sizes. A single data breach could cost your small Maine business thousands in recovery expenses.

Many small businesses find that a Business Owner's Policy (BOP) offers the best value by bundling general liability and property coverage, often at a lower rate than purchasing separately.

Step 3: Find a Reputable Insurance Agent in Maine to Buy Business Insurance

While online quotes are readily available, there's something irreplaceable about working with someone who truly understands Maine's business landscape.

A local independent insurance agent knows why coastal properties in Wells need different coverage than inland businesses in Biddeford. They understand how Maine's weather patterns affect risk and which carriers offer the best rates for your specific industry.

"Working with a local agent who understands Maine businesses makes all the difference," says Chris, a business owner in Kennebunk. "I'm confident that my agent will provide the highest level of service and support among business insurance providers."

Local agents become partners in your business success, offering personalized advice as your company grows. They'll help you adjust coverage when you add locations, purchase new equipment, or expand your services. And perhaps most importantly, they'll advocate for you when claims arise, helping steer what can otherwise be a stressful process.

With offices throughout Southern Maine, including Wells, Ogunquit, Kennebunk, and Biddeford, Sevigney-Lyons Insurance Agency combines deep local knowledge with access to multiple carriers—giving you options without sacrificing personalized service.

Step 4: Compare Quotes and Coverage Options When Buying Business Insurance

Once you've connected with a trusted agent, it's time to review your options. This step involves more than just finding the lowest price.

Focus on understanding what each policy actually covers. Are the liability limits sufficient for your operation's size? What exclusions might leave you vulnerable? Is the deductible manageable if you need to file a claim?

Quality protection often costs a bit more, but the difference becomes clear when you need to file a claim. A policy that saves you $200 annually but leaves critical gaps in coverage isn't a bargain—it's a risk.

Ask these questions as you review your options:

1. What specific risks does this policy cover—and what's excluded?
2. Are the coverage limits adequate for my worst-case scenario?
3. How does the deductible compare to the premium savings?
4. What's the insurer's reputation for handling claims?
5. Are there discounts available for bundling multiple policies?

Many Maine businesses save 5-15% by packaging multiple coverages with one carrier, so ask your agent about these opportunities.

Step 5: Purchase Your Business Insurance

With your comparison complete, it's time to make your selection and buy Maine business insurance that meets your needs.

Before signing, carefully review the policy details one last time. Verify that all discussed coverages are included and that the information about your business is accurate. Even small errors could cause problems during a claim.

Your agent will guide you through the final application process, which typically requires information about your business operations, employee count, revenue, and claims history. Be thorough and honest—inaccuracies could potentially void coverage later.

Consider your payment options carefully. While monthly payments help with cash flow, many insurers offer discounts for paying annually. Choose what works best for your business budget.

Once everything is finalized, make sure you receive proper documentation, including certificates of insurance you might need to show clients, landlords, or licensing authorities.

"The entire process was surprisingly straightforward," shares Willie, who recently purchased coverage for his Kennebunk business. "My agent explained everything clearly and found coverage that protected my business without breaking the bank."

Step 6: Review and Reassess Your Insurance Annually

Buying business insurance isn't a one-and-done task. As your business evolves, so should your coverage.

Set a calendar reminder to review your policies annually with your agent. This regular check-in ensures your coverage keeps pace with your growing business. Perhaps you've added valuable equipment, hired more employees, or expanded your services—all these changes could require adjustments to your protection.

Life events like renovations, expansions to new locations, or offering new products may necessitate mid-year policy updates. Don't wait for renewal if significant changes occur.

Martha, who owns a popular Wells restaurant, shares: "After adding outdoor seating, I called my agent right away to update my liability coverage. When a customer later slipped on our patio steps, I was grateful we'd increased our limits. The claim process was smooth because we had proper coverage in place."

Your insurance should grow with your business. What worked when you first opened your doors in Biddeford might not provide adequate protection as your operation expands throughout Southern Maine.

Insurance is an investment in your business's future—one that provides both financial protection and valuable peace of mind as you continue building your Maine business legacy.

Common Types of Business Insurance in Maine

When you're ready to protect your Maine business, understanding the various insurance options is essential. Let's explore the most common types of coverage that can safeguard your business against unexpected challenges.

General Liability Insurance

Think of general liability insurance as your business's first line of defense. This foundational coverage protects your company when the unexpected happens—like when a customer slips on your newly mopped floor or your employee accidentally damages a client's property.

