System and method for the assessment, pricing, and provisioning of distance-based vehicle insurance
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United States of America Patent
Stats
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Aug 2, 2011
Grant Date -
Jul 5, 2007
app pub date -
Mar 14, 2007
filing date -
Oct 29, 2004
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A method of assessing, pricing, and provisioning distance-based vehicle insurance is disclosed. The method includes receiving a vehicle identification number of a vehicle to be insured from a customer, receiving an preliminary odometer reading of the vehicle to be insured from the customer, and obtaining from the customer a legally binding declaration that the preliminary odometer reading is true and accurate. The method includes insuring the vehicle during a policy period defined by coverage for a preselected number of units distance from the preliminary odometer reading.
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