NEXT tops our analysis of Alaska business insurance providers because of its strong customer service and comprehensive coverage. Simply Business and Coverdash are also reliable options for small business owners across the state.
Business Insurance in Alaska
NEXT tops our Alaska business insurance rankings with a MoneyGeek score of 4.64 out of 5.
Find affordable coverage that protects your small business in Alaska below.
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Updated: August 26, 2025
Advertising & Editorial Disclosure
Key Takeaways
Small business owners can get the best business insurance in Alaska from NEXT, Simply Business and Coverdash.
The best business insurance in Alaska depends on your industry risks, employee count and preferred coverage limits.
To find the best coverage, assess your risks, compare multiple quotes, research provider service quality and maximize available discounts.
Best Business Insurance Companies in Alaska
| NEXT | 4.64 | 2 | 1 | 2 |
| Simply Business | 4.49 | 3 | 3 | 1 |
| Coverdash | 4.41 | 4 | 4 | 2 |
| biBerk | 4.39 | 5 | 2 | 3 |
| Progressive Commercial | 4.33 | 2 | 5 | 3 |
| Thimble | 4.31 | 1 | 6 | 3 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best by Coverage Type
NEXT offers the best general liability coverage, business owner's policies (BOP), professional liability insurance and workers' compensation insurance for local businesses.
| Business Owners Policy | NEXT | 4.64 |
| General Liability | NEXT | 4.58 |
| Professional Liability (E&O) | NEXT | 4.70 |
| Workers Compensation | NEXT | 4.62 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best Alaska Small Business Insurance Reviews
We analyzed business insurance providers across Alaska to identify the three most reliable options for small business owners. Our research reveals what makes each company excel at protecting local enterprises.
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.5/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$94This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$63This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5National Ranking: #4Our Survey: Likely to Be Recommended to Others
4.8/5National Ranking: #1
Simply Business
Best for Coverage
MoneyGeek Rating
4.5/ of 5
4.5/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$83This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$70This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
4.5/5Our Survey: Likely to Be Recommended to Others
4.5/5
Cheapest Business Insurance Companies in Alaska
Thimble provides the most affordable business insurance in Alaska with rates of $86 monthly ($1,029 annually). Simply Business and Progressive Commercial follow closely behind, offering coverage at $89 and $90 per month respectively. You can compare all providers and their rates in the table below.
| Thimble | $86 | $1,029 |
| Simply Business | $89 | $1,063 |
| Progressive Commercial | $90 | $1,084 |
| NEXT | $91 | $1,097 |
| Coverdash | $92 | $1,108 |
| biBerk | $96 | $1,150 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest General Liability Insurance Companies in Alaska
The Hartford offers the cheapest general liability coverage in Alaska at $75 per month. Simply Business ranks second with monthly premiums of $88. Compare rates from all general liability insurance providers in the table below.
| The Hartford | $75 | $898 |
| Simply Business | $88 | $1,053 |
| Nationwide | $89 | $1,066 |
| Progressive Commercial | $92 | $1,099 |
| NEXT | $94 | $1,133 |
| Coverdash | $95 | $1,137 |
| Thimble | $98 | $1,181 |
| Hiscox | $105 | $1,257 |
| biBerk | $105 | $1,258 |
| Chubb | $109 | $1,307 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Professional Liability Insurance Companies in Alaska
NEXT offers the most affordable professional liability insurance (E&O) at $67 monthly ($801 annually). Progressive Commercial provides another budget-friendly option for Alaska businesses.
| NEXT | $67 | $801 |
| Progressive Commercial | $69 | $825 |
| Simply Business | $70 | $840 |
| Thimble | $70 | $842 |
| Coverdash | $71 | $852 |
| biBerk | $73 | $881 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability/errors and omissions policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Workers’ Comp Insurance Companies in Alaska
NEXT offers Alaska's cheapest workers' comp coverage at $63 monthly ($755 annually). Progressive Commercial and Thimble also provide competitive rates, making these solid choices for affordable business coverage in the state.
| NEXT | $63 | $755 |
| Progressive Commercial | $64 | $770 |
| Thimble | $64 | $774 |
| Simply Business | $65 | $780 |
| Coverdash | $66 | $798 |
| biBerk | $69 | $825 |
| Chubb | $78 | $931 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest BOP Insurance Companies in Alaska
Thimble offers the cheapest BOP rates in Alaska, with an average monthly cost of $110 ($1,317 annually). Business owners can also find affordable BOP insurance with Simply Business, biBerk and Progressive Commercial.
| Thimble | $110 | $1,317 |
| Simply Business | $131 | $1,578 |
| biBerk | $136 | $1,637 |
| Progressive Commercial | $137 | $1,641 |
| Coverdash | $137 | $1,644 |
| NEXT | $142 | $1,698 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP policies. Survey results reflect limited sample data and may not represent all available rates in your area.
