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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2024

Best General Liability Insurance in Indiana

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 Indiana.

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Coverage costs and company information for general liability insurance providers in Indiana were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

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.

How was this MoneyGeek score calculated?

Thimble90$22$59
Nationwide90$34$37
Next89$25$26
The Hartford89$31$50
Hiscox84$29$90
Best OverallScore: 90
Thimble
2/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

High ratings in financial stability

Cheapest provider for sole proprietors

Fast quotes

CONS

High average rate in Indiana for LLCs

Higher than normal complaint rates

Company Highlights

Thimble is our top pick for general liability insurance in Indiana, offering affordable rates and excellent financial stability. It is the cheapest for sole proprietors at $22 per month but is more expensive for LLCs at around $59 monthly.

Thimble makes getting general liability coverage quick and hassle-free. You can easily get a quote online in under a minute. It is important to note that it receives more customer complaints than other insurers we evaluated.

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.

How was this MoneyGeek score calculated?

CheapestScore: 96
Next
5/5LLC Affordability
4/5Sole Proprietor Affordability
0/5Customer Satisfaction
2/5Financial Stability
4/5Online Quote Process
PROS

Second-fastest quote time

Cheapest provider for LLCs and second-cheapest for sole proprietors

CONS

Lower financial stability ranking

Company Highlights

Next offers policies that are tailored to thousands of specific professions while keeping its rates affordable. Out of five insurers in Indiana, it has the lowest rate for LLCs averaging $26 per month and the second-cheapest rate for sole proprietors at $25 monthly.

Based on its A- (Excellent) rating from AM Best, Next has a lower score for being financially stable compared to other insurers in our study. Getting a quote online takes just over one minute with this insurer.

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.

How was this MoneyGeek score calculated?

Best for EmployersScore: 95
Nationwide
4/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Financially stable

Second-cheapest insurer at $37 per month

Top notch service quality, very rarely receives customer complaints

CONS

Slow online quote system

Company Highlights

Nationwide is Indiana’s best general liability company for LLCs, with its affordable rates, excellent service and good financial standing. Its policies average $37 monthly, the second cheapest in the state. It received the lowest complaint score, suggesting that it meets its policyholders’ expectations. Paying claims also won’t be a problem given Nationwide’s superior financial strength.

This insurer’s online quote system could be improved, as it takes over four minutes to get a quote. Can take some time to generate online quotes

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.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 95
Thimble
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Superior financial strength

Cheapest insurer at $22 per month

Fast online quote application process

CONS

Receives more customer complaints than other insurers

Company Highlights

Thimble ranks as the best general liability insurance company for sole proprietors in Indiana, offering the cheapest policies that cost around $22 monthly.

Thimble is also financially strong and stable, so it can pay policyholders’ claims. Sole proprietors who are always on the go can save time through Thimble’s fast online quote application, which takes under a minute to complete. However, with higher compliant ratios than other insurers we evaluated, the company’s customer satisfaction levels might be inadequate for some potential policyholders.

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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    Policy limits

    Choose a policy limit that matches the level of risk exposure of your business. Note that a policy with higher limits gives more protection, but you’ll also have to spend more. The lower your limits, the less your premiums will be. However, you may have to pay more out of pocket if you file a claim.

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    Number of employees and payroll costs

    The cost of general liability insurance is affected by how many employees you have and payroll costs. General liability coverage costs more for businesses with a higher employee headcount. For example, in Indiana, sole proprietors will pay around $28 monthly vs. LLCs with 20 employees that pay around $52 monthly.

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    Business location

    Where your business is located has an impact on the cost of general liability insurance. Insurers consider more populated areas as riskier to insure, so expect to pay more for coverage if your business is in a densely populated metropolitan area. For this reason, the statewide average rates in our study could vary significantly at the city level.

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    Claims history

    It’s important for business owners to avoid insurance claims through the use of proper risk management strategies. Coverage costs significantly less for businesses that had no previous claims than those that have filed claims before.

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    Industry

    Insurers consider certain industries (such as construction) as riskier to insure and charge more for coverage. Use the table below to find out how the average cost of general liability insurance in Indiana changes based on the business industry.

Software Development$28$52
Cleaning$70$1,333
General Contractor$164$2,510

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.

Which company has the best general liability insurance in Indiana?

Which company has the cheapest general liability insurance in Indiana?

What does general liability insurance cover in Indiana?

Does Indiana require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

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.


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