Business Property Insurance

Should You Install a Water Shutoff?

Posted on by Bob O'Brien

A water shutoff system can help avoid a common cause of building damage: water leaks. They aren’t cheap, but neither is water damage. Some insurers offer discount codes for these systems. Installing one may also qualify you for an insurance discount.

Water shutoff systems can minimize damage from plumbing leaks.

Water – The Most Common Property Insurance Claim

Most home and business owners worry about fire or theft damaging their property. But water damage is far more likely. According to Leak Defense, you are 7X more likely to have water damage than a fire. Moreover, water losses are 6X more common than burglaries.

There are 2 broad categories of water damage:

  • Weather related water damage such as: ice dams; wind-driven rain; or backup of sewers or drains.
  • Non-weather related water damage such as: plumbing leaks; tub overflows; or frozen pipes.

Water Damage is Expensive and Disruptive

Water damage is expensive. The average 2018 water damage claim for Hanover Insurance was $10,849. That’s just the water damage, not including the insurance deductible or the plumber’s bill to fix a leaky fixture. And costs have only increased since then. This Hanover Insurance infographic shows that buildings older than 20 years are more likely to have issues.

Water damage also disrupts your life or business. Hanover reported that the average length of impact from water damage to homes was 3 to 6 months. In severe cases, that can mean moving out of your home during repairs.

Water Shutoff Valves Can Minimize Losses

A water shutoff system does just what its name suggests. It monitors water flow in a building’s plumbing and automatically shuts off the water when it detects too much. It also alerts the building owner or manager so they can correct the problem.

The longer water flows from a leak, the more damage it causes. Shutting the water off quickly reduces the extent of water damage. That can be the difference between a minor mess and a major disaster.

How Much Do Water Shutoff Systems Cost?

Prices vary from building to building. For example, a professionally installed shutoff device in a home might cost $3,000 to $5,500. Commercial installations would cost more.

Sensor systems without shutoff valves can cost as little as $100 and you can install them yourself. However, low-cost sensors only alert you. They don’t shut off the water, which is so important to reduce damage.

Some insurance companies offer discount codes or special pricing for water shutoff systems. Check with your agent to see if your insurance company does this.

Insurance Discounts for Automatic Water Shutoffs

Many insurance companies offer discounts for customers who install automatic water shutoffs. Although the discount is only a fraction of the cost of the system, it helps offset the cost and rewards those who take this extra step to protect their property.

Not every system qualifies. Most insurers require:

  • Automatic water shutoff valve
  • 24/7 reporting to a monitored service
  • an approved vendor. This varies by insurance company. Check with your agent before you commit to install one.

Answers to Your Water Damage Insurance Questions

Do you own a home, condo or business in the Portland Maine area? Contact a Noyes Hall & Allen Insurance agent in South Portland. We offer a choice of Maine’s top personal and business insurance companies. That means we can search and compare for the best value for you.

We’re independent and committed to you.

Preventing Ice Dam Damage

Posted on by Bob O'Brien

Ice dam damage is a common problem in Maine and other cold weather areas. Learn the warning signs and how to prevent damage here.

ice dam damage is common in Maine and other cold weather areas

Icicles and Ice Dams

You can have icicles on your roof without an ice dam. They affect different parts of your roof. But icicles hanging from eaves and gutters are often a warning sign of an ice dam on the roof. Ice dams and icicles are both caused by the freeze – thaw cycle.

Icicles form when ice or snow melt from your roof and freeze on the edge. They can be very heavy. When they fall, they can damage property or injure people.

Ice dams occur when snow melts and then re-freezes on your roof. If melted water works its way under your roof shingles and refreezes, it expands. Ice can trap (or dam) water on the roof, causing it to pool and back into the building. The resulting roof leak can cause damage inside the building. Untreated, it can cause mold and rot.

Insulation and Ventilation Prevent Ice Dam Damage

Proper insulation and ventilation help prevent the freeze – thaw cycle that creates ice dams. The goal is to keep your roof cold.

Good insulation between the ceiling and roof is key. Pay particular attention to openings like vents and hatches. EfficiencyMaine is a great resource to learn more about insulating – and saving heating and cooling costs. You can even set up an energy assessment.

Ventilation is another key. Allowing cold air to circulate between the insulation and the roof keeps your roof cooler. That reduces the freeze – thaw cycle that causes ice dams.