How Much Does Business Insurance Cost in Alaska?
Business insurance in Alaska ranges from $65 to $132 monthly, with workers' compensation being the most affordable and business owner's policies the most expensive. Rates vary based on the coverage type your business needs.
| BOP | $132 |
| General Liability | $95 |
| Professional Liability (E&O) | $70 |
| Workers Comp | $65 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cost of Business Insurance by Industry and Coverage
Business insurance costs in Alaska vary significantly by industry and coverage type. Our research shows speech therapists pay just $5 monthly for workers' compensation, while pressure washing businesses pay $1,162 monthly for a business owner's policy.
Data filtered by:Results filtered by:
Select
Coverage Type:Business Owners Policy
Select
Industry:Accountants
| Accountants | Business Owners Policy | $29 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
What Factors Influence My Costs?
Several key factors influence your Alaska business insurance premiums. Here's what affects your insurance costs in the state:
Industry Risk Level
Your business type drives insurance costs in Alaska. Commercial fishing operations and construction companies pay higher rates than consultants because insurers see more workplace accidents in these industries. A construction company might pay $500 monthly for coverage, while an accounting firm pays closer to $50.
Geographic Location and Weather Risks
Alaska's unique geography and climate impact insurance costs. Remote locations pay more due to limited access to services, while coastal areas face higher rates from flooding risks. According to National Weather Service data, Alaska leads the nation in earthquake frequency and severe winter storms, pushing insurance costs higher than the national average.
Business Size
Your workforce size directly affects insurance costs. Workers' compensation rates increase with each $100 of payroll, while liability coverage costs rise with higher revenue and customer traffic. A fishing boat with six crew members pays substantially more than a solo freelance graphic designer.
Claims History
Your claims record affects rates across all coverage types. Filing multiple claims can increase your premiums by 20% or more. Insurance companies reward Alaska businesses that maintain clean records with lower rates and better coverage options.
Coverage Types and Limits
Your coverage choices shape your premium costs. While higher limits increase rates, Alaska businesses can save money by bundling coverages through a Business Owner's Policy. This package typically combines property, liability, and business interruption coverage at a lower cost than buying separate policies.
Years in Business
New Alaska businesses pay more for coverage because insurers lack data to assess their risk level. Operating for three or more years with no claims typically leads to premium reductions of 10% to 25% as you build a solid safety record.
Professional Certifications
Safety certifications and professional licenses can reduce your insurance costs. Alaska businesses with OSHA safety certifications often qualify for premium discounts up to 15%. Industry-specific credentials show insurers you follow best practices for risk management.
Alaska Business Insurance Buying Guide
Running a business takes most of your attention, and getting business insurance shouldn't add to your workload. Our straightforward guide breaks down everything Alaska business owners need to know about coverage options and requirements.
What Coverage Is Required?
Alaska business insurance requirements vary by industry. Here's what your business needs:
- General contractors: $25,000
- Residential contractors: $20,000
- Specialty/mechanical contractors: $10,000
- Handymen: $5,000
Workers' Comp
Required for any business with one or more employees, including part-time workers, family members, and friends who work for you. Alaska has no small business exemptions. Unlike most states, Alaska requires coverage with just one employee. Penalties are severe: $1,000 per employee per day without coverage, plus potential business shutdown and criminal charges up to $10,000 and one year in prison. The average cost is $229 per month. Alaska doesn't accept out-of-state policies, so you need Alaska-specific coverage.
Commercial Auto Insurance
All business vehicles must carry minimum liability coverage of 50/100/25, higher than most states' requirements. This means $50,000 for body injuries per person, $100,000 for body injuries per accident, and $25,000 for property damage. Passenger-carrying vehicles need $500,000 bodily injury and $200,000 property damage coverage. Personal auto policies exclude business use, so you need separate commercial coverage for work-related driving.
