Indiana Business Insurance

General liability coverage is usually a critical part of business insurance in Indiana.

If someone alleges that your company’s actions caused injury or property damage, general liability coverage will help pay for medical expenses and the cost of repairing and replacing property. In the event of a lawsuit, general liability insurance helps cover court costs, attorney fees and damages for which you are held liable.

General liability insurance would apply in this situation:

An employee of an Indianapolis-based construction company accidentally drops a piece of lumber on a busy street, injuring several pedestrians who require a trip to the emergency room. General liability coverage helps the construction firm cover the pedestrians’ medical bills, as well as a portion of legal costs if the injured persons sue.

That same construction company might add tools and equipment insurance to its general liability coverage. This coverage upgrade, which also applies to cleaning businesses, helps pay to replace or fix equipment that is stolen, lost or damaged.

With a few exceptions, small businesses with employees in Indiana must carry workers’ comp insurance.³

Employees who suffer job-related injuries often need medical care and time to recover. This is where workers’ comp coverage comes into play.

For instance, an employee of a roofing company in Fort Wayne falls during a job and breaks an arm. Workers’ compensation insurance helps the injured employee cover medical bills and physical therapy costs. It also allows the employee to recover some lost wages while unable to work.

Indiana law requires businesses that own vehicles to purchase automobile insurance coverage with minimum damage amounts of $50,000.⁴ 

Personal auto insurance typically won’t pay for accident damages that occur when someone is driving a vehicle titled to a business. This is why Next often recommends commercial auto insurance as part of business insurance packages in Indiana.

For example, an employee at a small Evansville market wrecks a company car after delivering groceries to a customer and needs medical attention. Commercial auto coverage helps the business owner pay for the costs of injuries to the worker and other drivers, as well as vehicle damages.

Hired and non-owned auto insurance is a type of policy that covers damages from accidents that happen when employees occasionally drive their own cars for work or rent vehicles. If you’re shopping for business insurance in Indiana, you can add this coverage to your package.

Note that commercial auto insurance costs depend on a number of factors, including your company’s location, employee driving records and claims history.

Businesses in any industry could stand accused of making a professional error that costs someone else money.

In such situations, professional liability coverage, also known as E&O insurance, offers crucial protection.

For instance, a client claims that a Bloomington-based landscaping company failed to appear for an important job for which it had already been paid. E&O coverage helps the business reimburse the client for the incomplete work and would partially cover legal expenses in the event of a lawsuit.