An employer with one or more employees generally needs workers’ compensation insurance. Vehicles subject to registration must carry motor vehicle liability insurance. Construction contractors have state liability insurance and bonding requirements. Other coverage may be required by a lease, contract, lender, or professional license.
FAQ_category: (HIDDEN) Industry FAQs
General liability insurance with a $1 million per-occurrence limit often costs about $25 to $50 per month for a small, lower-risk business. The final price depends on the industry, revenue, location, payroll, claims history, subcontractor use, and policy details. This range is not a guaranteed quote.
Alaska does not require every company to carry general liability insurance. Construction contractors must provide proof of public liability and property damage insurance for professional licensing. A landlord, lender, client, or project owner may also require coverage and limits that exceed state minimums.
https://www.commerce.alaska.gov/web/Portals/5/pub/con4954.pdf
Many businesses start with general liability or a business owner’s policy. The company may also need workers’ compensation, commercial auto, professional liability, cyber, inland marine, product liability, flood, wind, or umbrella insurance. The right combination depends on the company’s actual operations.
An independent contractor may need insurance to satisfy a customer, landlord, general contractor, or project agreement. Contractors commonly carry general liability and may also need commercial auto, tools and equipment coverage, workers’ compensation, or professional liability.