Bensman Risk Management, Inc.

Insurable Interests

Bensman Risk Management, Inc.
2333 Waukegan Road Suite 275
Bannockburn, IL 60015
847-572-0800 Phone
847-572-0502 Fax

Insurable Interests may offer general financial, insurance, tax and business ideas. However, due to the ever-changing tax laws as well as the complexity of the financial industry, you should seek professional advice before implementing any of the ideas contained in this newsletter. The Bensman Group, Bensman Associates Ltd., Bensman Risk Management, Inc. or Schemata, L.L.C. assumes no liability whatsoever in connection with the use of this newsletter.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), Member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS). Kestra IS and Kestra AS are not affiliated with The Bensman Group, Bensman Associates Ltd., Bensman Risk Management, Inc. or Schemata, L.L.C.

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Insurable Interests

Vol. 11, Issue 10June 2016


Call Before Buying, Building or Remodeling

Summer time is prime time for building, buying and remodeling homes. It can be very exciting as you look for the perfect house or decide what features you want to change to improve your current home. But in your excitement, don’t forget the practical question of insurance.

A home is a large investment, and you want to be sure that it is protected. If you are buying an existing home, for example, you want your insurance to begin at the moment of closing. If you are building, you want to be protected from the time the first shovel full of dirt goes flying. And if you are renovating, you want to make sure your coverage is appropriate to your situation.

The best approach is to call us as soon as possible. If you know you are in the market for a house, let us know in general what you are looking for so that we can begin to search for your best coverage options. The same is true if you are building. That way we will be able to make sure that all the details are nailed down by the time the house is yours.

Remodeling brings its own challenges from an insurance standpoint. If you are doing a relatively minor remodel – which many insurers consider to be 10 percent or less of the insured value of your home – and if you will be living in the house during the project, coverage is usually fairly simple. You need to let us know so that we can contact your insurer, of course, but it does not usually present problems.

But if you are doing an extensive renovation, and particularly if you are not going to be living on site or hiring security during the work, finding and pricing coverage can be more challenging. We need to understand the full scope of your project in order to find the insurance solution that works best for you.

So if you are thinking of changing your address this summer – or sprucing up the address where you already live – give us a call as soon as possible. You can contact us about this or any other issue at 847-572-0820 or

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