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 8April 2008

Experiencing a Claim Teaches Important Lessons
I have helped lots of my clients handle claims with their insurance companies. But when I experienced a claim of my own, I found out I had several things still to learn. READ MORE...

Gas: Guzzling or Sipping?
Using less gas helps your wallet and the environment. So what can you do to improve your mileage -- and your financial picture? READ MORE...

On the Cheap
There are many things that seem to decline with age: energy level, memory, hairline. But one of the benefits of getting older is that you can get more stuff for less. The senior discount has become a firmly established part of the American marketplace. READ MORE...

28 Places to See
The Smithsonian magazine released a list of "28 Places to See Before You Die." The list includes natural wonders and manmade sites from the ancient and the modern world, and it covers all corners of the globe. READ MORE...

Be Careful When Hiring Household Help

The people you hire to work in and around your home -- as housekeepers, gardeners, child care workers, personal trainers, etc. -- can help make life much easier. But they also can pose a significant threat to your property and even to your personal safety, because they often have fairly unrestricted and unsupervised access to your home and property. Household staff members have stolen their employer's identity, their jewelry and, on rare occasion, their life.

So how do you protect yourself against this kind of danger? You can work through an agency that conducts background checks on potential employees and places them with clients. If you choose to go this route, make sure that the agency you are using is reliable. Ask for details on how long it has been in business and how many employees it has placed, and check references. Ask if the agency has insurance coverage in case the employees it places steal or damage anything in your home.

You also may want to check with friends to see if they can recommend someone. But whether you start with a recommendation or start from scratch, if you decide to go through the hiring process on your own, make sure you:

  • In a preliminary phone interview, ask candidates whether they can provide references and proof of citizenship. Be wary of people who seem uncomfortable doing so. And be sure to check all references.

  • Meet for interviews in a public place, rather than in your home. You might even want to bring along a trusted friend, for support and another opinion.

  • Plan your interview ahead of time, writing out questions about the applicant's work history, experience, how the applicant has dealt with challenging situations. Be ready with a detailed description of the job you want done. Answer the applicant's questions honestly, but don't provide personal information.

  • Require that the applicant give you a color copy of a photo ID, valid driver's license and passport. Make sure the picture on these documents matches the person you are talking to and that the signature matches the person's signature.

  • Consider hiring a firm to conduct a background investigation of the applicant.

  • Finally, trust your instincts. If something about the applicant makes you uncomfortable, even if you can't quite put your finger on it, it's probably best to try someone else.

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