Coverage & Warranty Reports
The coverage and warranty reports help you track the non-operational aspects of asset management: insurance policies, lease obligations, warranty coverage, and physical audit results. These reports are essential for compliance, risk management, and financial planning.
Insurance Coverage Report
The Insurance Coverage Report (FrmInsuranceCoverageReport) provides an overview of insurance policies associated with your assets. It shows which assets are insured, by whom, and for how much.
Purpose
Insurance is a critical component of asset risk management. This report helps you verify that your assets are adequately insured, identify gaps in coverage, and plan for upcoming policy renewals. It brings together all insurance-related data in one place so you do not need to check individual asset records.
Columns
| Column | Description |
|---|---|
| Asset # | The unique asset identification number |
| Name | The descriptive name of the asset |
| Insurance Provider | The name of the insurance company or broker |
| Policy Start | The start date of the insurance policy |
| Policy End | The end date of the insurance policy |
| Insured Value | The value for which the asset is insured |
| Premium Cost | The premium amount for this asset's coverage |
| Coverage Type | The type of coverage (e.g., Full Replacement, Actual Cash Value, Liability Only) |
Filters
- Location — Filter by a specific location or All Locations.
- Date Range — Filter policies by their active period. Policies whose start or end date falls within the selected range are included.
Common Use Cases
- Identifying uninsured or underinsured assets — Compare the list of insured assets against your full Asset Register to find assets that are not covered. Check the Insured Value against the asset's current replacement cost to identify underinsured assets.
- Renewal planning — Filter by policies ending in the next 30, 60, or 90 days to create a renewal calendar. This gives you time to shop for competitive rates or adjust coverage before policies lapse.
- Premium budgeting — Sum the Premium Cost column to understand your total insurance expenditure on assets. Break it down by location or category for detailed budget planning.
Tips
- Run this report quarterly to catch expiring policies before they lapse.
- Compare the Insured Value to the asset's book value or replacement cost. If the insured value is significantly lower, you may be underinsured.
- Export to CSV and create a pivot table by Insurance Provider to see how much you are spending with each provider.
Lease Payment Report
The Lease Payment Report (FrmLeasePaymentReport) tracks lease obligations for leased assets. It shows the payment schedule, total payments made, remaining obligations, and lease status.
Purpose
Leased assets represent ongoing financial commitments. This report gives you visibility into your lease portfolio, helping you manage cash flow, plan for lease expirations, and make informed decisions about renewals or buyouts.
Columns
| Column | Description |
|---|---|
| Asset # | The unique asset identification number |
| Name | The descriptive name of the asset |
| Lessor | The name of the leasing company or landlord |
| Lease Start | The start date of the lease agreement |
| Lease End | The end date of the lease agreement |
| Monthly Payment | The monthly payment amount |
| Total Payments | The total amount paid to date under this lease |
| Remaining | The remaining lease obligation (total lease value minus total payments) |
| Status | The current lease status: Active, Ending Soon (within 90 days of expiration), or Expired |
Filters
- Location — Filter by a specific location or All Locations.
- Date Range — Filter leases by their active period.
Common Use Cases
- Cash flow planning — Sum the Monthly Payment column to understand your total monthly lease obligation. Factor this into your cash flow projections.
- Lease renewal decisions — Filter for leases with Ending Soon status to identify leases that need renewal decisions. Compare the monthly payment to the cost of purchasing the asset outright.
- Total lease expense analysis — Use the Total Payments column to see how much you have spent on each lease to date. Compare this to the asset's purchase price to evaluate whether leasing has been cost-effective.
Tips
- Pay close attention to leases with Ending Soon status. These need a decision within 90 days: renew, return, or buy out.
- The Remaining column gives you a quick view of your total outstanding lease obligations, which is useful for financial reporting and lending applications.
- Export to CSV and group by Lessor to see your total exposure to each leasing company.
