Thimble is the overall best company for general liability insurance in Alaska, with average monthly rates of $66 for LLCs with 20 employees and $22 for sole proprietors. The cheapest company is Next. Its average monthly rates are $40 for LLCs having 20 workers and $25 for sole proprietors.

To identify the best general liability insurance in Alaska, MoneyGeek compared the prices, client satisfaction ratings and financial soundness of various providers. Your industry, employee count, location and other factors can influence the best insurer for you. It’s important to pay attention to your business needs when searching for insurance.

MoneyGeek Logo IconBest General LiabilityAlaska
2024

Best General Liability Insurance in Alaska

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 Alaska.

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

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Alaska

The best general liability insurance in Alaska is from Thimble, earning a MoneyGeek score of 87 out of 100. The table below shows our ranking of all companies in Alaska based on their respective MoneyGeek scores and average rates.

How was this MoneyGeek score calculated?

ThimbleMoneyGeek Score87Monthly Cost Without Employees$22Monthly Cost With 20 Employees$66
NextMoneyGeek Score84Monthly Cost Without Employees$25Monthly Cost With 20 Employees$40
Best OverallScore: 87
Thimble
1/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Most affordable option for sole proprietors

High financial stability rating

Get quotes quickly

CONS

Higher rates for LLCs with 20 employees

Low complaint score

Company Highlights

Thimble offers affordable rates for sole proprietors, with an average rate of $22 per month. However, it’s not the cheapest option for LLCs with 20 employees, as its average premium is $66 per month. It also has a high financial stability rating, which means it can fulfill its obligations in case you file a claim. You can also get a quote within seconds, making it easier for you to compare rates from different insurers.

Cheapest General Liability Insurance in Alaska

The cheapest general liability insurance in Alaska is from Next, which has an average monthly premium of $40 for LLCs having 20 workers and $25 for sole proprietorships. Other factors can affect rates, and Next may not necessarily have the cheapest rates. We primarily considered affordability and gave an equal weighting of 50% to the cost for both LLCs and sole proprietors to rank companies.

How was this MoneyGeek score calculated?

CheapestScore: 88
Next
5/5LLC Affordability
1/5Sole Proprietor Affordability
0/5Customer Satisfaction
2/5Financial Stability
4/5Online Quote Process
PROS

Cheapest option for LLCs with 20 employees

Get a quote in less than two minutes

CONS

Higher rates for single proprietors

Low financial stability rating

Company Highlights

Next provides low rates, particularly for LLCs with 20 employees. Although sole proprietors may find cheaper premiums from other companies, Next may still be a good option. Next has a somewhat efficient quote generation process, taking just over a minute to obtain a quote. If you’re in a rush to know the cost of your insurance or if you’re comparing rates, Next might be of huge help.

Next received the lowest score for financial stability, reflecting the insurer's uncertain ability to fulfill its responsibilities.

Best General Liability Insurance for Employers in Alaska

Next is the best general liability insurance for employers in Alaska. It has a MoneyGeek score of 91 out of 100 and an average monthly premium of $40. Our analysis for this category is focused on the average monthly cost for LLCs with 20 employees. Your employee count can determine your rates. A business with fewer employees can have cheaper premiums and vice versa.

How was this MoneyGeek score calculated?

Best for EmployersScore: 91
Next
5/5LLC Affordability
0/5Customer Satisfaction
2/5Financial Stability
3/5Online Quote Process
PROS

Affordable rates

Get a quote in a couple of minutes

CONS

Low financial stability score

Poor customer satisfaction

Company Highlights

Next offers the cheapest rates for LLCs with 20 employees. It might also be a good company to check if you're in need of a quick estimate for your insurance costs or if you're actively comparing rates since it has the fastest quote process out of the insurers we evaluated. You might only need two minutes to know how much your premiums will cost. Next has a low financial stability score, which could mean that it might have problems meeting its financial responsibilities to its clients. Next receives more complaints than the industry average, according to its low customer satisfaction score.

