Maine Commercial Auto Insurance: Quotes From $33/mo

Table of contents

You may or may not know that it’s illegal in Maine to park in front of Dunkin’ Donuts, sell mercury thermometers in Freeport, feed a deer, and advertise your business or products in cemeteries. It is also illegal in Maine to drive without purchasing Maine commercial auto insurance. Doing so may cause you to be fined $100 to $500. Your Maine driving license may also be suspended, and your vehicle’s registration is considered void if officers find out you don’t have adequate commercial auto coverage in place. 

What is Commercial Auto Insurance

This is an indispensable commercial policy that protects you from any financial responsibility in the event your commercial vehicle causes or gets into an accident. Fire, theft, vandalism, and floods are the main perils covered under this policy. Rented or leased vehicles are not covered under this policy. Also, this policy doesn’t cover tools and equipment that are not permanently attached to your commercial vehicle.


Vehicles Covered Under Commercial Auto Insurance in Maine

Here are some of the commercial autos covered by this insurance. 

  • Taxis

  • Tractors

  • Tempos

  • Trailers

  • Vans

  • Box trucks

  • Auto rickshaws

  • Cubs

  • Excavators


Who Should Purchase Commercial Auto Insurance in Maine?

Various types of businesses and individuals in Maine should consider purchasing commercial auto insurance to protect their vehicles and operations. Here are different points explaining who should purchase commercial auto insurance in Maine:


Businesses With Employee Transportation

If you drive your employees to and from designated worksites using company vehicles, commercial auto insurance is essential. It provides coverage for potential accidents or injuries that may occur during employee transportation.


Courier Businesses

Owners of courier businesses who use vehicles to transport packages and goods should have commercial auto insurance. This coverage protects against accidents, damages to the delivered items, and liability claims arising from the delivery operations.


Food Delivery Companies

Owners of food delivery companies should consider commercial auto insurance. It provides coverage for accidents during food delivery, protects against damages to the delivered food, and helps cover liability claims in case of injuries or property damage.


Ride-Sharing or Ride-Hailing Companies

Commercial auto insurance is a must for owners or drivers working for ride-sharing or ride-hailing companies. Personal auto insurance typically does not provide coverage during ride-sharing activities, so commercial auto insurance ensures proper protection for the driver, passengers, and other involved parties.


Vehicle Use in Construction, Plowing, or Mining

Individuals or businesses that use their vehicles for construction, plowing, or mining operations should have commercial auto insurance. These activities involve specific risks, and commercial auto insurance covers damages, accidents, and liability related to these industry-specific tasks.


Cargo Transport

If you transport goods or cargo on behalf of third parties, commercial auto insurance is crucial. It provides coverage for damages to the cargo, accidents during transportation, and liability claims arising from the delivery of goods.


Towing Companies

Owners of towing companies should have commercial auto insurance to protect their tow trucks and cover any damages or liabilities that may occur during towing operations.


Auto Accident Statistics in Maine

Data retrieved from Maine Crash statistics show that every 17 minutes there occurs a crash in Maine. In every hour there occurs a fatal car crash. Auto accidents that cause property damage occur every 24 minutes a day. Motorcycles, pedestrian vehicles, trucks, and bicycles account for the largest number of vehicles involved in an accident in Maine. Most car crashes in Maine occur in winter from 4:00 p.m. to 5:00 p.m.


Maine Commercial Auto Insurance Requirements

Below are the statutory Maine commercial auto insurance requirements:

  • You must have a per-person bodily auto liability coverage limit of $50,000 per person

  • You must have a per-accident bodily injury auto liability coverage limit of $100,000

  • You must have a property damage auto liability coverage limit of $25,000

  • You must purchase a per-person uninsured motorist coverage limit of $50,000 per accident

  • You must purchase a per-accident uninsured motorist coverage limit of $100,000

  • You must have a medical payment coverage limit of $2,000 per person


Components of Maine Commercial Auto Insurance

Maine commercial auto insurance typically includes the following components:


Auto Accident Liability

If you cause third-party bodily injuries or property damages, your insurer will cater for these costs under this component. You are also exempted from incurring legal expenses in the event an affected party sues you.


Medical Payment Coverage

If you or the passengers traveling in your commercial vehicle sustain auto-related injuries your insurer will cater for your medical expenses up to a certain limit. Please note, that your medical expenses will be paid for regardless of who is at fault.


