After a thorough evaluation of general liability insurance companies in Maine, Thimble emerged as the top-performing insurer. The company's policies cost $53 per month for limited liability companies (LLCs) with 20 employees and $22 per month for sole proprietors with no employees. Thimble is also the cheapest option in Maine.

Our analysis takes into account several essential factors, such as affordability, customer satisfaction, financial stability and the online quote process.

MoneyGeek Logo IconBest General LiabilityMaine
2024

Best General Liability Insurance in Maine

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in Maine.

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Coverage costs and company information for general liability insurance providers in Maine were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Maine

Thimble is the best general liability insurance provider in Maine, receiving a MoneyGeek score of 92 out of 100. See the table below for a summary of the rankings of the analyzed companies in Maine, including their average costs and MoneyGeek scores.

How was this MoneyGeek score calculated?

ThimbleMoneyGeek Score92Monthly Cost Without Employees$22Monthly Cost With 20 Employees$53
NationwideMoneyGeek Score90Monthly Cost Without Employees$32Monthly Cost With 20 Employees$41
The HartfordMoneyGeek Score88Monthly Cost Without Employees$31Monthly Cost With 20 Employees$53
NextMoneyGeek Score87Monthly Cost Without Employees$26Monthly Cost With 20 Employees$35
HiscoxMoneyGeek Score83Monthly Cost Without Employees$29Monthly Cost With 20 Employees$90
Best OverallScore: 92
Thimble
3/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Cheapest average rate in Maine for sole proprietors

High financial stability ratings

Easy and fast online quote systems

CONS

Expensive than most competitors for LLCs

Higher than average customer complaints

Company Highlights

Thimble emerged as the best overall company for general liability insurance in Maine. It charges $22 monthly for sole proprietors, which is the cheapest rate in the state, and $53 per month for LLCs with 20 employees, which is one of the more expensive premiums.

This insurer has excellent financial stability, according to AM Best, and offers quotes quickly. It does perform worse in terms of customer satisfaction compared to other insurers we evaluated.

Cheapest General Liability Insurance in Maine

Thimble stands out as the best choice for small business owners seeking affordable general liability insurance coverage in Maine. It charges an average rate of $53 per month for LLCs and $22 per month for sole proprietors.

For this category, we created an affordability score that considers the monthly costs for both sole proprietors and LLCs, weighted at 50% each. Although Thimble emerged as the winner based on this score, the company may not have the lowest cost for both entity types.

How was this MoneyGeek score calculated?

CheapestScore: 95
Thimble
3/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Cheapest average rate in Maine for sole proprietors

High financial stability ratings

Fast online quote systems

CONS

More expensive than most competitors for LLCs

Company Highlights

Thimble stands out as the cheapest option for small business owners in Maine seeking general liability insurance coverage. It offers the lowest rates for sole proprietors, but its premiums for LLCs are among the most expensive of the insurers we evaluated.

With Thimble, you can get a quote in roughly 20 seconds, making the process quick and efficient. You can also rest easy knowing the company is financially stable, providing the ability to pay out your claims even during uncertain economic times.

Best General Liability Insurance for Employers in Maine

For Maine employers seeking comprehensive general liability insurance, Nationwide emerges as the best choice, with a MoneyGeek score of 96 out of 100. It stands out with an average policy cost of $41 per month.

To determine the rankings in this category, MoneyGeek based its evaluation on the average monthly cost for LLCs with 20 employees. This factor is crucial as employee count can significantly affect the cost of general liability insurance. While businesses with fewer than 20 employees may pay less than the average cost, those with more than 20 employees might pay higher rates.

How was this MoneyGeek score calculated?

Best for EmployersScore: 96
Nationwide
4/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Affordable rates for LLCs

Financially stable

Good customer service

CONS

Slow online estimates

Company Highlights

Nationwide is a renowned insurance provider and is our top pick for the best general liability insurer for employers in Maine. On average, it costs $41 monthly for a policy that covers 20 employees.

This insurer is financially stable, so policyholders can be confident their claims will be paid out. It also offers great customer service. However, it does take over two minutes to get a quote from Nationwide, which is slow compared to other insurers we evaluated.

Best General Liability Insurance for Sole Proprietors in Maine

Thimble's affordable rates and comprehensive coverage make it a top choice for many small businesses in Maine. With a MoneyGeek score of 95 out of 100, it provides the best general liability insurance in Maine for sole proprietors. Its policy cost is approximately $22 per month.

