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. 3, Issue 7March 2008

Protect Against Liability for Identity Theft
The Bensman Group can help business owners get the protection they need against liability related to theft of client information. READ MORE...

Saving Energy and Money
You can add insulation or put in an energy-efficient furnace to save money on your energy bill. But even small changes in the way you live can make a big dent in your costs. READ MORE...

Tighter Credit Looms for Everyone
The problems in the sub-prime lending market are translating into higher credit standards overall. So how can you ensure your credit rating is high enough for you to get the money you need? READ MORE...

Trading School for Travel
You can't always schedule travel for times when your child is not in school. So when should you take your child out of class to travel, and how can you smooth the way with the school? READ MORE...

Keeping an Eye on Your Kids

We all want to believe that our children tell us the truth all the time. Still, most of us understand that something short of full disclosure is the norm for most adolescents, and we hope that what we don't know about our children's lives won't hurt us -- or them.

It can hurt us, though, if our young drivers amass tickets that we don't know about. Suppose your teenage driver gets two speeding tickers and just pays the fines, hoping Mom and Dad don't find out. But the state of Illinois knows, and those tickets will show up as convictions on your child's motor vehicle report. That could end up costing you big bucks.

Your insurer has the ability to obtain motor vehicle reports on you and the other drivers in your household, and sometimes does so on a "random sampling" basis. If you have an umbrella insurance policy with a high limit, such as $10 million or more, the insurer will check motor vehicle reports annually. And if your child's tickets are for significant offenses, such as driving 25 miles per hour over the limit, your insurer probably will act to cancel your auto and umbrella insurance.

So talk to your kids about the importance of being honest about any tickets they get, and work with them to help them maintain a clean driving record.

If you are not sure you can trust your kids to tell you the truth, the state of Illinois allows you to check up on them. The Secretary of State's Web site has a link called "Parental Access to Teen Driving Records." If you are the parent or guardian of a driver under age 18, you can click on this link to take a look at the child's driving record. The state offers this service as a way of helping parents to monitor and control their teen's driving until they are ready to be fully responsible themselves.

Finally, remember that The Bensman Group is here to help. We know that young drivers sometimes make mistakes and, although we can't promise miracles and we certainly don't want to condone bad driving, we can offer a network of contacts, including well-respected attorneys, who may be able to provide assistance in these matters. Telling us about a major driving violation -- your child's or your own -- is not the same as telling the insurance company. We want to work with you to solve all your insurance issues.

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