Collision Coverage

Provides coverage for damages caused by collision impacts. Examples of collision events covered under this commercial auto insurance Maine include hitting an electric pole, a coyote or deer, or another car. Your insurer will cater for the necessary expenses regardless of who is at fault under this component.


Comprehensive Coverage

Covers damages caused to your vehicle by fire, theft, vandalism, and some weather-related events such as floods and lightning. Damages resulting from natural calamities such as landslides are also covered under this policy.


Add-Ons to Maine Commercial Auto Insurance

There are several add-ons or optional coverages that businesses can consider to enhance their insurance protection. These add-ons include:


Roadside Assistance

With this policy you are exempted from incurring the costs associated with the provision of emergency services on your business vehicle if it breaks down while you are on the road. Such services include towing, battery jumpstart, fuel delivery, and flat tire change.


Excess Liability Insurance

Acts as an extra financial layer if your commercial auto insurance coverage limits get exhausted and you are still required to pay for a claim. For example, if you are found liable for paying $300,000 for third-party property damage and your commercial auto insurance auto liability for third-party property damage is 50,000, then you can use your excess liability limit to clear the outstanding $250,000.


Hired and Non-hired Auto Insurance (HNOA)

It provides coverage to personal, rented, or leased vehicles that are used for business purposes. This add-on does not cover the costs of repairing or repairing rented, leased, or personal vehicles. Instead, it protects you from incurring any legal expenses if you or your employee get sued by the affected party following an accident.


Inland Marine Coverage

Provides coverage for goods, equipment, or tools that your commercial vehicle transports by land. Damages resulting from theft, vandalism, fire, and some weather-related incidents such as lightning are covered under this add-on.


Key and Lock Replacement Coverage

This add-on compensates you for the cost you incur while replacing or repairing your vehicle’s key and lock if they get stolen, lost, or damaged on an attempted car break-in.


Personal Belongings Coverage

Also referred to as personal possessions insurance. This add-on provides coverage for items that you carry around in your vehicle. An insurer will cater for the costs of replacing or repairing your lost, stolen, or damaged personal items that were present in your car after you got into an accident.


Pollution Liability Insurance

This add-on exempts you from incurring land reclamation and clean-up costs if the products/materials you transport in your commercial vehicle cause gradual or sudden unintentional environmental pollution. This add-on also covers pollution-related third-party bodily injuries and property damages.


Tire Protection Cover

This add-on exempts you from incurring the cost of replacing or repairing your vehicle’s damaged tire(s) following the occurrence of an insured risk/peril.

Compare Cheap Commercial Auto Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Incidences When You Can Use Maine Commercial Auto Insurance

Maine commercial auto insurance can be used in various instances to provide coverage and protection for your business vehicles. Here are some situations where you can utilize Maine Commercial Auto Insurance:


Property Damage Liability

If your vehicle damages someone else’s property, you’re liable for repairs. Property damage liability coverage helps pay for repairs or replacement.


Bodily Injury Liability

You must pay for third-party injuries or deaths if you caused them. Your insurance policy’s bodily injury liability covers medical expenditures, rehabilitation costs, lost wages, pain and suffering, and other losses.


Lawsuits and Legal Defense

If a third party sues you after an accident you caused, your insurance company will defend you and pay the costs. Your policy covers attorney fees, court costs, and settlements.


Uninsured/Underinsured Motorist Coverage

If an uninsured or underinsured driver damages your vehicle, your insurance policy may include coverage for such situations. This coverage helps offset the repair costs and protects you from financial burdens caused by drivers without adequate insurance coverage.


Comprehensive Coverage

Comprehensive coverage safeguards your vehicle against damage caused by incidents not involving collisions, such as fire, vandalism, theft, natural disasters (like floods or landslides), and other specified events. It covers the expenses for repairs or the actual cash value of your vehicle if it is considered a total loss.


Why Should You Purchase Commercial Auto Insurance in Maine

Below are some of the top 4 reasons why you should purchase Maine commercial auto insurance:


Exempts You From Third-Party Liability

Your commercial auto insurance policy protects you from any third-party bodily injury or property damages liabilities you may be subjected to. Thus, you won’t have to incur any costs of compensating the affected third party if you are the at-fault driver.