Maintenance Tips to Prevent Ice Dam Damage

Good maintenance is another way to avoid damage from ice dams.

  • Clear leaves and debris from downspouts and gutters before winter.
  • Allow downspouts and gutters to flow freely. Keep them free of snow and ice.
  • Rake snow from your roof with a special roof rake. Roof rakes allow you to stand on the ground and clear your roof, reducing chance of a fall or other injury.
  • Never chop ice with any sharp tool or hammer. This can damage your roof!

Trouble Signs

Look for these signs that an ice dam may be forming:

  • Icicles.
  • Water damage on inside ceilings or walls.
  • Exterior paint damage.
  • Your roof is clear when your neighbor’s is snow-covered. This can be a sign that your insulation is inadequate.

Ice Dam Damage and Insurance

Your home or business property insurance may cover water damage caused by ice dams. Sometimes, roof shingles are undamaged by ice dams, but water leaks inside. Check with your insurance agent to see if your home, condo, renters or business policy covers ice dam damage.

If you live or have a business in Southern Maine, including Greater Portland, contact a Noyes Hall & Allen Insurance agent at 207-799-5541. Because we offer a choice of many insurance companies, we can compare options to find the right fit for you.

We’re independent and committed to you.

Market Value and Building Cost – How Much Insurance do You Need?

Posted on by Bob O'Brien

Market value and building cost are important factors for property owners. But only one really matters when buying insurance. Knowing which one can help you avoid buying too much – or too little – insurance.

Market value and building cost are both important to property owners. But only one matters for insurance.

Market Value and Building Costs – Both are High

Market values of real estate are at an all-time high. That’s no secret to anyone buying or selling property. Whether you believe we’re in a bubble or not, 2022 is clearly a seller’s market. Due to low supply and high demand, buyers are offering above asking price and making other concessions to get properties.

Building costs are also high in 2022. Although lumber prices are lower after a huge COVID spike, they remain at a historically high level. So do contractors’ labor rates. Prices for petroleum-based building materials are also sky high.

Market Value – What is It?

Simply put, real estate market value is the going price. The one a willing buyer and seller agree upon. Many factors go into market price. Among them:

  • Location (location, location)
  • Inventory of similar properties for sale
  • Features of the buildings
  • Acreage
  • Landscaping and other improvements

Building Cost vs. Reconstruction Cost

Building cost is different from market value. It’s also different from reconstruction cost.

Building cost includes:

  • Building materials (“sticks and bricks”)
  • Design or architectural work
  • Contractor labor and use of equipment

Reconstruction cost per square foot is often higher than building new. Some reasons for that include:

  • Constraints of working around existing landscaping and structures
  • Matching existing materials, design, etc.
  • Reduced economies of scale. Contractors often build several new homes at a time. This distributes the cost of equipment, materials and labor. A reconstruction job at one home doesn’t permit this kind of scale.

Insurance Doesn’t Cover Market Value

Market value includes land, earth moving, landscaping and hardscape. Insurance doesn’t pay for any of those things. Market value also includes outbuildings, fences, pools and other structures. Insurance lists those separately from main buildings.

Insurance Covers Reconstruction Cost

Insurance covers the cost to rebuild. Even after a complete disaster, a contractor may be able to use the excavation or foundation that remains. That’s why in highly desirable areas, insurance values are often less than the price you would pay to buy the property.

Can A Lender Make You Insure the Purchase Price?

Lenders are always concerned about protecting their interest in your property. But your building insurance amount may not match your loan amount. That’s OK.

By law, lenders cannot require insurance in excess of rebuilding costs for 1-4 family dwellings in Maine. If your insurance agent can prove that your policy covers 100% of reconstruction costs, your lender cannot require more insurance.

Your Insurance Agent – Your Advocate

An insurance agent should work with you to estimate the proper rebuilding cost of your property. They should also provide proof of insurance to your lender. Finally, they should advocate on your behalf if the lender pushes for insurance above the fair rebuilding cost.

Do you need to insure property in Southern Maine? Whether it’s in Greater Portland, Cape Elizabeth, Scarborough or anywhere in Cumberland, Androscoggin, Sagadahoc or York County, contact Noyes Hall & Allen Insurance in South Portland or call 207-799-5541.

We offer a choice of many insurance companies so we can help you find the best value. We’re independent and committed to you.

Water and Sewer Backup Insurance – What is It, and Do I Need It?

