Bonds Now Available Through Bullfrog!

bond-insurance

Everyone at Bullfrog is very excited to announce that we now offer bonds! Depending on your industry regulations and the operations of your small business, there may be a point in time when you might need a bond for your small business.

Not sure what a bond is?  Bonds are essentially a guarantee that your small business will carry-out its performance and meet a regulatory or financial obligation to your clients/fellow businesses. Depending on your industry regulations and the operations of your small business, there may be a point in time when you might need a bond and Bullfrog is now ready to help you get the right bond for your business.

At Bullfrog, we understand that obtaining a bond for your small business can be a confusing process, which is why we have created a simplified quoting form to make the process easier. After selecting the bond needed and filling out the quoting form, one of our broker will call you directly to confirm your bond option and answer questions you may have.

 

Click HERE for a full listing of the bonds offered through Bullfrog Insurance.

 

Should you have any questions regarding our bonding options available or would like more generalized information on bonds, our Bullfrog Insurance brokers would be happy to help you out.

Confusing Insurance Lingo Explained: Part 1

insurance-101

 

We agree with you – insurance can be really confusing. With all the lingo and various terms used within the industry, and documents available to you, we understand why one might find them self confused . No worries though, we are here to help demystify the beast that is insurance!

It’s important to note that understanding various terms and elements of insurance is a huge leap forward towards better protecting your small business. How exactly? This allows you to be more informed on what your small business insurance policy covers and what it may not cover in the event of a claim. By being informed, you are better protecting your business, your employees, and your bottom-line.

Here are some common insurance terms you may have come across or seen in your previous and/or current insurance policy:

 

Actual Cash Value.

The cost of buying an item that is the same age and condition of your existing item, meaning that the depreciation is factored in.

 

Additional Insured.

A person or organization that is added to your policy to protect them from any liability arising solely from your operations. For example: Your landlord or someone you’re doing work for may require this.

 

Co-Insurance.

A penalty imposed by the insurance company if your property is under-insured. You need to make sure you’re insuring the true replacement cost of your property up to at least the percentage specified by the insurance company to avoid this penalty (typically 80-90%).

 

Insurance Value.

Insurance value is different from market value. It is based on the actual cost to repair or replace your property in the event of a loss, not what you would receive if you were to sell that same property.

 

Loss Payable.

A person or organization listed on your policy because they have a financial interest in it, such as your mortgage company.

 

Minimum and Retained Value.

The portion of your insurance premium that the insurance company will not refund you in the event you cancel the policy.

 

Replacement Cost.

The actual cost to buy a new item of similar kind or quality in the event of loss or damage to your existing item.

 

Any questions regarding the terms above and how they might apply to your policy? Our Bullfrog Insurance brokers would be happy to help you out. Contact us today for a free quote!

 

Avoid the Burnout by Making Work-Life Balance a Priority

work-life-balance

As a small business owner and/or entrepreneur, you most likely find yourself working 24/7 and the idea of having a work-life balance is a mystical concept that doesn’t fit within modern day society. Although it can be difficult to implement and maintain, developing a work-life balance is possible and essential when it comes to avoiding the dreaded burnout.

It’s important to understand that everyone is different and so are our responsibilities, which is why there is no cookie cutter plan to ensuring an effective work-life balance approach and strategy . Between organizing effective growth strategies for your small business and ensuring your clients are effectively being taken care of and valued, do your best to make your personal life outside of the office a priority.

Here are some tips on how to incorporate a work-life balance into your schedule:

 

Unplug at the End of the Day.

Working 7 days a week and having your phone always within arms reach 24 hours a day will ultimately make you feel drained and pushed to your limits. Being on call 24/7 will ultimately lead to a burn out and will hinder your ability to focus 100% on your small business. Make it a priority to turn off all your devices at a specific time in the evening in order to re-energize and take a fresh approach to your tasks the following day.

 

Create a Schedule and Prioritize Items on a Daily Basis.

Whether the night before or the day of, make it an effort to put together a schedule for each day so that you can prioritize your tasks and tackle them effectively. Creating a list  will also allow you the opportunity to analyze what items are urgent, what items can be dealt with within the day, and/or what items may need further follow-up.