For Maine business owners, general liability typically covers bodily injury, property damage, and even personal injury claims like libel or slander. Imagine a scenario where a customer trips over a snow-covered step outside your Biddeford shop and breaks their arm. General liability would help cover their medical expenses and your legal defense if they decide to sue.

The national median cost runs about $42 per month, though this varies based on your specific business. For public-facing businesses in high-traffic areas like Wells or Ogunquit, this coverage isn't just nice to have—it's essential protection against potentially devastating claims.

Professional Liability Insurance

If your business provides professional advice or services, professional liability insurance (also called errors and omissions insurance) is your safety net against claims that your work caused financial harm to clients.

This coverage is particularly crucial for:

• Financial advisors and consultants who provide guidance that impacts clients' financial decisions
• Healthcare providers facing the unique risks of medical practice
• Real estate professionals navigating Maine's dynamic housing market
• Technology providers who could face claims related to system failures or data issues

A Kennebunk accounting firm, for instance, might face a lawsuit if a client claims a tax filing error resulted in penalties. Professional liability would help cover legal defense costs and potential settlements, with national median costs around $61 monthly.

Commercial Property Insurance

Maine's weather can be unforgiving—from coastal storms battering Ogunquit businesses to heavy snow damaging roofs in Biddeford. Commercial property insurance protects your physical assets against fire, theft, vandalism, and certain types of water damage.

This coverage is especially important if you:

• Own or lease physical space for your business
• Maintain inventory (particularly seasonal businesses in tourist areas like Kennebunk)
• Use specialized equipment or technology
• Operate in one of Maine's charming but potentially vulnerable historic buildings

Beyond covering your building and contents, many policies include business income coverage to replace lost revenue if a covered event forces you to close temporarily. This can be a lifesaver for seasonal businesses that rely on peak tourist months for their annual income.

Workers' Compensation Insurance

If you have employees in Maine, workers' compensation insurance isn't just recommended—it's required by law for most businesses. This coverage provides benefits to employees who suffer work-related injuries or illnesses, covering medical expenses and a portion of lost wages.

Nearly all Maine employers with one or more employees must carry this coverage, with limited exemptions for sole proprietors and certain business structures. The penalties for non-compliance can be severe, including fines and potential personal liability for workplace injuries.

Beyond legal compliance, workers' comp offers important protection for both you and your employees. It ensures your team receives necessary care if they're injured on the job, while generally preventing them from suing your business for covered workplace injuries.

"I never thought I'd need it until one of my kitchen staff sliced their hand badly during the dinner rush," shares a restaurant owner in Wells. "Workers' comp covered their medical bills and partial wages during recovery, which protected both my employee and my business."

Cyber Liability Insurance

Cyber liability insurance has become essential for businesses of all sizes. This coverage protects against losses related to data breaches, hacking, ransomware, and other cyber incidents.

For Maine businesses that collect customer information, process online payments, or rely on computer systems—from Portland tech companies to small gift shops in Ogunquit—cyber liability provides crucial protection. It typically covers data breach response costs, ransomware payments, business interruption losses, and legal expenses resulting from cyber incidents.

A data breach can cost small businesses an average of $200,000, enough to permanently close many operations. With cyber attacks becoming increasingly sophisticated, this coverage has shifted from optional to necessary for most Maine businesses.

Buy business insurance that addresses your specific risks and provides comprehensive protection for your Maine business. Working with a local agent who understands the unique challenges of operating in southern Maine can help ensure you have the right coverage in place when you need it most.

Factors Influencing the Cost of Business Insurance

‍

When you're planning to buy business insurance, understanding what affects your premium costs can help you budget more effectively and potentially save money. Think of insurance pricing like a puzzle – several pieces come together to create your unique premium. Let's break down these factors in a way that makes sense for Maine business owners.

Business Industry and Risk Level

Not surprisingly, what your business does dramatically impacts what you'll pay for insurance.

If you run a construction company in Biddeford or a tree service in Wells, you're likely to pay significantly more than someone operating an accounting office in Kennebunk. Why? It's all about risk. Insurers have mountains of data showing that certain industries experience more accidents and claims than others.

High-risk businesses in Maine typically include restaurants (especially those serving alcohol in tourist areas like Ogunquit), construction companies, tree services, and manufacturing operations. These businesses might pay two to three times more for the same coverage compared to lower-risk operations.

Low-risk operations generally include professional services, consulting firms, and most office-based businesses. If your business primarily involves people sitting at desks in Kennebunk rather than climbing ladders or operating heavy machinery, you'll typically enjoy lower premiums.

The good news? Even if you're in a higher-risk industry, implementing strong safety programs and risk management practices can help offset some of these costs. Many Maine insurers offer credits or discounts for businesses that go above and beyond in protecting their employees and customers.

