BB, your saw is a 10" right? Those box joint blade sets are usually 8" so usually an un-cut insert will clear the blade when all the way retracted. I know that when I cut a fresh insert for a 10" blade, it will retract to maybe 1/4" below the table top so I need a relief cut on the insert underside to allow the insert to be set in place before I raise the blade. If O'm in a rush I'll just install a circular saw blade (just under 8") and cut with that. When I see where the cut is centered on the insert bottom, I'll widen the kerf with a chisle just enough to make room for the 10" blade. If I'm not in a hurry, I run the insert over the router table with a bit (box core or 1/4"straight) to cut a channel for the blade that allows the insert to be fully installed before raising.
Really make me want to set up with one of those inserts that have the slip-in strip, usually 1/4", so I only have to replace that section when refreshing the insert or making one for a new blade.
