Insurance to Cover You as the
Owner of Your Business

There are many types of commercial business insurance which cover not only your property but also your reputation and personal assets. Business Owner's Insurance is one of the key insurance policies for the owner of a small- to medium-sized company. Professional liability insurance is typically not included in a Business Owner's Insurance policy (please use link at left for more information).

Maine-based companies with 100 or fewer employees and annual revenues of less than $1 million qualify for Maine Business Owner's Insurance. This type of packaged business insurance coverage will cover lost revenues (for up to a year) due to losses covered under Property Insurance, Business Interruption Insurance and/or Business Liability Insurance coverage.

Business Property Insurance (commercial property insurance) covers losses to your physical location based upon fire, theft, flooding, etc. in which you have to leave your physical premises. Riders or endorsements to the policy may cover other specific items such as accounts receivable, computers and related software, contracts or other valuable papers, food spoilage due to power outages or equipment failure, losses due to employee dishonesty, equipment failures, money and securities, signage, and other industry-specific losses.

Business Interruption Insurance covers your overhead expenses as well as a predetermined amount of your income in the event that you are unable to operate your business due to physical loss.

Business Liability Insurance covers you for any injury or accident which may occur on your property or as the result of your product and/or service. Payments for medical services, property damage, and other related legal expenses will typically be covered with this type of business insurance.

You can rely on Cole Harrison Agency to steer you through the choices of inclusions, limits, etc. We can also give you some advice for reducing your risks and minimizing your premium payments.