Contractor Bonds
Depending on license type, most contractors need surety bonds ranging from $5,000 to $25,000. Specific requirements include:
Bonds aren't insurance; they protect customers if you don't complete work properly. Bonds cost 1% to 10% annually based on your credit score. Poor credit doesn't disqualify you, but increases costs.
Contractor Insurance Requirements
Licensed contractors must maintain specific insurance minimums: $100,000 general liability per occurrence for residential work, plus workers' compensation if you have employees. Additional liability requirements include $50,000 for injury/death per person, $100,000 for multiple injuries, and $20,000 for property damage. Many contractors need higher limits for larger projects. You must provide proof of insurance to maintain your license; lapses result in immediate license suspension and stop-work orders.
Professional Liability Requirements
Attorneys must carry malpractice insurance with minimum limits of $100,000 per claim and $300,000 annual aggregate, or notify clients in writing of no coverage. Real estate agents and brokers must carry errors and omissions insurance to maintain their licenses. Other professionals providing advice or services may need E&O coverage depending on their licensing board requirements. The average professional liability costs $101 per month.
What Coverage Do We Recommend?
Alaska keeps business insurance requirements minimal, leaving you to make smart coverage choices. Our analysis shows the best insurance options for the state's key industries:
Marine | Marine general liability, hull and machinery, protection and indemnity, commercial fishing vessel, crew coverage, pollution liability, catch coverage, business interruption | Alaska's fishing fleet operates in some of the world's most dangerous waters. Vessel accidents, crew injuries, and catch losses from equipment failure create substantial liability exposure. Seasonal operations amplify financial risks during prime fishing periods. |
Construction/Contractor | General liability, workers' compensation, commercial auto, equipment coverage, builder's risk, environmental liability, cold weather coverage, business interruption | Alaska construction faces permafrost challenges, extreme cold equipment failures, and short building seasons. Remote construction projects have limited emergency response, making equipment breakdown and worker injury coverage critical for project completion. |
Food | General liability, commercial property, business interruption, spoilage coverage, commercial crime, cyber liability, equipment breakdown, supply chain interruption | Alaska food businesses face supply chain disruptions from weather and transportation delays. Remote locations have limited backup suppliers, making spoilage and business interruption coverage essential for maintaining operations during emergencies. |
Veterinary | Professional liability, general liability, cyber liability, commercial property, medical evacuation coverage, emergency transport coverage, equipment coverage, business interruption | Alaska veterinarians serve vast remote areas with limited specialist access, increasing malpractice exposure. Emergency animal evacuations and extreme weather equipment damage create unique liability concerns for rural veterinary practices. |
Excavation | General liability, workers' compensation, commercial auto, equipment coverage, environmental liability, permafrost coverage, cold weather operations, underground utility damage | Alaska excavation companies face permafrost complications, underground utility damage, and extreme weather equipment failures. Environmental liability from disturbing contaminated soils and seasonal access limitations create specialized coverage needs. |
Retail | Professional liability, general liability, cyber liability, workers' compensation, animal bailee coverage | Alaska retailers face extreme supply chain vulnerabilities from weather-related transportation delays. Heating system failures can damage inventory and force closures, while remote locations make emergency repairs costly and time-consuming. |
Welding | General liability, workers' compensation, commercial auto, equipment coverage, cold weather operations coverage, fire damage liability, completed operations coverage | Alaska welding operations face extreme cold equipment challenges, increased fire risks from heating requirements, and transportation difficulties to remote job sites. Cold weather affects welding quality and creates specialized liability exposure. |
Courier | Commercial auto, cargo coverage, general liability, workers' compensation, extreme weather coverage, aircraft liability, emergency response coverage | Alaska courier services rely on aircraft and snow machines for remote deliveries, creating unique liability exposure. Extreme weather delays and emergency rescue operations increase operational costs and liability risks. |
How to Get the Best Cheap Business Insurance in Alaska
Running a small business in Alaska comes with unique insurance challenges. These practical steps will help you find the right coverage while managing your insurance costs.