Business Location and Operations

Where you hang your business shingle in Maine matters tremendously to insurance companies.

A retail store in downtown Ogunquit faces different risks than a similar store in Biddeford. Coastal properties in Wells or Ogunquit might face higher rates due to increased flood or storm risks. Even within the same town, factors like crime rates, proximity to fire stations, and building construction type affect your rates.

Maine's beautiful historic buildings come with their own insurance challenges. That charming 150-year-old converted home in Kennebunk where you've set up your business? It might cost more to insure because replacement costs are higher and bringing older buildings up to current codes after damage can be expensive.

Your operational scope also matters. If you're a plumber who only services Kennebunk, you'll likely pay less than one who travels throughout York County. The more territory you cover, the more exposure you have.

Smart Maine business owners can sometimes lower their premiums by:

• Installing security systems and fire protection equipment
• Upgrading electrical, plumbing, and heating systems in older buildings
• Implementing formal safety programs and employee training
• Choosing locations with lower risk factors when possible

Coverage Types and Limits

When you buy business insurance, the specific coverage choices you make directly impact your costs.

Choosing higher coverage limits provides better protection but comes with higher premiums. For example, increasing your general liability limit from $1 million to $2 million typically increases your premium by about 15-30%. For many Maine businesses, especially those working with larger clients or operating in high-traffic tourist areas like Ogunquit, the extra protection is worth the cost.

Your deductible choice represents a classic risk/reward decision. A $5,000 deductible will give you a lower premium than a $1,000 deductible, but you'll pay more out-of-pocket when a claim occurs. For seasonal businesses in Maine's tourist areas, timing matters too – a claim during your busy summer season in Wells or Ogunquit might be easier to absorb than one during the quieter winter months.

Bundling policies is one of the smartest moves Maine business owners can make. Combining multiple policies through a Business Owner's Policy (BOP) or placing all your coverage with one insurer often results in discounts of up to 10%. Not only does this save money, but it also simplifies your insurance management.

Claims History

Your business's past claims experience tells insurers a lot about your future risk. It's like your insurance report card.

Businesses with frequent claims are considered higher risk and typically face higher premiums. It's not just the number of claims that matters, but also their severity. One large $100,000 property claim will impact your future premiums more than two small $5,000 claims.

The good news is that many Maine insurers offer significant discounts to businesses that maintain claims-free records. These "loss-free credits" can add up over time, rewarding businesses that invest in safety and risk management.

Jon, a restaurant owner in Biddeford who has maintained a strong safety record, shares: "Our experience with our insurer has been excellent and easy. Maintaining a strong safety record has helped keep our premiums manageable even as we've grown."

If you do experience a claim, demonstrating that you've taken concrete steps to prevent similar incidents in the future can sometimes help mitigate premium increases. For example, if you had a slip-and-fall claim at your Kennebunk shop, showing that you've implemented a formal floor inspection program and improved lighting might help when renewal time comes around.

Frequently Asked Questions about Buying Business Insurance

Do I Need to Buy Business Insurance if I'm a Sole Proprietor in Maine?

If you're running a solo operation from your Kennebunk home office or selling handcrafted goods online from Wells, you might wonder if insurance is really necessary. While sole proprietors without employees typically aren't legally required to carry workers' compensation in Maine, buying business insurance is still incredibly important.

Think about it this way: as a sole proprietor, there's no legal separation between your business and personal finances. Without proper insurance, that means your home, savings accounts, and even personal property could be at risk if someone sues your business or you face a significant loss.

Even if you're extremely careful, accidents happen. A client could trip on your doorstep during a meeting at your home office in Ogunquit. Someone might claim your professional advice caused them financial harm. Your expensive equipment could be damaged in one of Maine's notorious winter storms.

Beyond protection, many clients simply won't work with uninsured businesses. Having insurance demonstrates professionalism and responsibility, which helps build trust with customers throughout Southern Maine.

Most sole proprietors in Maine should consider at least general liability insurance, along with professional liability coverage if you provide services or advice. And if you're using your vehicle to deliver products or drive to client meetings in Biddeford, don't forget about commercial auto coverage.

As Missy, a freelance graphic designer in Wells, told us: "I initially thought insurance was just another expense I could avoid. Then a client spilled coffee on my laptop during a presentation. My business property coverage saved me from a $2,000 replacement cost that would have seriously hurt my bottom line."

How Can I Buy Business Insurance for My Online Business?