Posted on by Bob O'Brien

Water and sewer backup insurance coverage isn’t included in off-the-shelf homeowners or business policies. But backup of water is a very common cause of property damage in Maine. Therefore, we’re lucky that optional coverage is available and easy to buy.

water and sewer backup insurance can help with cleanup and repair

What is Water and Sewer Backup?

Water and sewer backup insurance covers backup from a sewer, drain or sump. Remember, it’s not covered by standard home or business insurance. In Maine, water backup is commonly caused by high groundwater level or a plumbing blockage or malfunction. For instance:

  • A sump pump fails, causing water to flood a basement
  • A check valve malfunctions, causing a backup of sewer or water
  • A sewer drain clogs, backing up wastewater

What Does Water and Sewer Backup Insurance Cover?

Coverage can be thought of in steps:

  • firstly, removal of water or sewage
  • secondly, drying and disinfecting
  • then, cleanup of waste or debris
  • finally, repair or replacement of damaged property

What’s Excluded?

Leakage or seepage through a foundation or slab isn’t considered water backup. Moreover, it’s not covered by any insurance form.

Leaking from plumbing or heating systems is often covered by homeowners or business policies. So it’s not included in water backup coverage.

How Much Does Water and Sewer Backup Insurance Cost?

Water backup insurance usually has a separate coverage limit. The minimum amount is often $5,000. Most companies’ offerings max out at $25,000. Cost varies by insurer and coverage limit. Prices start around $50 per year, and can be as high as $250. Business insurance policies are different. So check with your agent about coverage for your business.

How do I Choose a Water and Sewer Backup Coverage Limit?

First evaluate your exposure. How much damage would inches of water cause? For instance, do you have finished space in the lower level of your home? Do you store anything damageable there? Moreover, cleaning, drying and disinfecting often costs $5,000 or more. And that’s before repairing or replacing any damage. The average water damage claim is more than $11,000.

I Don’t Have a Sump Pump. Do I Need Water and Sewer Backup Insurance?

You can still suffer water backup without a sump, because water can back up from any drain or sewer in the lowest level of your home. However, if you have none of these, you probably don’t need water backup coverage.

I Have City Sewer and Water. Do I need Water and Sewer Backup Coverage?

Backup can occur from public utilities, private wells or septic systems. Above all, it matters whether you have a sewer, drain or sump, not what kind of services you have.

Need Help? Ask an Agent

In conclusion, water and sewer backup coverage can be an important addition to your insurance.

Do you live in Maine? Have questions about water and sewer backup insurance? Contact a Noyes Hall & Allen agent in South Portland at 207-799-5541. We offer a choice of many of Maine’s top insurance companies. In other words, we can help you find the best fit and value for your insurance. Because we’re independent and committed to you.

Business Insurance Inspection in Maine: What to Expect

Posted on by Bob O'Brien

Business insurance inspection is common in Maine. Commercial insurance companies routinely inspect businesses that they protect. Inspections allow them to make sure that they insure businesses that fit their guidelines and that their policyholders are adequately protected.

Is a Business Insurance Inspection Mandatory?

Inspections are expensive for insurance companies. They only perform them when they feel it’s necessary. Often, one of three conditions can cause an underwriter to order an inspection on your business:

  • You recently switched insurance to a new company. The new company wants to make sure that your business meets their underwriting requirements.
  • You recently had a claim. The insurance company may want to make sure that you have repaired any property damage or addressed the cause of a liability or workers comp claim.
  • Your business has expanded or moved. Businesses change, and so do their exposures to loss. Insurance companies inspect periodically to keep up.
  • The insurance company hasn’t inspected in several years. Things can change, even if your business stays about the same size and in the same place. The insurance company wants to make sure that your policy stays up to date in case they have to pay a claim.

inspectorCan I Opt Out of a Business Insurance Inspection?

Every insurance policy is a contract. Each policy has an “inspection clause”, which gives the insurance company the right to inspect your business with reasonable advance notice. If you refuse, it’s a violation of the contract. The insurance company can cancel your business insurance as a result.

Does the Insurance Inspector Need to Get Inside my Business?

Almost always. There are two types of insurance inspections: exterior only; and interior/exterior. The company underwriter decides which report to order based upon what they insure, your claim history, and other factors. Unless your property is a rented apartment building, the inspector will probably want to see all the areas.

What Does an Inspector Look For?

