by | Feb 4, 2025 | Business, Insurance

Last Updated: February 5, 2025

Disclosure: Our content isn't financial advice. Do your due diligence and speak to your financial advisor before making any investment decision. We may earn money from products reviewed. (Learn more)

Maine is a business-friendly state as local businesses are part of their culture rather than its thriving. Entrepreneurship is a common trend here with firms having fewer than 500 employees make up 99.2% of Maine’s workforce. Small business owners in Maine cite regulations, fair access to resources, and strong community support as the enticing aspects the Pine Tree State offers.

The firms must acquire business coverage to find success in this marketplace. Insurance helps firms avoid unexpected financial losses such as liability claims, property damage or legal fees. It is essential that companies team with the right insurer who creates a policy that meets all requirements.

This article will take a look at eight leading business insurance companies in Maine. 

InsuranceBee

InsuranceBee started its operations in 2010. Since then, the insurance firms has been helping their Maine customers avoid unforeseen financial losses by providing insurance plans as per their requirements.

The insurance policies they offer include professional liability insurance, errors and omissions insurance, and cyber liability. InsuranceBee covers 180 different professions that include:

  • IT professionals
  • Independent consulting firms
  • Retailers
  • Artisan contractors
  • Janitorial services
  • Caregivers

Their online quotes, personalized service, and tailored insurance solutions for various industries have contributed to their status as leading insurance providers in the state.

NEXT Insurance

NEXT Insurance is a startup that provides tailored business insurance policies to small-sized firms through its electronic platform. 

Their custom-designed policies stand out for their rapid quotes and competitive pricing for their customers in various sectors such as construction, food & beverage, sports and fitness, and retail trade.

The company uses technology and artificial intelligence to streamline the management process. Through their platform, clients can bundle their plan coverages, manage their policies, and make secure online payments.

Thimble

Thimble is an insurance firm that helps small businesses avoid unexpected financial setbacks with their customized policies. 

The company provides liability coverage for customers in over 100 sectors including beauticians, musicians, landscapers, beauticians, dog walkers, handymen, and DJs.

Thimble also offers flexible coverage plans for short-term,  bases. Their solution is versatile meaning they can help businesses of all sorts grow financially. 

Tivly

Tivly takes the hassle out of purchasing business insurance for firms operating in Maine. It is an insurance marketplace through which small business owners and operators find quotes for commercial insurance from leading insurance companies. 

Based in Oklahoma, they also provide coverage in case of business closure, liability claims, malpractice, property loss or damage, along with theft or vandalism to their clients.  Their experts use a personalized approach to help small business owners find quotes for commercial insurance from leading names in the industry.

Hiscox

Hiscox has been providing insurance solutions to small businesses and professional services. Founded in 1901 in Bermuda,  the company’s products include general liability, professional liability, business owner’s policies, and cyber insurance. 

They have been serving more than 180 industries that range from consultants, contractors, IT professionals, and retailers. Hiscox has earned the trust of clients with their online quotes, personalized plans, and universally accepted coverage. 

Clark Insurance

The business insurance experts at Clark Insurance focus on providing solutions tailored to their client’s requirements so they can spend time managing their operations and worry less about potential liabilities.

Their coverage options include property & Inland Marine insurance, cyber insurance, crime insurance, errors & omissions (professional liability), general liability, and others. Apart from providing coverage, they also offer safety & risk consulting services and employee benefits.

F.A. Peabody Insurance

F.A. Peabody (FAPCO) is an insurance firm that has been helping Maine businesses with their business insurance needs since the 1920s! The firm’s Unique Selling Product is its  Specialty Business Insurance is their  (USP) which protects clients from risks that they did not see coming.

Their products also include commercial property and auto insurance, workers’ compensation insurance, and inland marine insurance. The industries to which the firm provides coverage are municipalities, daycares, restaurants, and arborists.

biBERK

biBERK is part of renowned investor Warren Buffett’s Berkshire Hathaway Insurance Group. The company stands out from others because of its wide range of products that include workers’ compensation, general liability, and business owner’s policies. 

biBERK simplifies and modernizes the small business insurance process. They provide coverage to over 180 professions. and enjoys an A++ rating from A.M. Best. Moreover, the insurance firm provides 20% more affordable solutions than its competitors in the state.

Brief Overview Of Maine’s Leading Business Insurance Providers

The table illustrates the coverage options and unique selling points of these nine prolific insurance providers that deal in business insurance policies.

Insurance CompanyProducts OfferedUnique Selling Points (USP)
InsuranceBeeProfessional liability, errors & omissions, cyber liabilityCovers 180 professions, online quotes, tailored solutions
NEXT InsuranceCustom business insurance for small businessesAI-driven platform, instant quotes, online policy management
ThimbleGeneral liability for over 100 professions, short-term coverageShort-term flexible plans, coverage for diverse small business sectors
TivlyCommercial insurance marketplace, liability, malpractice, property lossPersonalized commercial insurance quotes from top providers
HiscoxGeneral liability, professional liability, business owner’s policy, cyber insuranceServing 180+ industries, online quotes, trusted for over a century
Clark InsuranceProperty & Inland Marine, cyber, crime, errors & omissions, general liabilityRisk consulting services, customized coverage for various business needs
F.A. Peabody InsuranceSpecialty business insurance, commercial property & auto, workers’ compensation, inland marineEstablished in the 1920s, protects against unexpected risks, specialty insurance
biBERKWorkers’ compensation, general liability, business owner’s policyPart of Berkshire Hathaway, A++ rated, 20% more affordable policies

Top Cities in Maine for Business Insurance

The following cities in Maine are favorable locations for business activities and are hotspots for customized solutions.

  1. Portland
  2. Lewiston
  3. Bangor
  4. Auburn
  5. Brunswick
  6. Biddeford
  7. Sanford
  8. Saco
  9. Westbrook
  10. Presque Isle
  11. Caribou
  12. Houlton

Maine Government Resources for Business Insurance

Check out these government resources about business insurance for the state of Maine:

Conclusion

Business insurance allows you to grow your company financially by covering cover unexpected costs such as property damage, legal fees, and even lost income during difficult times. The right type of coverage allows companies to run their operations without worrying about the complexities. These eight insurance providers will help you in this respect and find financial success in Maine’s thriving business landscape.

Are you planning to expand your business to other parts of the United States? You can check out our listing of reliable business insurance providers in Arizona and the leading commercial insurers in Florida. You can also get in touch with Maine’s leading business loans and startup financial firms to fund you business operations. We at Sophisticated Investor are here to help your business grow financially by providing insights to running a successful business.

Brandi Marcene

Brandi is a financial writer and entrepreneur with decades of expertise covering U.S. business and financial topics. Her work has been featured on Consumer Affairs, ASBN Small Business Network, Koho and many other top financial publications.