•    The value of the information recorded must be greater than the cost of obtaining and maintaining it.
•    In order to decide which assets to include in a register, look at the value of the asset, the information that is needed to effectively manage that particular type of assets and the cost of obtaining and maintaining that information.
•    It is best to use a professional independent when compiling an asset register.
•    Use a company that has the necessary expertise to assist in these valuations.
•    Asset reports have to reflect both market and insurance replacement values.
•    It is vital to update your asset register regularly so that claims are paid out promptly by your insurance company.
•    If you need assistance it is important that the company that compiled your assets is on call all the time should you need immediate help.
•    This is so that they will be able to submit a report to your insurance brokers should the need arise.
•    This should be done digitally and should include digital images and should also include replacement values as at the date of the claim and has to backed by all relevant documentation that includes certificates of evaluation, receipts and anything else required.

When insuring your business, it is a brilliant idea to keep your finger on the pulse at all times; this way there will be no discrepancies and no disputes when it comes to claiming. That is the reason why an asset register should be kept up to date and using professional to do this is one step better.

Should you have insurance for your business, then it is possible that you do not know what you own, where it is and what it is worth.

Keeping an Asset Register is therefore really important:

•    It is important to keep a comprehensive asset register which will permit your business to track and manage its assets and will provide a means to ensure prompt payment of replacement values from insurers if these assets are either stolen or damaged.
•    There is a precise system for an asset register that is favoured by your insurers.
•    It is advisable to keep your asset register in electronic format and one which is backed up by a state-of-the-art programme.
•    Email based systems are imperfect and deteriorating amenities may influence the insurers alertness of significant facts that are related to either the underwriting or the process of claiming.
•    In order for an asset register to be helpful it has to include information on each asset so that that particular asset can be efficiently managed.
•    This should include a name that plainly identifies the asset throughout the corporation.
•    You will need a fundamental set of information that describes all the assets within the company such as the position, the age, and the value and also the condition of the asset.
•    Include any other information that might be pertinent, such as when the asset was last serviced.

Remember that it is important to manage and to maintain the value and the replacement of assets when it comes to business insurance.

The first step to getting cash loans would be to find a legitimate loan office.  It is best to use a well-known office for a peace of mind.  You would not want to give all your personal information over just to get your identity stolen.  Ask family and friends which loan office they would recommend.  It is better to be safe than sorry.

The next step to getting fast cash would be to make an appointment.  Some loan offices accept walk-ins, also.  At your appointment, they are going to ask a few personal questions just for security purposes.  They will need your name, Social Security number, phone number and mailing address. 

Credit checks and collateral are not necessary when getting advanced cash.  It usually means immediate approval, but there is from disadvantages, also.  You generally will have higher interest rates on your loan because it is an unsecured loan.  Depending on the size of your loan, you will have to pay it back within a certain timeframe.  Some cash loans have to be paid back in three months, where other loans have a five year payback term.

If you do not pay back the loan within the timeframe, there will be penalties.  The interest rate will increase on your original loan, plus you will have an additional interest rate.  Avoid the possibility of this happening by paying your loan off early or by the required time.  Cash loans can help you in times of need, as long as you make your monthly payments.    

Cover Your Computers for All Eventualities

When you have business insurance, it is a good idea to stipulate on the insurance contract that you need to have your home computer covered, to have your laptop covered, your software covered, and also that there is cover for your data recovery.

Data on your computer is imperative whether it is information pertinent to your personal or your business life. Backing up your data is really important, but many people are remiss in doing so.

Your Home Computer:

•    Your home computer is usually covered under your household contents insurance.
•    Cover is usually covered by damage caused from fire, explosions, lightning, earthquakes, water, storms etc but it is usually limited to damage caused in your main residence.
•    The damage that is caused is usually not covered by your insurance for lost data or digital content.
•    There are certain companies that will cover loss of data, but this most definitely has to be specified on your insurance schedule.
•    You have to provide proof of loss of your software in these instances before your insurance company will agree to cover your software.
•    If you experience power surges resulting in damage to your computers, remember that not all insurance will cover this.
•    This kind of cover has to also be specified in your insurance schedule.
•    All specifics listed on your schedule will, however, push up the cost of your insurance.