Warranty Expiration Report
The Warranty Expiration Report (FrmWarrantyExpirationReport) tracks warranty coverage dates for all assets and highlights warranties that are expiring soon or have already expired.
Purpose
Warranty coverage can save significant money on repairs and replacements. This report helps you stay aware of warranty status so you can take advantage of coverage before it expires and plan for the increased maintenance costs that come after warranty expiration.
Columns
| Column | Description |
|---|---|
| Asset # | The unique asset identification number |
| Name | The descriptive name of the asset |
| Category | The asset category |
| Location | The current location of the asset |
| Warranty End Date | The date the warranty coverage expires |
| Days Remaining | The number of days until warranty expiration (negative values indicate days past expiration) |
| Status | The warranty status: Active (more than 90 days remaining), Expiring Soon (90 days or fewer remaining), or Expired (past the end date) |
Filters
- Location — Filter by a specific location or All Locations.
Common Use Cases
- Planning extended warranty purchases — Review assets with Expiring Soon status and decide whether to purchase extended warranty coverage. This is often more cost-effective than paying for repairs out of pocket, especially for high-value or failure-prone equipment.
- Scheduling maintenance before warranty expires — If an asset has known issues, schedule a warranty repair before coverage ends. This report helps you identify the window of opportunity.
- Identifying assets at risk — Expired warranties mean you are fully responsible for repair and replacement costs. Use this report to budget for increased maintenance spending on recently expired assets.
Tips
- Review this report monthly. Focus on assets with Expiring Soon status and take action before coverage lapses.
- For assets with expired warranties, cross-reference with the Maintenance Cost Report to see if repair costs have increased since expiration.
- Export to CSV and sort by Days Remaining to create a prioritized list for warranty action decisions.
Audit Discrepancy Report
The Audit Discrepancy Report (FrmAuditDiscrepancyReport) shows the results of physical asset audits, highlighting discrepancies between what the system records say and what was found during the physical count.
Purpose
Physical audits are the ultimate verification of your asset records. When auditors scan or count assets, they compare their findings against the system. This report captures any discrepancies found, such as assets that could not be located, assets found in the wrong location, or assets in a different condition than recorded.
Columns
| Column | Description |
|---|---|
| Audit Date | The date the physical audit was performed |
| Asset # | The unique asset identification number |
| Name | The descriptive name of the asset |
| Expected Location | The location where the system says the asset should be |
| Expected Condition | The condition recorded in the system (Good, Fair, Poor) |
| Found Status | Whether the asset was Found or Not Found during the audit |
| Found Condition | The actual condition observed during the audit (if found) |
| Discrepancy Type | The type of discrepancy: Missing (not found), Location Mismatch (found in wrong location), Condition Change (condition differs from recorded), or Multiple (more than one discrepancy) |
Filters
- Location — Filter by the location where the audit was conducted.
- Date Range — Filter by the date the audit was performed.
Common Use Cases
- Resolving missing assets — Assets with a Not Found status need investigation. They may have been transferred without updating the system, disposed of informally, or stolen. This report is the starting point for tracking them down.
- Updating condition records — When auditors find assets in a different condition than recorded, use this report to identify which records need to be updated. Keeping condition data current improves the accuracy of your asset valuations and maintenance planning.
- Improving asset tracking processes — Frequent discrepancies in a particular location or category may indicate process issues. Use this report to identify patterns and implement corrective measures such as better check-in/check-out procedures or more frequent audits.
Tips
- After resolving discrepancies, update the asset records in the system so the next audit starts with accurate baseline data.
- A high discrepancy rate (more than 5% of assets audited) suggests that asset tracking processes need improvement.
- Export to PDF as a permanent record of each audit and its findings for compliance documentation.
What to Read Next
- Asset Reports Overview — Summary of all reports and common features
- Asset Register & Valuation Reports — Financial snapshot reports
- Depreciation & Fully Depreciated Reports — Depreciation reporting details
- Operations Reports — Transfer, disposal, and maintenance reports