If there is an incident, you could get $1,500 from the airline. The tricky part is to survive it.
I had a puddle jumper airline flight from the midwest to Dallas a few years ago. The plane had to divert because of pressurization alarms. We had a six hour delay for another plane to show up. I got 10K miles accredited to my miles account. If I was an Alaskan mileage customer I would expect a bit more in the way of compensation..