Insurance Inspector Should

Some inspectors are employees of the insurance company, but many are independent contractors. During a routine inspection, the inspector looks for features of your property or operation that can affect insurance claims. Items they typically inspect include:

  • Condition of roof, plumbing, electrical, HVAC and similar systems.
  • General property condition, paying particular notice to maintenance and general housekeeping.
  • Special hazards such as commercial cooking, chemicals, pollutants and machinery.
  • Controls and PPE to protect workers.
  • Dimensions of structures, so they can estimate the cost to rebuild them.

What Happens During a Business Insurance Inspection?

The inspector sends their report to the insurance company underwriter. If no deficiencies are noted, you will probably not hear from anyone. If the underwriter has concerns, they will ask you to address them. It’s important to pay attention and respond to these. Failing to do so can cause insurance price increases, or even policy cancellation.

If you have a question about Greater Portland Maine business insurance,  contact a Noyes Hall & Allen agent in South Portland at 207-799-5541. We offer you a choice of Maine’s preferred property insurance companies. We’re independent and committed to you.

Non-Admitted Insurance in Maine

Posted on by Bob O'Brien

“Non-admitted” insurance companies are not approved by the Maine Bureau of Insurance. But they play an important role in Maine’s insurance market. Non-admitted carriers are often called “surplus lines” or “excess lines” insurers. They take higher risks than admitted insurers. That comes at a cost. Here are the pros and cons of the non-admitted insurance market.

non-admitted insurance companies provide a valuable service, with some risk.

The Risk of Non-Admitted Insurance

  • Non-admitted insurance companies’ coverage forms are not approved by Maine regulators. Their customers don’t enjoy many of the Maine Insurance Code’s protections. But they are subject to federal regulation through the Dodd-Frank Act (.pdf, 800+ pages).
  • In case of insurer insolvency, the Maine Guarantee Fund does not apply. Even if a policy is active, claims might not be paid if the company goes bankrupt.
  • The Maine Bureau of Insurance doesn’t review or approve non-admitted insurance rates. They do with admitted insurers. Non-admitted insurers may charge what the market will bear.
  • Many non-admitted insurance policies have a “minimum earned premium” of 25% of the annual premium. Even if you cancel your policy right away, the insurer will keep 3 months’ premium.
  • Non-admitted insurers may add separate policy fees to premium. Those are usually non-refundable. They must add Maine surplus lines tax to the premium, too.

Non-admitted insurance is often more expensive and provides less coverage. That’s why Maine only allows non-admitted carriers to insure risks that admitted carriers refuse.

Non-Admitted Insurance Can be Valuable

Purchasing insurance from a non-admitted carrier isn’t ideal. But it is a valuable service.

  • Some protection is better than none. While non-admitted insurance coverage is restrictive, it can protect customers against catastrophe.
  • Non-admitted coverage can be a temporary solution. It can give you time to make improvements and qualify for insurance from an admitted insurer.
  • Most lenders will accept non-admitted policies as proof of insurance. Lenders require insurance from their borrowers in order to make a loan.

Be a Smart Insurance Consumer

Purchasing insurance from a non-admitted carrier can be risky. Since non-admitted insurers are not covered by the Maine Guaranty Fund, it’s important to research your insurer’s financial strength. But many non-admitted insurers have excellent A.M. Best financial ratings (.pdf). Ask your agent about yours.

Non-admitted insurance proposals list all applicable exclusions, warrantees and coverage forms. You should at least understand them, even if you can’t change them. Your agent should be able to explain them to you. If you’re a client, your Noyes Hall & Allen Insurance agent can answer questions about your insurance. We’re independent and committed to you.

3 Tips for Buying Portland Maine Business Insurance

Posted on by Bob O'Brien
Portland Maine business insurance doesn't have to be complicated

Buying Portland Maine business insurance doesn’t have to be complicated. If you own a business, it’s important to protect your asset with commercial insurance. These policies can protect your building and vehicles against liability, theft, fire and more.

Whether you just started a business or need to upgrade your existing commercial insurance, the team at Noyes Hall & Allen Insurance has put together this short list to help you get started. 

1. Find a Reputable Business Insurance Agent

Working with a friendly and reputable local insurance agent takes the hassle out of buying a new commercial insurance. They will ask you some questions to get a better understanding of what coverage you need.

Many Maine people prefer to do business locally. A good local agent knows the area, and what Maine’s unique hazards and opportunities. They can help you compare quotes, understand your coverage and bundle your policies. Check their online reviews to help you choose. 

