SYSTEM AND METHOD FOR COMMUNITY BASED INSURANCE

• US 20090132292A1
• Filed: 05/29/2008
• Published: 05/21/2009
• Est. Priority Date: 11/19/2007
• Status: Abandoned Application

• Current Assignee: Abraham S. Hoppenstein
• Original Assignee: Abraham S. Hoppenstein
• Inventors: Hoppenstein, Abraham S.
• Application Number:
  US12/129,352
• Publication Number:
  US 20090132292A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A system and method for community-based insurance. According to one embodiment, a device may receive one or more attributes of a residential community in which a homeowner owns a residence, determine whether the attributes satisfy criteria to qualify the homeowner for an insurance policy, calculate, if the criteria is satisfied, a premium for the insurance policy, and generate the insurance policy based on the calculated premium.

Claims

1. A method, comprising:

receiving one or more attributes of a residential community in which a homeowner owns a residence;

determining whether the attributes satisfy criteria to qualify the homeowner for an insurance policy;

calculating, if the criteria is satisfied, a premium for the insurance policy; and

generating the insurance policy based on the calculated premium.

2. The method of claim 1, further comprising:

receiving an indication of affluence of the homeowner; and

determining whether the indication of affluence satisfies the criteria.

3. The method of claim 1, wherein the criteria require the homeowner to be a member of a country club.

4. The method of claim 1, wherein the criteria require the residential community to be secured.

5. The method of claim 1, wherein the criteria require the residential community to be a secured country club community.

6. The method of claim 1, wherein the insurance policy includes property insurance coverage and casualty insurance coverage.

7. The method of claim 3, wherein the property insurance coverage includes coverage for the residence of the homeowner.

8. The method of claim 3, wherein the property insurance coverage includes coverage for one or more assets owned by the homeowner and housed in the residence of the homeowner.

9. The method of claim 5, wherein the assets include an automobile.

10. The method of claim 5, wherein the assets include art.

11. The method of claim 5, wherein the assets include jewelry.

12. A method, comprising:

receiving one or more attributes of a residential community in which a homeowner owns a residence;

calculating a premium for an insurance policy for the homeowner based on the attributes; and

generating the insurance policy based on the calculated premium.

13. The method of claim 12, further comprising:

receiving an indication of affluence of the homeowner; and

calculating the premium based on the indication of affluence.

14. The method of claim 12, wherein the attributes specify that the homeowner is a member of a country club.

15. The method of claim 12, wherein the attributes specify that the residential community is secured.

16. The method of claim 12, wherein the attributes specify that the residential community is a secured country club community.

17. The method of claim 12, wherein the insurance policy includes property insurance coverage and casualty insurance coverage.

18. The method of claim 17, wherein the property insurance coverage includes coverage for the residence of the homeowner.

19. The method of claim 17, wherein the property insurance coverage includes coverage for one or more assets owned by the homeowner and housed in the residence of the homeowner.

20. The method of claim 19, wherein the assets include an automobile.

21. The method of claim 19, wherein the assets include art.

22. The method of claim 19, wherein the assets include jewelry.

23. A computer embodying instructions to:

calculate a premium for a single property and casualty insurance policy for a homeowner based on an amount of affluence and a residence in a secured country club community; and

generate the insurance policy based on the calculated premium.