Insurance for your laptop:
 
•    Because computers are used outside the main residence more often than not, it is therefore important to specify the cover for your laptop under your all risks insurance policy.
•    Laptops are not automatically covered by your insurance company – this means the repairs and loss of the software, therefore it is important to find out exactly what it is that your insurance is prepared to cover.
•    Find out exactly what your all-risks would be covering and specify these on the contract.

Make sure that the brand, model and serial number of all your electronic equipment are stipulated on your insurance schedule.

Review Your Insurance and all other Financial Matters When Getting Married

When experiencing a life-changing event, it might be a good idea to have a close look at reviewing all your financial matters. This includes your will, your pension, health insurance, your life insurance, and more. Perhaps you would like to include your spouse on your life insurance as a beneficiary, or maybe your medical aid will now be charged as a couple instead of as a single unit.

Life-changing occurrences always need a financial review. These include having a baby, getting married and divorced or if your partner dies.

Being deceitful about money from the beginning could only spell trouble at the commencement of a relationship, so if you are looking to getting married it is advisable to be honest right from the outset and to discuss the matter in depth with your partner-to-be.

Running up debt and having a poor credit record could reflect negatively if you need credit to make large purchases such as buying a home or car or even if you need to apply for a credit card.

Planning is the secret to your success.

Get a copy of your credit report online from the three major credit bureaus in SA, compare quotes and packages online from insurance companies to make the best deal and biggest savings.

This is one way of starting a new life with a new partner on a strong financial footing.

Always have financial independence, so if something should go wrong you will always have your own money.

This way if your spouse were to sadly die, in terms of the management of Estates Act no one can have power over the deceased’s possessions and liabilities without an authorized letter of appointment from the Master of the Supreme Court.

When someone dies the bank will freeze their bank accounts, but if you have your own account and money you will not be affected in your own capacity, but you will not be able to continue any transactions such as withdrawals from the ATM or any other transactions from your deceased partner’s bank accounts.

Review carefully all financial obligations and insurance policies when getting married, and remember that retaining independence is always the best route to take, regardless of the circumstances.

Who would you like to take your motor, house owner’s, household, or business insurance with?

Surely the company you select is one that has been around for a very long time. Looking for a company that you can implicitly trust when you are in desperate need to claim when things go wrong? Mutual and Federal have an incredible track record, have been around for more than 175 years, and have taken care of millions of claims over the decades, right across the board covering anything and everything that is insurable.

Instead of going with a “No Name Brand” insurance house that offers you the world plus, go along with a company like Mutual and Federal that is trustworthy, efficient, and there for you when you most need assistance. When the going is good everything is usually fine, but when things happen to your business, your life, your car or your home, you want someone that is solid and reliable.

There are many companies that will offer you the world at a brilliant price, but the only way you are ever going to know if the deal is good is when the chips are down. Read the small print, and compare packages and offering from a variety of companies. And most importantly cheap is seldom best. What do you get for “cheap”? If the cover is not really that good, perhaps take out insurance that is a little more expensive but one which will cover you properly in the event of something going awry.

Mutual and Federal go way back and have roots embedded in the Cape. One can hardly beat a stalwart that has been around for literally hundreds of years. A company with this type of history is hard to beat.

