Maine Facility Support Services Insurance Policy Information
Maine Facility Support Services Insurance. As a facility support services professional, you are dedicated to ensuring that the mission-critical facilities of your clients operate at peak efficiency every day of every year. You have the knowledge and expertise to ensure equipment reliability and uptime in data centers, network operations centers, communications facilities, POP sites and SCIF facilities.
You want to provide support operations within your client's facilities with minimum interruption, so get Maine facility support services insurance coverage for any unexpected risks coming along the way.
Maine facility support services insurance protects your business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
What Coverages Does Facility Support Services Insurance Provide?
Every facility support services firm has its own unique services that need protection. Maine facility support services insurance presents a comprehensive package that can meet your insurance needs. With the various policies included, you will have the "deep pockets" you need to cover a claim without jeopardizing your firm or your bank account. Following are some of the major coverage types:
General Liability Insurance: No matter the services you provide or how carefully you work, there are certain risks you expose your business to when you staff are working with clients each day. Thanks to the ever-growing reliance on the courts to settle disputes, there is no such thing as a small accident these days. Anyone can be sued; regardless of the safety measures you have in place to prevent accidents on your clients' premises. General liability insurance can protect your firm from financial devastation arising from events you could be liable for.
Worker's Compensation Insurance: Workers comp is required in most states by law for any non-owner employees. It is also usually contractually required by your clients.
You rely on the help of your staff to make sure your facility support services firm runs smoothly. From the receptionists who handle your appointments to the staff working at your clients' premises, your employees help make your business a success. ME workers comp coverage can pay out for medical bills, loss of work, and other fees incurred to your employees if they are injured on the job.
Business Property / Contents: Usually written on an "all risk" basis, this Maine facility support services insurance covers your normal contents, furniture and fixtures, as well as supplies and specialized work equipment. In most cases the coverage is written on a "Replacement Cost" basis, so current pricing always needs to be considered.
Employment Practices Liability Insurance: EPLI insurance provides the protection you need should one of your employees allege any number of employment practice violations. These violations include race, age or gender discrimination, sexual harassment and wrongful termination. EPLI is essential coverage in today's litigious workplace.
Employee Dishonesty Insurance: The facility support services industry comprises establishments primarily engaged in providing operating staff to perform a combination of support services within a ME client's facilities. Employee dishonesty insurance offers coverage against direct physical loss of personal property, including money caused by the dishonest acts of your employees.
ME Commercial Auto Insurance: Even if you do not own business vehicles, your staff may use their auto on your behalf (such as going to the bank, store, clients, etc.) which generates the need for automobile insurance. With this non-owned auto policy, employers ascertain that they are also protected from liability that stems from employees that may use their own vehicles for any errand of your clients. Generally, you need this Maine facility support services insurance policy if:
- If you use your auto to conduct your services.
- You need higher limits of liability then a personal policy offers.
- Haul a considerable weight in tools or equipment used to conduct your business.
- Employees operate the auto or if ownership is in the name of your firm.
Hired Auto - Provides protection for legal liability arising from the use or maintenance of a hired auto.
Cyber Liability: No person or organization is immune from a data breach, regardless of size or even the sophistication of their security. Maine facility support services insurance has an optional cyber liability endorsement that is designed to protect you from losses related to data breaches and cyber-attacks.
Business Owner's Policy: A Business Owner's Policy (BOP) protects your business in much the same way that a homeowner's insurance policy protects your home and personal possessions. By combining two of the most critical coverages for small business - Business Liability and Property - a BOP can save you money while safeguarding everything you've worked so hard to build.
ME Facility Support Services Insurance
ME facility support service providers face special challenges when looking for the right insurance provider because each service whether janitorial, maintenance, trash disposal, guard and security, mail routing and other logistical support, reception, laundry or else presents unique risks. Facility support services insurance is very important because it's tailored to fit your specific needs so that you won't be overpaying for something you're not required to have, or missing any kind of coverage that's absolutely essential.
Maine Economic Data, Regulations And Limits On Commercial Insurance
You have a great idea for a business and you have developed excellent products and services that you are certain people will benefit from. You've also developed a viable business plan. Now you need to choose a place to start your company.
