It's amazing, but some insurance salespeople would try to get a business located in an Arizona desert to buy flood insurance!

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There are many different insurance policies for small business owners to choose from today. Which insurance policies are right for your small business? This article dives in to the types of insurance available to small business owners and which ones you need.

There are some types of insurance that are not directly related to protecting your office and equipment. However, given that we are already discussing the subject of insurance, it is probably a good idea to mention them so that you can consider them as part of your overall insurance strategy. You may even be able to save money by purchasing one, or more, of the following as part of a package or "umbrella policy" with rest of your insurance:

Participating Policies. Participating policies are issued by mutual life insurance companies, that is, insurance companies that are owned by their policyholders, rather than by stockholders. Unlike nonparticipating policies, participating policies pay dividends.

When choosing from the types of liability insurance available, the small business owner may need specialized forms of liability insurance that will cover exclusions from a standard comprehensive general liability policy.

Life insurance is one of the most common employer-provided benefits. It is especially popular with employees who have dependents and with older employees who may have difficulty getting reasonably priced life insurance elsewhere.

A policy rider is a provision that is added to the basic coverage of an insurance policy, by agreement of the policyholder and the insurance company, often for additional cost. The double indemnity and the waiver of premium provisions are common policy riders.

Ideally, the small business owner will structure the business to limit liability and then execute strategies to avoid day-to-day liability risks CONTEMPORARY ART. As a result, it is hoped that claims will not be made or, if claims occur, the claimants will be unable to satisfy their claims from the business owner's personal or business assets. The asset protection strategies advocated throughout this small business guide are based on these principles.

Most employers offer group-term life insurance as an employee benefit, although other types can be offered. Term insurance is life insurance that is in effect for a certain period of time only. Generally, in the case of employer-provided term life insurance, the term is for as long as the employee is employed. Group-term life insurance can be offered to employees only, not to their spouses and children.