Manage Rate Classes

This section provides details on Managing Rate Classes in Coverages when adding or editing an allocation. In this section, you will create rate classes that will be used to quantify assets within different asset modules.

1. Go to the Coverages tab in the Allocations module.
2. In the module grid, find a coverage. Under the action menu, click Rates.
   
3. Click Add Rate.
   
4. Fill in the fields and perform an Advanced Query if needed.  See the example below.
   

Example: Add a Rate Class for Auto Coverage

This example is specific to auto coverage and references the Vehicles module. However, the general sequence of steps is the same for any kind of coverage.

1. Fill out the Add Rate Class form:
   • Type in a Name. For Auto rate classes, the Name field must match the vehicle Rate Class as it is listed in the Vehicles module.
   • Type in an Amount.
   • Select a Divisor, which is usually either 1 or a multiple of 10. The divisor is the number that the total asset value will be divided by to compute the allocation. The purpose of using a larger divisor is to provide more precision in creating the rate values and the resulting charges.
   • Use the Advanced Query to find a subset of assets that will be included in this particular rate class. This step is optional. Read more about advanced searches.
     
2. Click Add Rate to add as many as needed. 
3. Edit details by clicking in the fields.
4. Click Save Coverage when finished.
5. Click Close Coverage to go back to the main coverages page.