MoneyGeek ranked the best general liability insurance companies in Indiana by evaluating key factors such as cost, service quality, financial stability and the online quote process. Thimble topped our list, with policy costing $59 per month for limited liability companies (LLCs) with 20 employees and $22 per month for sole proprietors with no employees.

Next is the cheapest general liability insurer in Indiana. The average policy costs $26 per month for LLCs with 20 employees and $25 per month for sole proprietors with no employees.

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Best Overall General Liability Insurance in Indiana

Thimble is the best general liability insurance company in Indiana, earning a MoneyGeek score of 90 out of 100. Small business owners will appreciate its low rates and quick online quote process.

The table below shows our rankings of all providers in Indiana, along with their MoneyGeek scores and average premiums.

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Cheapest General Liability Insurance in Indiana

We found that Next is the cheapest general liability insurance in Indiana, offering policies at an average cost of $26 for LLCs and $25 for sole proprietors.

Insurance premiums vary based on how large a company is. In our analysis of cost, we averaged the monthly cost for LLCs and sole proprietors, so our winner might not be the cheapest for both business types.

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Best General Liability Insurance for Employers in Indiana

Employers in Indiana will find the best general liability insurance from Nationwide. This insurer received a MoneyGeek score of 95 out of 100 and offers policies at an average cost of $37 per month.

Our rankings in this category are based on the average monthly cost for LLCs with 20 employees. Employee headcount has an impact on the cost of general liability insurance. Expect your insurance to cost more than our average rate if you have more than 20 employees and less if you have fewer than 20 employees.

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Best General Liability Insurance for Sole Proprietors in Indiana

With a MoneyGeek score of 95 out of 100, Thimble is the best general liability insurance provider for sole proprietors in Nevada. Its policies cost approximately $22 per month.

Our rankings are based on the average premium for sole proprietors with no employees. Businesses in riskier industries like construction might be required to pay higher rates.

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Do You Need General Liability Insurance in Indiana?

Business owners aren’t required to purchase general liability insurance based on Indiana state law. Nonetheless, we still recommend it as a practical measure to protect your business against possible liability claims and its resulting financial loss. It also might be a prerequisite for getting a business license or winning a contract in some industries.

General liability insurance provides coverage for the following:

  • Third-party bodily injuries: Your policy will help pay for medical expenses if a customer sustains an injury within your business premises.
  • Third-party property damage: Your policy will cover the cost of damages to another person’s property that’s caused by your employees or your business.
  • Personal and advertising injury: Your policy will cover legal expenses and damages if an individual sues your business or your employees for copyright infringement, slander or libel.

Businesses in Indiana are required to have other types of business insurance. For instance, those with one or more employees are mandated by law to purchase workers’ compensation insurance and commercial auto insurance for company-owned cars at these minimum limits:

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

The Indiana Small Business Development Center provides free advice, referrals, training and useful tools and resources throughout the lifecycle of your business. With 10 centrally located offices, you can easily connect with an expert near you to guide you on your entrepreneurship journey.

How Much Is General Liability Insurance in Indiana?

In Indiana, general liability insurance costs an average of $52 per month for LLCs with 20 employees and $28 per month for sole proprietors with no employees.

These rates are for a policy that has a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible. The aggregate limit is the total maximum amount that an insurance provider will cover for all claims that are filed during the policy period, while the occurrence limit is the maximum amount that an insurer will pay per claim. The deductible is the amount of money that business owners have to pay out of pocket before their insurer starts paying its share.

Factors That Impact General Liability Insurance Costs in Indiana

General liability insurance varies in cost for each business depending on several factors:

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Frequently Asked Questions About General Liability Insurance in Indiana

The best general liability insurance company and coverage for you depends on your business needs and other factors. Below is the most useful information to help you shop for coverage.

Thimble ranked as the overall best general liability insurance in Indiana for its affordability and service quality. That said, the best provider for you may vary depending on factors such as your coverage needs, business size and employee count.

Next offers the cheapest general liability insurance for LLCs with 20 employees in Indiana. However, it only ranked second in affordability for sole proprietors with no employees. The cheapest option depends on how many employees you have, among other things.

In Indiana, general liability coverage typically covers third-party bodily injuries, third-party property damage and personal and advertising injury.

Businesses in Indiana aren’t required to purchase general liability insurance, but we recommend purchasing coverage as a practical way of protecting your business against the financial impact of third-party liability claims.

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.


sources
  • Indiana Small Business Development Center. "Our Services." Accessed May 9, 2023.