Manage deductibles

A deductible is the amount of money an insured is responsible for paying toward an insured loss before insurance will pay. On the exposure file’s Accounting screen, you can apply deductibles, override deductibles, and revert to the original deductible. To apply deductibles, see Make a payment on an exposure. To override the deductible prior to applying the deductible, move to the Override deductible section before navigating to the post linked above.

Note: Not all coverages will have deductibles. Whether or not a coverage has a deductible will depend on how the product defined in BriteLines.

Refer to Figure 1 to locate the following components of the Deductible section. If a coverage associated with an exposure has a deductible, the deductible amount will appear next to Deductible under Exposure Accounting Summary on the exposure file’s Accounting screen. The deductible can be edited by specific roles. The pencil icon next to the deductible amount indicates that the deductible can be edited.

Note: Deductibles can’t be edited if the deductible is already applied or if the exposure is closed.

If the word Overridden appears next to the Deductible, this indicates that the deductible has already been overridden. When you hover over the word Overriden, a tooltip opens providing the original deductible amount and the reason it was overridden. If the word Applied appears next to the Deductible, this indicates that the deductible has already been applied to the insured loss.

Figure 1: Deductible listed under Exposure Accounting Summary on the exposure file’s Accounting screen.

Override deductible

For business or customer service reasons, an insurance company may choose to waive or reduce the amount of the insured’s deductible; this is called overriding the deductible. To override the deductible:

  1. Select the pencil icon next to the amount listed next to Deductible. The Edit Deductible dialog box will open.
  2. Navigate to the Applicable Deductible box in the New Deductible section and type the new deductible amount that will be applied.
  3. From the Reason for Change dropdown, select an option. The options in Reason for Change are configurable.
  4. Select Save. The new amount will populate next to Deductible in the exposure file’s Accounting screen, and Overridden will appear next to the amount. When you select to Make Payment and you choose to apply the deductible, the new amount will display in the Deductible to be Applied box.

Revert to original deductible

After overriding a deductible, you can revert back to the original deductible. To revert to the original deductible:

  1. Select the pencil icon next to the amount listed next to Deductible. The Edit Deductible dialog box will open.
  2. Navigate to the New Deductible section and select the Revert to the original link. You will return to the exposure file’s Accounting screen, and the original deductible amount will display.