•    Life assurance or life insurance; it makes little difference  which one you settle for, how much it costs or what kind of product you purchase; the main aim of the exercise is to be covered when you die.
•    With  online comparisons  you could find numerous different quotes; all you will have to do is fill out a simple form so that  you can get quotes and find out how much you could save or how much you will be paying for life assurance or life insurance.
•    Within a really short period of time, you will be able to compare quotations and get the response you need.
•    You should be able to make savings of up to 30%.
Look out for these key points when taking out insurance on your life
•    Always be honest when disclosing certain information, as you want your family to benefit after you are no longer here.
•    If you have a pre-existing conditions  and you do not disclose this to your insurer, then it is not guaranteed that your policy will be paid out for that particular condition.
•    Always name a beneficiary as this is essential; should you die intestate, then it will take far longer for your estate to be wound up.
•    Naming beneficiaries enables the beneficiaries to be paid out really fast; in some cases only a When you name a beneficiary on your life assurance policy, there are no executor’s fees if the monies are paid directly to the beneficiaries.
•    The amount paid out could be subjected to estate duty, so ensure that there are adequate funds for this possibility.
•    Put everything down in writing.

Update your will, take out life insurance and get your house in order for the sake of those left behind.

•    Re-value your car annually
•    This way you will find that your car insurance premiums will drop drastically.
•    Car insurance is expensive in SA, thus making car insurance cover one of the “luxury” items on the shopping list.
•    Life is getting tougher, hijackings more frequent, thus more frequent claims; this makes car insurance cover even more important.
•    If you do not drive a lot look out for the drive-as-you-go options that certain insurance companies offer.
•    If you are a female driver, remember that you will pay less for your premiums.
•    Safety measures, such as tracking devices living in a safe area and fitting your car with alarms will reduce your premiums quite substantially.

There is a lot more to insurance than only car cover; motor bikes fall into this category. You will be able to insure all types of bikes for theft and damages. Car insurance will cover your bike for eventualities whether the use of the bike is for fun or whether the bike is used as your regular mode of transport. The accessories for the bike can also be covered by your motor insurance company.

Caravans are also covered by your car insurance. Should your caravan be damaged or if it is stolen, ensure that your caravan is covered by your vehicle insurance, too.

Shop around and compare your insurance packages and quotes from the numerous car insurance companies; you can easily do this online.

It is not easy to calculate exactly how much you are going to need to ensure that your family is going to have enough life cover when you are no longer able to take care of them, and to maintain the standard of living they are used to.

If you are using life insurance purely to cover a debt, the calculations are quite easy to work out. However, when providing for a family’s future, the education, inflation, home improvements and the purchase of any vehicles all need to be taken into consideration.

It is at times such as these that you must remember that an amount that is insured in present times and the resultant investment income from these funds may only be able to provide for a lesser time period than what the family requires.

When calculating how much life cover you need, include the existing cover you already have as a member of your company’s provident fund or if you have a pension with your company. Although these could all be taxed on the event of your demise, which is dependent on whether you are or not part of an approved group life scheme, you will need to add the after-tax portion of this cover to your own personal cover.

Take note; should you leave your company, this cover automatically falls away unless you take up the continuation option within a 30 day period of time. This option is offered free from most medical requirements.

•    Reviewing your life cover on a regular basis is important; ensure that you have put enough aside.
•    Provide bank wire instructions to your insurance company in the event of a disaster happening.
•    Make a laminated emergency contact card and place it in your wallet for emergency personnel to reach your family in the event of a calamity occurring.
•    Inflation is the enemy of all investors, particularly when it concerns life insurance; if you do not review your cover regularly, and die prematurely, the effects on your family could be devastating.
•    With inflation the rate it is going, the purchasing power of money will be halved and therefore your current life will be half the value in nine years.
•    Knowing what to expect of your broker will ensure you select the best long-term insurance.
•    Your adviser must do a financial needs and risk analysis for you prior to a product being sold to you.
•    Revisit all your insurance, not only life cover, and investigate if there is sufficient cover for all eventualities.
•    A medical condition that is not disclosed could result in your claim not being paid out.
•    A general rule of thumb is to talk to your financial adviser at least once a year regarding your portfolio investment.

Direct insurers now compete with companies who use agents and brokers. It must be noted that rates can vary quite substantially all depending on your health, your job status and description, and other benefits such as disabilities and diseases.