Best General Liability Insurance in Indiana (2023)

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.

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.

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.

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.

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.

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

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.

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

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.