‘The Agency Advantage’ has predefined screens for Auto, Home Owners, Mobile Home and Motor Cycle policies. The ‘Miscellaneous’ or ‘Other’ class of policies allows you to predefine coverages, limits and premiums for the other personal lines and commercial business you write.
For ‘Miscellaneous’ class policies, you must first assign an identifying code to the system for each different type. A full description will also be attached to these codes. Lets take a look at how these different classes are defined.
From the main menu select system setup. Then select Lines of business.
Here you can see several different classes of policies that have already been defined.
Next lets look at the controls at the bottom of the screen.
- First there is the Add control for adding a new Class.
- Then the Edit Class Details control. Coverage information pertaining to each class is contained in the class details.
- Next is the delete control, to delete a class from the system. And last is the exit control which will take you back to the setup menu.
Now lets experiment with adding a new class.
Click on add a new class.
Enter “RENT” as a code. The code can be up to 5 characters long. Press Tab. Then enter “Rental Insurance” as a Description.
Press tab once more and class details will be displayed.
I’m going to set this up as a standard rental policy for apartment dwellers with some standard coverage and premiums. The coverage field, limit field and premium field are all character fields. This means you can enter either numeric or character information. If numeric information is entered into the premium field, the system will recognize this as currency and will total it into the total premium field when you assign the class to a policy.
Enter “Personal Property” Limit $20,000 Premium $130.00.
Enter “Cameras” Limit $ 1,000 Premium Included
Enter “Silverware Limit $1,000 Premium Included
Enter “Furs” Limit $1,000 Premium Included
Enter “Fire Arms” Not covered
Enter “Currency” Not Covered
Now if we exit back to the class headers, you can see we have renters insurance in proper order. And if you edit the class details you can see that the system retained the information we entered.