Ensures the Continuity of Your Business Operations

Your commercial auto insurance policy ensures the continuity of your business operations by:

  • Vehicle repair or replacement: Pays to repair or replace business vehicles damaged in accidents or by covered risks like theft or vandalism

  • Liability protection: Covers personal harm and property damage from business vehicles. This protects your business from financial losses and lawsuits that could impede operations

  • Rental vehicle coverage: Commercial auto insurance may cover rental vehicles if your business vehicles are out of service due to repairs or other covered accidents

  • Loss of income coverage: Some commercial auto insurance policies cover loss of income or company interruption from automobile incidents


Catering for the Costs of Repairing Your Damaged Commercial Vehicle

Paying for you and your passengers’ medical expenses ensures that you get all the necessary medical attention, which in turn promotes fast recovery after an accident that sees you and your employees get back to your working capabilities.


Promotes the Growth of Your Business

Customers love to associate themselves with or solicit services from businesses that are financially prepared and stable. By purchasing your commercial auto insurance in Maine, your existing, new and potential customers will associate your business with financial stability and capability. This will in turn, lead to an increase in the number of customers you serve, which will consequently promote the growth of your business.


Maine Commercial Auto Insurance Cost

Maine commercial auto insurance is $128 per month or $1,530 per year for a $1 million auto liability coverage. Factors that affect the cost of premiums are claims history, business history, policy limits, and more. Here is a table showing the approximate monthly and annual cost for Maine commercial auto insurance as provided by some of the most reputable insurance carriers:

Cost per Month Cost per Year Best for
Thimble $63 $756 Maine business owners who operate on call or seasonally
The Hartford $118 $1,416 Established Maine business owners who own a fleet of commercial vehicles and need comprehensive commercial auto insurance coverage
Hiscox $125 $1,500 Maine business owners who use their commercial vehicles in high-risk areas
CoverWallet $147 $1,764 Commercial auto insurance online quotes comparison
Tivly $156 $1,872 Comparing commercial auto insurance quotes over the phone
NEXT $156 $1,872 Best overall; Fastest commercial auto insurance

It’s important to note that the provided monthly and annual costs of commercial auto insurance in Maine are subject to change depending on Maine’s economic conditions. Thus, these premium rates may increase or decrease.


How is Your Commercial Auto Insurance Policy Cost Determined?

Below are some of the factors that insurance companies use to determine/calculate your monthly and annual commercial auto insurance cost:

  • Deductibles in your policy–The lower your deductibles are, the more costly your premium rates will be. The vice versa is true.

  • Your demographic details–Age, marital status, and gender greatly influence your commercial auto insurance premium rate; for instance, if you are old, married, and a woman you will likely pay less for your commercial auto insurance policy than a young, unmarried, and male driver.

  • Your driving history–Your premium rates will be low if you haven’t received a traffic ticket, caused an accident, or violated any traffic rules for the last 3 to 5 years.

  • Your business geographical location–Your commercial auto insurance policy will be more costly if your business is located or if it operates in cosmopolitan areas. Individuals whose businesses are located or who work in the suburbs of Maine are likely to pay less.

  • Your vehicle’s mileage–Mileage is the miles your truck covers in a day, week, month, or year. The more your vehicle’s mileage, the more expensive your commercial auto insurance policy will be.

  • Your business operations–If you use your commercial vehicle to perform high-risk business activities such as transporting hazardous materials or construction, you are likely to pay more premium rates than a business owner who uses their commercial car to deliver flowers.

  • The type of car you want to insure–A person who wants to insure an SUV will pay less commercial auto insurance premiums than a person who wants to insure their commercial trailer.

Rank and Review Insurance Companies

Help others make better decisions

Show more

Best Maine Commercial Auto Insurance Companies

Here are some of the best commercial auto insurance companies in Maine. Read some of the reviews below to know their pros, cons, and average rate for $1 million auto liability coverage:


NEXT

Pros

  • Sells customizable policies

  • Coverage available in all 50 states

  • 10% discount on bundled policies

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest commercial auto insurance

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

Cons

  • Couldn’t find any 

Guy Goldstein, Nissim Tapiro, and Alon Huri founded NEXT. This A- AM Best independently rated insurer specializes in providing small business owners with customizable, competitively priced, and discounted commercial policies. Through its AI-powered website, NEXT provides its customers with under five minutes quotes and instant proof of insurance.