When ranking companies, we considered the average cost of policies for sole proprietors with no employees. Businesses in riskier industries like construction may pay more for general liability insurance due to the higher likelihood of accidents and injuries.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 95
Thimble
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Affordable premiums

Financially stable

Quick quotes

CONS

Poor customer complaint score compared to other insurers

Company Highlights

Sole proprietors in Maine may find Thimble to be a great option for purchasing general liability insurance. A policy from this insurer costs $22 monthly, and you can get a quote in under 20 seconds.

Thimble received a solid financial stability ranking, allowing policyholders to know their claims will be paid out. It did rank lower than other insurers when it came to customer satisfaction, which might be a deterrent for potential customers.

Do You Need General Liability Insurance in Maine?

While general liability insurance is not mandatory according to Maine state law, it is a wise purchase to ensure your business is protected from financial loss due to liability claims. General liability insurance provides coverage for:

  • Third-party bodily injuries: General liability insurance helps you avoid paying for medical costs incurred by an injured party as a result of your business operation.
  • Third-party property damage: General liability insurance covers the costs of damages to someone else’s property caused by your business or employees. This can help protect your business from financial loss and potential legal action.
  • Personal and advertising injury: General liability insurance provides financial protection to businesses facing claims of defamation, libel, slander or copyright infringement.

In addition to general liability insurance, depending on the nature of your business, there are other types of business insurance policies that Maine business owners should consider. For example, workers’ compensation is required for any company with employees in the state.

Companies also need commercial auto insurance to cover company-owned vehicles. Policy minimums include:

  • $50,000 per person for bodily injury liability
  • $100,000 per accident for bodily injury liability
  • $25,000 per accident for property damage liability
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SMALL BUSINESS RESOURCES IN MAINE

The State of Maine's Small Business Resources provides assistance and resources to entrepreneurs and small business owners in Maine, including access to training, counseling and funding opportunities. They also offer various programs and services to support the growth and success of small businesses in Maine.

How Much Is General Liability Insurance in Maine?

In Maine, the average cost of general liability insurance is $55 for LLCs with 20 employees and $28 for sole proprietors with no employees. These rates apply to a specific type of policy that has a $2 million aggregate limit, a $1 million limit occurrence limit and no deductible.

The aggregate limit is the maximum amount that the insurance provider can pay out for all claims made during the policy period. The occurrence limit is the maximum amount that the insurer can cover for each individual claim. The deductible is the amount of money that the business owner must pay out of their own pocket before their insurance policy starts covering the costs.

Factors That Impact General Liability Insurance Costs in Maine

The following factors determine the cost of your general liability insurance:

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    Policy limits

    When you purchase a general liability insurance policy, you have the option to set your policy limits. Higher policy limits normally result in increased premiums, while lower limits mean you’ll pay less.

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    Number of employees and payroll costs

    Larger businesses with more employees and higher payroll costs typically have more risks and exposures than smaller ones, so they usually pay higher premiums. The $27 price difference between what sole proprietors and LLCs pay for coverage highlights this.

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    Business location

    Insurance companies charge higher rates to businesses operating in more densely populated areas, such as cities or urban centers. Businesses in these areas are more likely to experience incidents that may result in claims being filed, such as accidents or injuries. City rates may vary from statewide averages.

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    Claims history

    Business owners who have filed claims before may have higher premiums because they are considered higher risk. Insurers may see these businesses as more likely to file a claim in the future, which increases their potential financial risk.

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    Industry

    The industry your business belongs to can greatly influence the cost of premiums. Construction and healthcare, for example, are inherently riskier than others, which makes them more prone to lawsuits and other types of claims. The table illustrates the average cost of general liability insurance for cleaning businesses, software development companies and general contractors in Maine.

General ContractorMonthly Cost Without Employees$114Monthly Cost With 20 Employees$1,975
Software DevelopmentMonthly Cost Without Employees$28Monthly Cost With 20 Employees$55
CleaningMonthly Cost Without Employees$41Monthly Cost With 20 Employees$1,043

Frequently Asked Questions About General Liability Insurance in Maine

To provide you with more helpful information, we have answered some frequently asked questions about general liability insurance in Maine.

Which company has the best general liability insurance in Maine?
Which company has the cheapest general liability insurance in Maine?
What does general liability insurance cover in Maine?
Does Maine require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


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