Method and system for insuring real property in wildfire prone areas
First Claim
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1. A method of providing an insurance policy for a home, the method comprising:
- providing a computer having a processor;
deploying a plurality of sensors in a vicinity of the home;
receiving data from the plurality of sensors, wherein the data comprises information related to environmental factors associated with the home;
transmitting the information related to the environmental factors to the computer;
computing, by the processor, a fire risk associated with the home using the information; and
computing, by the processor, an insurance premium for the insurance policy using the computed fire risk;
wherein the insurance premium is valid for a period of time less than a month in duration.
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Abstract
A method of providing an insurance policy for a home includes providing a computer having a processor and deploying a plurality of sensors in a vicinity of the home. The method also includes receiving data from the plurality of sensors. The data includes information related to environmental factors associated with the home. The method further includes transmitting the information related to the environmental factors to the computer, computing, by the processor, a fire risk associated with the home using the information, and computing, by the processor, an insurance premium for the insurance policy using the computed fire risk.
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Citations
21 Claims
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1. A method of providing an insurance policy for a home, the method comprising:
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providing a computer having a processor; deploying a plurality of sensors in a vicinity of the home; receiving data from the plurality of sensors, wherein the data comprises information related to environmental factors associated with the home; transmitting the information related to the environmental factors to the computer; computing, by the processor, a fire risk associated with the home using the information; and computing, by the processor, an insurance premium for the insurance policy using the computed fire risk; wherein the insurance premium is valid for a period of time less than a month in duration. - View Dependent Claims (2, 3, 4, 5, 6, 20)
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7. A method of offering an insurance policy on a property to a user, the method comprising:
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providing a computer having a processor, receiving an address of the property from the user; accessing an insurance database; determining, using the insurance database, that the property is uninsurable, wherein the address of the property is located within a general vicinity of high fire risk; receiving data from a plurality of sensors associated with the property; computing, by the processor, a fire risk associated with the property; computing, by the processor, a policy premium using the computed fire risk; and offering the insurance policy to the user. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A method of managing insurance premiums for a home, the method comprising:
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providing a computer having a processor; deploying a plurality of sensors in a vicinity of the home; receiving data from the plurality of sensors, wherein the data comprises information related to environmental factors associated with the home; analyzing, by the processor, the data to determine that one or more fire mitigation procedures have been performed in association with the home to reduce a fire risk associated with the home; transmitting information related to the one or more fire mitigation procedures to the computer; computing, by the processor, the fire risk associated with the home using the information related to the one or more fire mitigation procedures and the information related to the environmental factors associated with the home; and computing, by the processor, an insurance premium for the insurance policy using the computed fire risk. - View Dependent Claims (14, 15, 16, 17, 18, 19, 21)
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Specification