 

Make Time for Family and Friends.

Although this can seem impossible at times, your family and friends should always be a top priority because at the end of the day, these individuals are most likely your support system and deserve your time and attention. The key to ensuring you spend quality time with your family and friends is to pre-plan and book time off accordingly. By pre-planning, it refrains you from reverting back to the famous line of ‘If I have time after work.”

 

Delegate Work Off Your Plate.

Sometimes you have to give up the control and hand over some of your workload to your employees to handle. They are there for the common goal of seeing the business grow and succeed so let them aid in seeing those goals achieved. By trying to juggle everything at once, you risk not being able to effectively tackle tasks efficiently and with focus.

 

Invest in Your Well-being and Take Care of Your Health.

By getting a full nights rest, eating right, and making an effort to exercise when possible, you are making an investment in your health and your businesses success. By taking care of yourself, you are ensuring that you are always tackling your work as the most productive version of yourself. By investing in yourself you are investing in your business.

 

If you have any questions regarding the information above or if you would like to discuss getting the right insurance for your business, our Bullfrog Insurance brokers would be happy to help you out. Contact us today for a free quote!

Importance of Arranging a Builder’s Risk Policy

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When building a new home, and sometimes even during a renovation, it’s essential to make sure that a Builder’s Risk/Course of Construction policy is in place. This policy provides coverage for the physical building while it’s under construction, from losses such as fire, vandalism, water damage and more. As a general contractor, you are responsible for the build and for the site, and as such, you could find yourself on the hook if you don’t arrange the Builder’s Risk policy yourself. Some of the pitfalls you might encounter if you don’t arrange the policy include:

 

No Coverage.

If you are working for a homeowner, they might say that they will purchase the policy and then forget to follow through or decide to save money and not purchase the policy or even let the policy expire before the project is complete. The general contractor is often considered to be responsible for all aspects of the project and as a result, you could find yourself paying for an uninsured loss due to the fact that you failed to purchase insurance for the project.

 

No Protection.

As the general contractor, you should always be a Named Insured on the Builder’s Risk policy in order to protect yourself. If you aren’t listed on the policy, you could be sued for a loss that occurs to the property and then not have a responding policy in place. This type of loss would not be covered under your Commercial General Liability policy as the house under construction would be deemed to be under your ‘care, custody and control’, which is an exclusion under a general liability policy. If you arrange the policy, you can ensure that your name is listed on the policy and that you will be protected under that policy in the event of a loss.

 

No Rights.

If there is a claim under the Builder’s Risk policy, say for example that a partially finished house caught on fire and burnt to the ground, you will want to be able to communicate with the claims adjustor and deal with both the repairs and the balance of the project. If you are not named on the policy, you would have no right to discuss the claim with the adjustor and they could even hire a different contractor for the repairs.

 

These are some broad examples of why a general contractor should arrange the Builder’s Risk policy. Our Bullfrog Insurance brokers are here to help if you have questions or want to discuss this policy coverage in further detail.

6 Tips for Taking Advantage of the Summer Slow Down

summer-small-business

Time goes by so fast! It’s now August and the summer is almost coming to an end. As your staff are finishing off their summer vacations and the business has slowed down, it’s a great time to take a breather and plan ahead for the coming months or catch up on some items.

Here are a few tips that you and your small business can implement and take advantage of before business begins to pick up again in the fall:

 

Review Invoices.

Make sure invoices are paid on time so that clients are happy and that there is no negative financial impact to your business. Instead of having only one individual who can sign off on cheques and authorize them, include another individual on this team so that there is always someone on staff with this responsibility.

 

Mid-Year Review.

The year is now halfway over and even though your fiscal year may not be in tandem with the calendar year, the summer provides an opportunity to review business objectives to see what is on track and/or what requires more attention.

 

Team Building.

As things may be slower around the office, it’s a good time to bring your staff together to discuss how they feel they can improve professionally on an individual basis, as a team and as a small business. From discussing these topics over a fun activity, perhaps trendy axe throwing competitions or even a team dinner, it allows for all staff to be open-minded and willing to offer constructive insight.