In order for your company to be as successful as possible, you need to choose a location that offers a favorable market for your specific business. After all, if the area doesn't offer a job force to support your operation or a target market that will purchase your products and services, you likely aren't going to succeed.
With that said, if you are thinking about starting a business in Maine, having an understanding of the state's economic trends is essential. It's also important to know what type of commercial insurance you'll need to carry. Below, we offer an overview of this information so that you can determine if ME is right for your business.
Economic Trends For Business Owners In Maine
Unemployment rate is a good indicator of a state's economic climate. The lower the rate, the more opportunities exist for business owners, as it suggests that there are ample job opportunities, and the more job opportunities, the more successful businesses there are in the region.
As per the Bureau of Labor Statistics, the unemployment rate in the state of Maine was 2.9% in December, 2019; that's 0.6% lower than the national average, which was 3.5% at the same time.
Additionally, according to economists, more employment opportunities are expected in the coming years, which will further reduce the unemployment rate.
While locations throughout the state offer opportunities for business owners, there are certain locations that are ideal for entrepreneurs. These locations include:
- Bar Harbor
These cities are the largest in the Pine Tree State, so it's understandable why they offer the best opportunities for businesses. While Maine is home to multiple industries, there are specific sectors that do particularly well here, including:
- Finance and insurance
- Hospitality and tourism
- Information technology
- Professional services
- Real estate
Therefore, if you are considering launching a business in any of these industries, Maine is likely a good location for your company.
Commercial Insurance Requirements In Maine
The Maine Bureau of Insurance regulates insurance in ME. Maine mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Maine requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. Independent contractors do not count as employees, but if those contractors employ subcontractors, the subcontractors must be covered by a workers compensation policy.
Maine also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Miscellaneous & Non-Profit Insurance
Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.
- Adult Daycare Insurance
- Agriculture, Forestry, Fishing & Hunting
- Bail Agent
- Control of Well
- Employment / Staffing Agency
- Engraving Business
- Facility Support Services
- Mail Order
- Oil And Gas Lease
- Personal Concierge
- Photofinishing Lab
- Portable Sanitation
- Printers & Publishers
- Private Water Districts
- Process Server
- RV Parks & Campgrounds
- Security Guard
- Surety Bonds
- Unmanned Aerial Vehicles (UAV) Drone
- Waste Disposal Landfill
- Wedding Planner
An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.
Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.
Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.
An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.
Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.
Request a free Maine Facility support services insurance quote in Arundel, Auburn, Augusta, Bangor, Bar Harbor, Bath, Belfast, Berwick, Biddeford, Brewer, Bridgton, Brunswick, Bucksport, Buxton, Camden, Cape Elizabeth, Caribou, Casco, China, Cumberland, Dexter, Dover-Foxcroft, Durham, Eliot, Ellsworth, Fairfield, Falmouth, Fort Kent, Freeport, Fryeburg, Gardiner, Glenburn, Gorham, Gray, Greene, Hampden, Harpswell, Hermon, Hollis, Houlton, Jay, Kennebunk, Kennebunkport, Kittery, Lebanon, Lewiston, Limington, Lincoln town, Lisbon, Litchfield, Lyman, Madawaska and Wiscasset, Madison, Millinocket, Monmouth, Naples, New Gloucester, North Berwick, North Yarmouth, Norway, Oakland, Old Orchard Beach, Old Town, Orono, Orrington, Oxford, Paris, Pittsfield, Poland, Portland, Presque Isle, Raymond, Richmond, Rockland, Rumford, Sabattus, Saco, Sanford, Scarborough, Sidney, Skowhegan, South Berwick, South Portland, Standish, Topsham, Turner, Vassalboro, Waldoboro, Warren, Waterboro, Waterville, Wells, Westbrook, Wilton, Windham, Winslow and Farmington, Winterport, Winthrop, Yarmouth, York and all other cities near me in ME - The Pine Tree State.
Also learn about Maine small business insurance requirements for general liability, business property, commercial auto & workers compensation including ME business insurance costs. Call us (207) 401-4779.