- 1
Assess Your Actual Risks First
Evaluate real risks specific to your Alaska business operations, not generic coverage suggestions. A fishing charter business needs strong marine liability coverage, while a Fairbanks retail store focuses on property and inventory protection.
- 2
Get Quotes from Multiple Insurers
Insurance costs vary significantly among carriers serving Alaska businesses. Contact at least three providers who understand local business requirements and compare their offerings for the best value.
- 3
Choose Providers Based on Service Quality
Research insurer ratings, claims processing speed, and Alaska business expertise. An Anchorage construction company needs an insurer familiar with extreme weather risks, while a tourism operator wants coverage for seasonal operations.
- 4
Maximize Available Discounts
Combine compatible policies and maintain good safety records to reduce costs. An Alaska trucking company can save by bundling commercial auto with general liability and documenting winter driving safety protocols.
- 5
Review Coverage Annually
Business needs change with growth and seasonal shifts in Alaska. A small lodge expanding into wilderness tours needs additional liability coverage, while a growing retail business requires increased property protection.
Alaska Business Insurance: Bottom Line
Based on our analysis, NEXT, Simply Business and Coverdash are Alaska's best business insurance providers. However, what's ideal for you depends on your business risks and employee needs. Research each company's service quality, maximize discounts and select coverage that fits your budget.
Small Business Insurance in Alaska: FAQ
Finding the right business insurance in Alaska raises many questions for small business owners. Below, we answer the most frequently asked questions:
What business insurance is required by law in Alaska?
Workers' compensation insurance is required in Alaska if you have employees. Commercial auto insurance is mandatory for business vehicles with minimum limits of $50,000/$100,000/$25,000. General liability coverage isn't legally required but is highly recommended.
How much does business insurance cost in Alaska?
Business insurance in Alaska ranges from $65 to $132 monthly. Workers' compensation costs $65 monthly, while Business Owner's Policies run $132. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Alaska?
Thimble offers the lowest rates at $86 monthly in Alaska, followed by Simply Business ($89) and Progressive Commercial ($90). Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in Alaska?
Begin with general liability insurance to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for company vehicles. Food service businesses need property coverage, while contractors require equipment protection.
What is the best business insurance company in Alaska?
NEXT leads Alaska's business insurance market with a 4.64 out of 5.0 rating. Simply Business and Coverdash are also excellent choices. Compare multiple providers to find coverage that matches your business requirements.
Do small businesses in Alaska need workers' compensation insurance?
Yes, Alaska businesses with employees must carry workers' compensation insurance. Only sole proprietors without employees can opt out. Most businesses choose coverage to protect against workplace injury claims.
What factors affect business insurance costs in Alaska?
Your industry is the primary cost factor. Construction businesses pay higher premiums than retail stores. Location affects rates, particularly in coastal regions. Employee count impacts workers' compensation costs, while claim history and safety measures influence rates.
How do I get cheap business insurance in Alaska?
Compare quotes from multiple insurers like NEXT and Simply Business. Assess your specific coverage needs, bundle policies and implement safety programs to secure better rates.
What's the difference between general liability and errors and omissions (professional liability) insurance in Alaska?
General liability insurance covers property damage and physical injuries at your business. Professional liability (E&O) covers financial losses from service mistakes, poor advice or missed deadlines.
Can I get business insurance quotes online in Alaska?
Yes, top insurance providers offer online quotes in Alaska. Have your business details ready for accurate quotes, though complex businesses like contractors may need an agent for specialized coverage.
How We Scored the Best Business Insurance Companies in Alaska
Small business owners in Alaska need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Alaska entrepreneurs navigate unique challenges and insurance requirements.
We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): Rates make up half our score since cost directly impacts business profitability. We analyzed premiums across multiple coverage types and industry classifications.
- Customer experience (30% of score): Claims handling, customer service quality and digital tools determine this score based on our satisfaction data analysis and direct testing.
- Coverage options (15% of score): We evaluated the range of coverage types, limits and endorsements available to protect different business needs.
- Financial strength (5% of score): To ensure reliable claims payment, insurers must demonstrate stable financials through strong ratings from independent agencies.
This approach helps Alaska small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- Trustpilot. "NEXT." Accessed August 26, 2025.
- Trustpilot. "Simply Business US." Accessed August 26, 2025.
- National Weather Service. "Alaska Region HQ." Accessed August 26, 2025.