The digital landscape presents unique risks for Maine's growing number of online entrepreneurs. While you might not have a physical storefront in downtown Kennebunk, your virtual business still needs proper protection.

Online businesses face distinctive challenges that require specialized coverage:

Cyber liability insurance is particularly crucial, as it protects you if customer data is breached or your site gets hacked. For an e-commerce store selling Maine-made products or a web designer in Biddeford, this coverage can be a lifesaver when digital disasters strike.

Professional liability insurance protects online service providers against claims that your work caused financial harm to clients. Whether you're a virtual consultant, content creator, or software developer working from your Ogunquit home, this coverage is essential.

Even without a physical location, you still need general liability insurance to protect against claims of personal injury (like libel or slander) that could arise from your online content or social media presence.

Don't forget about your physical assets too. Business personal property insurance covers the computers, cameras, and other equipment you use to run your online business from your Maine home or office.

The process for buying business insurance for an online business follows the same steps as traditional businesses: assess your risks, determine necessary coverage, compare quotes, and select your policies. Many insurers now offer packages specifically designed for digital businesses, making it easier to get comprehensive protection.

What Information Do I Need to Provide to Buy Business Insurance?

Being prepared with the right information makes the insurance-buying process much smoother. When you're ready to buy business insurance for your Maine business, you'll typically need to provide:

Basic business details including your business name, physical address (whether that's in Wells, Kennebunk, Ogunquit, or Biddeford), contact information, and federal tax ID number.

Business structure information - whether you operate as a sole proprietorship, LLC, partnership, or corporation affects your coverage needs and options.

Industry specifics including what products or services you provide. A detailed description helps insurers understand exactly what risks you face in your particular line of work.

Financial information such as your annual revenue, payroll figures, and projected growth. These numbers help determine appropriate coverage limits and premiums.

Employee details including how many people you employ and what types of work they perform. This is especially important for workers' compensation coverage, which is required for most Maine businesses with employees.

Property information if you're seeking property coverage. This includes details about your building's age, construction type, square footage, security features, and fire protection systems.

Equipment and inventory values help ensure you have adequate coverage for your business personal property.

Claims history from the past 3-5 years helps insurers assess your risk level.

Being thorough and accurate with this information is crucial. Incomplete or incorrect details could leave dangerous gaps in your coverage or cause problems if you need to file a claim.

Mike, a restaurant owner in Ogunquit, learned this lesson firsthand: "I underestimated the value of my kitchen equipment when buying my policy. After a small fire, I finded I was underinsured by nearly $15,000. Now I make sure my inventory lists are detailed and up-to-date before every policy renewal."

Having these details organized before you contact an agent not only speeds up the process but helps ensure you get the most accurate quotes and appropriate coverage for your Maine business.

Conclusion

Buying business insurance is a cornerstone decision that can make or break your Maine business when unexpected challenges arise. From the crashing waves along Wells and Ogunquit to the historic mill buildings of Biddeford, Maine businesses face distinctive risks that require thoughtful protection.

The journey to properly insuring your business doesn't need to be overwhelming. By following the steps we've outlined, you can approach this important decision with confidence:

First, take time to thoroughly assess what makes your business vulnerable – whether that's your coastal location in Kennebunk, the specialized equipment in your shop, or the professional advice you provide to clients.

Next, determine which insurance types will create your safety net. Maybe you need robust property coverage for your restaurant in Ogunquit or professional liability for your consulting firm in Portland.

Working with a local agent who truly understands Maine's business landscape makes all the difference. They'll know why flood insurance matters more for your Wells storefront than it might for a similar business inland. They'll understand the seasonal nature of tourism in Southern Maine and how that affects your coverage needs.

When comparing quotes, value trumps price. The cheapest policy might leave dangerous gaps in your protection, while a slightly higher premium might provide significantly better coverage where you need it most.

Once you've secured your coverage, don't just file the paperwork away. As your business grows and changes – perhaps expanding to a new location in Biddeford or adding services – your insurance needs will evolve too. Regular reviews keep your protection current.

Business insurance isn't just about meeting legal requirements. It's about creating genuine security for the business you've poured your heart into building. With proper coverage, you can focus on serving your customers and growing your enterprise, rather than worrying about what might happen if disaster strikes.

At Sevigney-Lyons Insurance Agency in Wells, we've been walking alongside Maine business owners for decades, helping them steer the complexities of business insurance. Our deep community roots and relationships with over 20 top carriers allow us to find solutions custom specifically to your business needs.

Don't wait until after a problem arises to find gaps in your coverage. Take action today to ensure your Maine business has the protection it deserves.