Entering Insurance Information

Access the Insurance Information form.

Insurance Company

Specify the name of the company issuing a specific insurance policy for a piece of equipment or property.

Insurance Policy Number

Specify the insurance policy number for the asset. This field is used for informational purposes only.

Renewal Month

Specify the month in which the insurance policy is to be renewed.

Insurance Premium

Specify the cost of the insurance premium.

Insurance Value

Specify the declared value for insurance reporting purposes. You must use the query facility to prepare reports as prescribed by the insurance company.

Replacement Cost

Specify the current or estimated replacement cost of the asset. Typically, replacement cost is established by objective means, such as an appraisal or an industry valuation guideline. Replacement costs are often used for insurance reporting and special financial statements.

Last Years Replacement Cost

Specify the estimate cost to replace the asset if purchased in the prior year. You must use the query facility for reports.