Creating or Editing a Policy

Tailoring insurance policies to meet the specific needs of your clients is crucial in the warranty management sector. This guide on ‘Creating or Editing a Policy in BidBoxPro’ is your resource for customizing policies with precision. It walks you through the necessary steps to adjust coverage details, set pricing, and manage terms, enabling you to offer policies that are both competitive and compliant.

1.) Access Manage Policies: #

  • On the BidBoxPro dashboard, go to the ‘Settings’ tab.
  • Select ‘Manage Policies’ to see existing policy groups and their respective policies.


2.) Add a New Policy or Edit an Existing One: #

  • To create a new policy, click the ‘+ Add a Policy’ button within the desired policy group.
  • To edit an existing policy, click on the policy you wish to change.


3.) Enter Policy Details: #

  • Policy Template: Choose a template as the basis for your policy.
  • Policy Group: Select the group that the policy will belong to.
  • Policy Name: Assign a unique name to the policy.

4.) Set Pricing Details: #

  • Enter the monetary details for the policy:
    • Monthly Price: Specify the monthly cost of the policy.
    • Yearly Price: Enter the annual cost.
    • Affiliate Price: If there’s a different price for affiliates, add that here.
    • Renewal Price: Specify the renewal rate for the policy.
    • Service Call Fee: Include a service call fee if required.

5.) Policy Duration and Limits: #

  • Renewal Monthly: Enter the monthly renewal rate.
  • Policy Claim Limit: Set a limit for claims, if any.
  • Duration in Months: Define how many months the policy lasts.


6.) Configure Numbering Formats: #

  • Contract # Format: Define the numbering format for contracts.
  • Terms # Format: Set the format for terms numbering.
  • Claims # Format: Determine the claims numbering format.
  • Job # Format: Specify the job numbering format.

7.) Define Policy Features: #

  • Select applicable property types for the policy.
  • Detail any specific policy features or add-ons.

8.) Adjust Policy Settings: #

  • Enabled: Ensure this is checked so the policy appears on internal order forms.
  • Hidden from the Online Order Form: Check if the policy should not be visible online.
  • Is Taxable: Indicate whether the policy is subject to taxes.
  • New Construction: Check if this applies to new building projects.

9.) Set Notifications: #

  • Configure notification settings to control alerts related to policy activities, such as when contracts go active, claims are approved, or when information needs to be communicated to the homeowner or affiliate.

10.) Save the Policy: #

  • After all configurations are set, click ‘Save’ to store the policy details. If you’re editing an existing policy, these changes will take effect immediately.


Please ensure all details are accurate and reflect the coverage you intend to provide before saving the policy.

Incorrect information can affect contracts and claims associated with the policy.

Updated on November 27, 2023


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Frequently Asked Questions

Can Your Platform Integrate With my Other Systems?

Yes, if your service provider offers an API. We have a well documented API and offer support for handling integrations with our system as well.

Can Your System be Configured to Match my Current Workflow?

Yes. Our system can be configured to match any workflow or lifecycle for the customer, policy, claims process and more. 

Can You Handle our Existing Database Migration?

Yes. We can handled migrations of all complexities to ensure you have a smooth transition without a drop in service. 

Our current software was Built in House for our Specific Needs, how do I Know Bid Box Pro Will be a Good fit?

We see this very often with companies outgrowing an old tech stack. Our system is built and managed by a dedicated team of top level engineers with scalability in mind. We are dedicated to providing our customers with the latest solutions that are continuously optimize to meet the needs of your organization. 


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