2. Compare Several Quotes

It’s smart to compare three or more quotes during the commercial insurance buying process to find the right one. Go over each in detail with your reputable agent, asking questions for clarification as needed. Policies will differ on price and coverage so be sure to understand what you’re getting and for what price.

Fortunately, Noyes Hall & Allen Insurance offers a choice of 10 of Maine’s top business insurance companies. That means we can do the shopping and comparison for you, with one stop. 

3. Bundle Your Business Insurance Policies

If you need more than one type of insurance, consider bundling with one insurance company. For example, insuring your business vehicles and your property with the same company can simplify billing and save on your premiums.  

Own a Portland Maine Area Business?

Have insurance questions? Contact a Noyes Hall & Allen Insurance agent in South Portland at 207-799-5541. We offer a choice of  many insurance companies and have served the local business community for almost 90 years. We’re independent and committed to you. 

Adding Outside Dining to Your Portland Maine Restaurant

Posted on by Bob O'Brien

Portland and South Portland Maine recently passed ordinances expanding outdoor seating options for local restaurants. These respond to indications that coronavirus is less likely to spread outdoors. Soon, some local restaurants will be able to serve patrons :

  • on sidewalks
  • in parking lots or closed streets
  • in on-street parklets.

Transitioning a Restaurant to Outdoor Dining

Outdoor dining isn’t for every restaurant. Depending on your cuisine, location, formality and clientele, you may choose not to serve al fresco. If you do, here are some things to consider.

  1. Check city rules and resources. Portland and South Portland city web sites have the ordinances and applications for permits and street closures.
  2. Up your cleaning game. During the COVID threat, you’re already doing extra cleaning and disinfecting. Outside adds new cleaning challenges: pollen, dust, litter and even insects.
  3. Keep it light – and smooth. Make sure there’s enough light for employees and customers to see well. Paint or tape the edge of irregular surface levels. Avoid loose cords and other trip hazards.
  4. Watch the skies. That includes the sun. Plan your seating to avoid excessive sun exposure during meal service, if possible. Summer thunderstorms can develop fast. Have a plan to quickly evacuate your dining area and secure umbrellas and other furniture. That will help avoid injury and damage.
  5. Beware of vehicles. Create barriers between diners and vehicles – including bikes and scooters that might be on sidewalks.
  6. Watch outdoor flames. Keep propane heaters, cooking equipment and other heat sources away from flammables like fabrics and awnings.
  7. Check your insurance. Many liquor liability policies only cover you “on premises.” Does that extend to a parking lot or street? The same with property insurance for your outdoor seating and fixtures. Ask your agent about your insurance coverage.

Do you own a Portland Maine area restaurant, cafe, food truck, brewery or other food service business? Contact a Noyes Hall & Allen Insurance agent in South Portland at 207-799-5541. We’re local business owners, just like you. We offer a choice of Maine’s top business insurance companies. We’re independent and committed to you.

Does Insurance Cover Loss of Business from Coronavirus?

Posted on by Bob O'Brien

UPDATED 4/2/2020

COVID-19 (Coronavirus Disease), has everyone’s attention. It’s changed behavior around the world, and now it’s here. Business owners feel it. Emergency declarations have forced many to close for the duration.

For those businesses remaining open, routines and procedures are completely disrupted. No more non-essential shopping, eating at restaurants or going to shows. No going out for drinks or coffee. Instead, people are stockpiling supplies, staying home, washing, disinfecting and keeping their distance.

COVID-19 is causing turmoil for businesses large and small. Inventory control and staffing are all messed up. Marketing and sales are on hold as clients and prospects are otherwise occupied.

What if Your Business Suffers due to Coronavirus?

Many businesses feel threatened.

  • What if fear causes my customers to stay home?
  • What if I can’t get inventory or supplies?
  • How can I keep my employees safe?
  • What if my employees get sick and can’t work?
  • What if I have to disinfect or close my workplace?
  • The government has restricted movement in my area.
  • What if economic fear or market changes cause me to lose sales?

Do My Policies Cover Business Interruption?

Unfortunately, business insurance is very unlikely to cover you against lost business due to Coronavirus. Even policies that provide “”business interruption” coverage exclude damage caused by communicable diseases. They also require physical damage to your premises by a covered peril, like fire or water.

If Not, Why Not?

You probably don’t care about the reason behind the exclusion, but there is one. Put simply, diseases are too uncertain for insurers to accurately price insurance to cover them.

