Updated: November 21, 2024
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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.
Best General LiabilityMaineBest 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.
Coverage costs and company information for general liability insurance providers in Maine were last updated in 2023.
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?
MoneyGeek used the following weights to rank the best general liability insurance in Maine:
MoneyGeek used two business profiles to gather general liability quotes:
| Thimble | 92 | $22 | $53 |
| Nationwide | 90 | $32 | $41 |
| The Hartford | 88 | $31 | $53 |
| Next | 87 | $26 | $35 |
| Hiscox | 83 | $29 | $90 |
Cheapest average rate in Maine for sole proprietors
High financial stability ratings
Easy and fast online quote systems
Expensive than most competitors for LLCs
Higher than average customer complaints
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.
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?
MoneyGeek used the following weights to find the cheapest general liability insurance in Maine:
Cheapest average rate in Maine for sole proprietors
High financial stability ratings
Fast online quote systems
More expensive than most competitors for LLCs
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.
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?
MoneyGeek used the following weights to find the best general liability insurance for employers in Maine:
Affordable rates for LLCs
Financially stable
Good customer service
Slow online estimates
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.
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?
MoneyGeek used the following weights to find the best general liability insurance for sole proprietors in Maine:
Affordable premiums
Financially stable
Quick quotes
Poor customer complaint score compared to other insurers
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.
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:
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:
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.
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.
The following factors determine the cost of your general liability insurance:
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.
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.
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.
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.
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 Contractor | $114 | $1,975 |
| Software Development | $28 | $55 |
| Cleaning | $41 | $1,043 |
To provide you with more helpful information, we have answered some frequently asked questions about general liability insurance in Maine.
Thimble stands out as the best provider that offers affordable and high-quality general liability insurance in Maine. It offers excellent rates and financial stability. The best insurer for you will vary based on your business size, how many employees you have and more.
Thimble scored the highest for affordability, offering the cheapest general liability insurance in Maine for LLCs with 20 employees in Maine. However, prices and the best insurer for you can vary based on your company’s unique profile.
When you buy general liability insurance in Maine, it typically covers third-party bodily injuries, third-party property damage and personal and advertising injury.
Although optional, purchasing general liability insurance is a smart way to financially protect your business against liability claims from third parties.
About Melissa Wylie
Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.
Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.
