Alaska Business Insurance
Customized protection for your Alaska business
Alaska business owners should consider several types of business insurance to protect from the financial and legal problems that can result from things like a customer slip and fall or an employee injury on the job.
Employing over 137,000 people, Alaska small businesses are an important part of the state’s economy. These businesses are required by Alaska law to protect their employees with workers’ compensation insurance.
Getting the right coverages for your business, from a BOP to workers’ comp, is simple with the Progressive Advantage® Business Program. Our licensed agents can help you customize a policy to your needs.
Types of AK business insurance
This is the most common business insurance coverage and nearly all businesses in Alaska should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.
This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.
Businesses in Alaska are required to have workers’ comp insurance if they have one or more employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.
Business Owners Policy (BOP)
A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property such as a storefront, warehouse or office building.
Alaska businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).
This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.
How much does business insurance cost in Alaska?
The cost of business insurance in Alaska is dependent on many factors, including your business’s coverage needs, location and size. For example, a business located in Juneau with two employees can expect a different rate than one in Anchorage with seven employees.
The most important factor to determining your business insurance rate is the type of work you do. Some professions are exposed to more risk than others and can expect to pay a higher rate because of it. For example, a tree trimmer who works high above the ground will have a different rate than a landscaper that works primarily at ground level.
Learn more about the factors that influence your business insurance rate.
Alaska business insurance requirements
Alaska state law requires businesses with one or more employees to carry workers’ compensation insurance. Certain professions are exempt from this law including sole proprietors, part-time babysitters and harvest helpers.
To learn more, or for any questions on if your business is exempt, visit the Alaska Labor and Workforce Development website.
Resources for Alaska small business owners:
Alaska professions we insure
We help small business owners from a wide variety of industries, including these common professions:
- Snow plow services
- Real estate agents
Browse more examples of professions we insure.
Why choose Progressive?
Options – We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts – As the #1 Commercial Auto Insurer in America*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience – There are several ways to get a quote whether you need a single Alaska policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.
Business insurance for all Alaska cities
We can customize business insurance in all Alaska cities, including, but not limited to:
*No. 1 commercial auto insurer from SNL Financial’s 2019 national written premium data.