Insurance companies have a lot of experience with fires, hurricanes, and other disasters. They know how to price insurance for that, and they know that these perils are local or regional in scope. They can collect enough premium from everyone to pay for the few who suffer a loss.

Viruses are extremely rare – or even unknown – until they’re widespread. And it’s hard to quantify a resulting drop in business. Profits and sales are subject to changing factors: weather, competition, consumer preferences. It’s very hard to put a dollar value on lost sales directly caused by a public health threat.

Should I File a Business Interruption Claim Anyway?

Although the chances of coverage are very small, each business situation is unique . Coronavirus is new for everyone. Insurers are trying to deal with it just like everyone else. Coverage interpretations and response may evolve.

No one wants to file a claim, only to have it denied. But, you may choose to anyway. Here are two reasons why it might be a good idea to file a claim with your insurer.

  1. By contract, insurance companies must investigate each claim to determine if coverage applies. If they find that coverage does not apply, they must show the wording in your insurance policy that precludes it.
  2. The government could create a relief program in the future that might apply to your loss of income. Government could also force insurers to create coverage, in spite of policy wording. Such government actions would probably require you to prove your loss. You might also have to show that your insurance policy provided no coverage for the incident.

Resources for Small Businesses Affected by COVID-19

Congress passed the CARES Act in March, 2020 to help people and businesses weather the economic effect of Coronavirus. This Small Business Owners Guide to the CARES Act provides a good recap of the bill. It tells you how to apply for benefits, which are widespread. We encourage our affected clients to apply early if they’re affected.

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million. The goal is to help small businesses overcome a temporary loss of revenue.  These are loans, not grants. They must be repaid.

The Maine CDC Coronavirus information page is a good resource for Maine businesses and citizens. It contains factual and timely information about the disease and its effect on our state.

We’re Here to Help our Neighbors

We are a local business. We live and work in Greater Portland. While insurance may not be able to help our clients directly, we still want to be accessible. We want to help where and how we can.

While our office is closed to the public, we’re available by phone, email or our website. Our insurance company partners also continue serving customers while keeping their employees safe.

Stay Safe

Public health scares and economic uncertainty create anxiety. Most business owners feel responsible for the safety of their employees and customers, as well as their loved ones.

We hope that all or our clients, friends and business partners remain safe and calm during these trying times. We’re here to answer your insurance questions.

In this anxious season, check on family and friends. Be kind to each other. Together, we can make it through.

Natural Disaster Prep for Your Businesses

Posted on by admin

Natural disasters are on the rise, putting business owners at risk of suffering damage or loss of business property. A big disaster can literally put you out of business.

If you own a business in Maine, your customers and employees depend on you to prepare for the worst. Commercial insurance from Noyes Hall & Allen Insurance is one way to protect your business from disaster damage. Here are a few other ways to prep your small business for natural disasters.

Employee Disaster Readiness

  • Develop a plan for your employees, so they will know what to do in the event of a disaster.
  • Make sure that employees know who to contact and how to reach key personnel when needed.
  • Create an evacuation plan that employees can easily follow if they have to escape in a hurry.
  • Update new employees on disaster readiness so everyone is well-informed on what’s expected of them if disaster strikes.

Communicating with Clients after a Disaster

If your customers can’t reach you after a disaster, they may find someone else who can help. Don’t jeopardize your business. Have a plan to continue your operations, and let your customers know where to find you.

  • Have a plan in place to communicate with key clients after a disaster.
  • If your building is severely damaged, you may need to open a temporary location to continue operations. Thinking about possible options before disaster strikes can save valuable time following a disaster.

Protecting Essential Data after a Disaster

Make sure your primary data is backed up digitally to prevent loss in a disaster. This includes financial records, employee and customer information, and any other critical data you need to keep your business running. Cloud backup is the safest, most secure means of protecting essential data from natural disasters.

Commercial Insurance Coverage

Purchase adequate commercial insurance for your building, business equipment, and inventory. Just as important, be sure you have business interruption coverage. Many businesses have enough insurance to replace what they lose, but not enough to recover lost earnings. This can cause your business to fail.

Maine Business Insurance

For information on commercial insurance coverage and costs, contact Noyes Hall & Allen Insurance in South Portland, ME. We offer a choice of Maine’s top business insurance companies. We can help you find the right fit for your business. We’re independent and committed to you.