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SYSTEM AND METHOD FOR THE ASSESSMENT, PRICING, AND PROVISIONING OF DISTANCE-BASED VEHICLE INSURANCE

  • US 20070156468A1
  • Filed: 03/14/2007
  • Published: 07/05/2007
  • Est. Priority Date: 10/29/2004
  • Status: Active Grant
First Claim
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1. A method of assessing, pricing, and provisioning distance-based vehicle insurance, the method comprising:

  • 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;

    obtaining from the customer a legally binding declaration that the preliminary odometer reading is true and accurate; and

    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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