Best for: Best overall; Fastest commercial auto insurance

Average cost: $156 per month

Our rating: 10/10


The Hartford

Pros

  • Generates quotes under 10 minutes

  • Has over 200 years of insurance experience

  • It covers a wide range of businesses

  • Financial services available to its policyholders

Cons

  • Coverage options only available to AARP members

The Hartford is an online USA-based insurance company that was founded in 1810. The AM Best and the Better Business Bureau rate this insurance industry-leading insurer an A+ grade. As of today, The Hartford is ranked as the 13th largest property and casualty insurer in the USA. The Hartford sells personal and commercial policies. Both monthly and annual premium payment plans are available in all 50 states. This insurance company also provides its customers with add-ons to commercial auto insurance.

Best for: Established Maine business owners who own a fleet of commercial vehicles and need comprehensive commercial auto insurance coverage

Average cost: $118 per month

Our rating: 10/10


CoverWallet

Pros

  • You can retrieve your past insurance records from its website

  • Offers free and no-obligation quotes

  • Has partnered with multiple top-rated insurers

  • You can manage all your coverages in one location

Cons

  • Not an insurance company but an insurance broker 

CoverWallet is an AON PLC-owned insurance company that specializes in facilitating its customers with the acquisition of free quotes and business policies from its partnered insurance carriers. Its easy-to-use website enables customers to use its time-saving online tools to purchase and manage their insurance policies 24/7. Apart from providing its policyholders with Maine commercial auto insurance, Coverwallet also deals in general liability insurance, commercial property insurance, professional liability, business owner’s policy, workers comp insurance, professional liability insurance, and product liability insurance.

Best for: Commercial auto insurance online quotes comparison 

Average cost: $147 per month

Our rating: 10/10


Tivly

Pros

  • Provision of real-time analytics to better its customers’ experience

  • Small-business specialist

  • Fast online quotation process

Cons

  • Yet to introduce live chat

  • Not suitable for large enterprises

Tivly is an online insurance agency that specializes in matching its clients with commercial policies that best suit their business needs. This privately traded insurance agency is funded by the Aquiline Capital partners. Its headquarters are located in Norman, Oklahoma, USA. Through its website, policyholders across the USA can purchase and manage its customizable and competitively priced insurance policies. Call now and talk with a representative to compare quotes over the phone. 

Best for: Comparing commercial auto insurance quotes over the phone 

Average cost: $156 per month

Our rating: 9/10


Thimble

Pros

  • By the hour and day coverage options are available

  • You can purchase its coverage online by using its smartphone app

  • Its policies are customizable

  • Provides coverage to a broad range of enterprises

Cons

  • Refers its commercial auto insurance clients to Tivly

Thimble was previously known as Verifly. This USA-based insurance company was founded 7 years ago by Jay Bregman and Eugene Hertz. Initially, this online insurance company specialized in selling drone coverage. Through its partnership with top-rated insurers, Thimble has over the years facilitated its customers with the accusation of fast quotes and affordable, flexible, and scalable commercial policies in all 50 states.

Best for: Maine business owners who operate on call or seasonally

Average cost: $63 per month

Our rating: 9/10


Hiscox

Pros

  • Provides fast and excellent customer care services

  • Credible insurance provider

  • Provides worldwide coverage

  • Specialist in commercial insurance

Cons

  • Its range mostly benefits small-scale enterprises

Hiscox is an Anglo-Bermuda-based insurance company that was founded in 1901. The AM Best rates this global insurer an A, whereas the BBB rates Hiscox an A+ grade insurance company. General liability insurance, professional liability insurance, business owner’s policy, and cyber insurance are some of the commercial policies Hiscox provides to its clientele. Through its partnership with CyberPolicy, Hiscox offers its customers affordable and discounted commercial auto insurance policies. Please note that Hiscox will only give you a 5% discount if you purchase its bundled policies.

Best for: Maine business owners who use their commercial vehicles in high-risk areas

Average cost: $125 per month

Our rating: 9/10

Compare Cheap Commercial Auto Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Recent Reviews

Recent Posts


Additional Business Insurance posts