Best General Liability Insurance for Sole Proprietors in Alaska

Thimble secured the top spot for the best general liability insurance for sole proprietors in Alaska, with a MoneyGeek score of 95 out of 100. We analyzed the average costs for sole proprietors without employees and found that Thimble is the cheapest insurer, with an average monthly rate of $22. The cost of your policy depends on many factors, and sole proprietors engaged in high-risk industries might face higher premiums.

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

Cheapest rates for sole proprietors

Financially stable

Get quotes quickly

CONS

Low customer satisfaction rating

Company Highlights

Thimble offers the most affordable rates for sole proprietors, with an average monthly rate of $22. It can give you a quote in just 27 seconds, making it a good option for comparing quotes while you’re still shopping around. This company also has a high financial stability rating, indicating that it’s more likely to have the capacity to meet its obligations to its clients. Thimble received a low customer satisfaction score. This means it received more customer complaints compared to the industry standard, as per the NAIC index.

Do You Need General Liability Insurance in Alaska?

General liability insurance is not required for businesses, but it may be useful in some circumstances, such as acquiring business permits or securing contracts in particular industries. This insurance covers legal fees and claims, medical expenses and property damage. It’s a smart way of protecting your finances to avoid shouldering these expenses. It allows you to feel secure about your business funds in case of unforeseen circumstances, like property damage or liability from injury. You can avoid severe financial losses during trying times, especially if you have to pay thousands for legal claims or medical bills.

Certain types of business insurance are required in Alaska. Businesses with more than one employee need to have workers’ compensation insurance, although it’s subject to exceptions. Additionally, companies must have the following commercial auto insurance coverage limits:

  • $50,000 for bodily injury or death per person
  • $100,000 for bodily injury or death per accident
  • $25,000 for property damage per accident
smallBusiness icon
SMALL BUSINESS RESOURCES IN ALASKA

The Alaska Small Business Development Center offers workshops to help with business growth. They are available as on-demand videos or sometimes as live events.

How Much Is General Liability Insurance in Alaska?

The average monthly premium for general liability insurance in Alaska is $23 for sole proprietors and $53 for LLCs with 20 employees. These rates are based on a policy with a $2 million aggregate limit, $1 million per occurrence limit and $0 deductible.

The occurrence limit is the maximum amount of coverage for individual claims, whereas the aggregate limit is the maximum coverage of your insurance for the entire policy period. For example, your insurance can pay up to $1 million in the event of a claim. However, if you have several claims within a single year, your policy will only pay up to $2 million in total. The deductible is the sum that you need to pay out of your pocket before your insurance coverage begins to pay for a claim.

Factors That Impact General Liability Insurance Costs in Alaska

Many factors can impact the cost of general liability insurance for companies, and different companies will likely have varying rates.

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    Policy limits

    Higher coverage amounts can lead to higher rates because your insurer will have to pay more in the event of a claim.

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    Number of employees and payroll costs

    Having more employees and increased payroll costs may result in higher premiums. A smaller employee roster and lower payroll costs can result in cheaper premiums. The $30 monthly price difference in Alaska between sole proprietors and LLCs with 20 employees highlights this.

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    Business location

    Operating in high-risk areas raises your premiums because of the increased possibility of harm or accident. The average premiums we’ve collected may differ for every city.

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    Claims history

    Insurance companies may also look at the number of claims you have filed in the past. More claims could be a sign that you are high-risk, and this could raise the cost of your policy.

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    Industry

    Businesses in high-risk industries could receive higher rates because they’re more prone to physical injury liabilities. The table below shows the average cost of general liability insurance for cleaning businesses, software development companies and general contractors in Alaska.

CleaningMonthly Cost Without Employees$35Monthly Cost With 20 Employees$1,097
General ContractorMonthly Cost Without Employees$68Monthly Cost With 20 Employees$1,387
Software DevelopmentMonthly Cost Without Employees$23Monthly Cost With 20 Employees$53

Frequently Asked Questions About General Liability Insurance in Alaska

We addressed questions about general liability insurance in Alaska. Here are some questions you might ask when looking for an insurer.

Which company has the best general liability insurance in Alaska?
Which company has the cheapest general liability insurance in Alaska?
What does general liability insurance cover in Alaska?
Does Alaska require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


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