 

Online Reviews.

Potential new clients may be looking online for a company that offers the services/products that your small business provides; grab their attention, and business, by ensuring you have customer reviews available online. By having reviews and testimonials from your customers available online, whether through your business’ Google Plus page or another site such as Glassdoor, it provides potential and future clients with a window into what your business offers and how successful it is at providing it. You can request reviews from past and present clients/customers.

 

Community Involvement.

Small businesses rely on their communities, whether online or offline, to support their business endeavour and allow it to flourish. As things may have slowed down at the office or store during these summer months, it’s a great opportunity to head out to local events to spread the word on your small business. From attending street festivals and handing out information, to being a sponsor for an event that hits your target base, to even ramping up conversation on your social streams, staying connected with your community is important and will render positive results.

 

Take a Break!

With only a few weeks of summer left, treat yourself to some rest and relaxation. Although as a business owner it may be difficult to take a step back from your small business for a few days, it will give you the recharge needed to come back to work with more energy and with fresh new ideas on how to grow your small business. Avoid the burn-out!

 

If you have any questions regarding the information above or if you would like to discuss getting the right insurance for your business, our Bullfrog Insurance brokers would be happy to help you out. Contact us today for a free quote!

Travel Tips for Adventuring Abroad

 

travel-insurance-tips


While planning your next vacation or overseas trip can be exciting, its important to keep your safety and well-being a top priority during your organizational process. By taking some extra time prior to your trip to plan for the unexpected and to ensure all documentation required is in order, you are helping protect yourself from potential risk or a wrench being thrown into your plans.

 

Often overlooked, here are some important tips and items to consider when traveling abroad or across the border:

 

Keep Your Wallet and Valuable Items out of Sight.

Take precautions when venturing out on your vacation to ensure you don’t become the victim of a pickpocketing crime. Whether it is keeping valuable items in a money belt or in a buttoned up pocket, protect yourself and your items by keeping them safe and secure from unwanted attention. For an extra layer of protection, don’t store important items on the outer pockets of knapsacks and avoid using fanny packs as they may advertise the fact that you are carrying valuable items.

 

Check the Visa Requirements for the Countries You Will Be Visiting.

Whether you have a Canadian passport or you are a temporary resident who is currently living in Canada, it’s important to verify if there are specific Visa requirements for the country you will be visiting during your travels. Its important to check these requirements early on in your travel planning process in order to ensure that you have ample time should you need to request your Visa weeks prior to your travel dates. Canadian passport holders can check Visa requirements to their destination countries by visiting the Government of Canada website: http://travel.gc.ca/travelling/advisories

 

Check Travel Health Notices Before International Travel.

Before you head out to your international adventure, make it an important step to check the Public Health Agency of Canada’s website to see if there are any notices posted for your destination. This website, which is regularly updated, informs Canadian travelers of the various health risks, and recommended measures, that they may experience when visiting specific countries. Fore more information or to see if your international destination poses a current health risk: http://travel.gc.ca/travelling/health-safety/travel-health-notices

 

Keep a Scanned Version of All Important Documents.

From your passport, to your visas, to your travel insurance policy and contact information, be sure to scan all documents and store them somewhere safe online, such as emailing them to your personal email address. Should an unfortunate situation occur and you end up losing physical copies of your important documents while on your travels, having an online version ensures you are not left in the dark.

 

Heading out for a Weekend Trip to the U.S.? Make Insurance a Priority.

Although your brief trip across the border may seem harmless, without the proper travel health insurance, an unexpected slip and fall may end up costing you a great deal of money. By equipping yourself with the right travel health insurance, you can ensure that you wont have to experience financial implications due to a medical event across the border.

 

If you have any questions regarding the information above or would like to speak to a travel insurance specialist regarding an upcoming trip, our travel insurance partner, SecuriGlobe, is here to help you out. Representing up to 14 of Canada’s largest insurance providers, you can have the peace of mind in knowing you are getting the best travel insurance advice and policies available in Canada.

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