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. 14, Issue 7March 2019


It's Time to Prepare for Spring Storms

Even though it feels like it is still winter, spring is around the corner. And along with the warmer weather, we can expect lots of melting to add to the typical spring rains and storms. There are some things you can do to prepare your home for possible flooding and storms.

One of the most important things is to understand what your insurance covers – and what it doesn’t cover. Most homeowner’s insurance covers damage related to sewer backup and mold remediation, to specified limits. But it does not cover damage from water that comes into your home from outside.

This applies obviously to rivers or creeks that overflow their banks and cause flooding in your home. But it also applies to water that comes in through your basement windows through a flooded yard, for example. Damage from water that comes into your house from outside and that is not sewer backup is covered only by flood insurance issued by the federal government. And of course, any policy covers you only to the limits of the policy. At The Bensman Company, we would be happy to review your policy with you. If you feel you need additional coverage, we can help you find a policy that fits your needs.

In addition to checking your coverage, there are other things you can do to make sure you are ready. Test your sump pump and your backup system. Put wood under appliances to elevate them, and move stored items into waterproof bins or to higher ground. Make sure you have dehumidifiers handy.

In case your best efforts fail and water gets into your home, have information on cleanup firms. If you have flooding, the chances are a lot of other people do too. The sooner you call, the sooner a crew will be able to come out. We have a list of trusted cleanup companies, and we are happy to share the list with our clients. Contact us if you would like to have a copy. Then keep your list handy so you can call immediately if you need help.

Monitor the weather, and remember that spring storms can cause flash flooding and damage to roads. Don’t take a chance with your life and the lives of your loved ones. If you are in the path of a serious storm that could cause substantial flooding, don’t wait until you can’t get out. And never drive into standing water unless you are absolutely certain that it is not deep enough to be dangerous.

Finally, if there is damage from rain or wind in your neighborhood, you probably will be contacted by a “contractor” who offers to fix your roof or remove downed trees for a lot less than you expected to pay. It can be risky to work with contractors you don’t know and who are not local. Once they finish the job, they are likely to disappear. And if a problem arises with their work later – which is likely – you have nowhere to turn.

We will be happy to discuss your flood preparedness, including coverage under your homeowner’s policy, or any other wealth or risk management questions you have. You can contact us at 847-572-0828 or

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