Table of Contents
- What is General Liability insurance coverage?
- Does Indiana require General Liability insurance?
- What small business might need General Liability insurance in Indiana?
- How much does a General Liability insurance policy cost in Indiana?
- How NEXT helps Indiana small business owners
What is General Liability insurance coverage?
Indiana is home to more than a half million small businesses that employ 1.2 million workers.1 All of these companies at the Crossroads of America could use a financial safety net to help keep them running after unforeseen accidents.
That’s why many small companies and self-employed workers in the state of Indiana purchase general liability insurance.
Also known as commercial general liability, this kind of small business insurance can help pay expenses if someone (other than an employee) claims that your company caused bodily injury, property damage, advertising injury or reputational harm.
In these situations, general liability coverage can assist with medical bills and the cost to repair or replace destroyed items. It can also help pay for an attorney to defend your business if you’re sued.
Does Indiana require General Liability insurance?
While Indiana does not mandate most businesses to carry general liability insurance, many small companies and sole proprietors know it can help protect them from out-of-pocket costs when things go wrong.
From general contractors in Bloomington to cleaning services in Elkhart and restaurants in Hammond, here’s what a general liability policy can help provide:
Licenses and permits
Some Indiana municipalities require certain trades to obtain proof of insurance to get a professional license. General liability insurance may be required to be licensed as a general contractor.
Financial safety
Indiana general liability insurance can help keep your business afloat after an accident. If you’re accused of causing personal injury, damaging someone’s property or if you have to defend your business in a lawsuit, it can help pay unexpected expenses.
Business opportunities
When you have commercial liability coverage in Indiana it demonstrates your professionalism. Some clients may ask for proof of insurance before they’ll let you bid on a project or hire you for a job.
Leasing property
A general liability policy can help you rent an office or commercial space. Many landlords require a certificate of insurance before they’ll rent to you.
What small business might need General Liability insurance in Indiana?
Some local governments require certain general contractors and trades to carry general liability insurance. Indianapolis2, Fort Wayne 3 and Evansville4 have such regulations. Be sure to check your municipality’s rules.
But slip-and-fall injuries and accidental property damage can be common in any line of work. Most businesses, from caterers in Kokomo to pressure washers in South Bend, will want to consider the help to cover costs after accidents and lawsuits around personal injury and property damage that general liability coverage can provide.
How much does a General Liability insurance policy cost in Indiana?
The majority of NEXT commercial general liability customers pay $25 to $45 a month.** Insurance carriers consider the following when pricing policies:
- Where your business is located
- The kind of work you do
- How many workers you employ
- Your past insurance claims
To know for certain how much you’ll pay, get a free general liability insurance quote from NEXT. It takes less than 10 minutes, and you’ll be able to purchase your policy online for immediate coverage.
You can also use our liability insurance calculator for a general estimate of insurance costs in Indiana.
How NEXT helps Indiana small business owners
Get a free quote online. If you like what you see you can purchase coverage and instantly share a certificate of insurance. It usually takes less than 10 minutes.
You can also chat with our Indiana–based NEXT licensed agents if you need help or have questions.
