Monitoring system for determining and communicating a cost of insurance

  • US 20040153362A1
  • Filed: 01/23/2004
  • Published: 08/05/2004
  • Est. Priority Date: 01/29/1996
  • Status: Active Grant
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1. A system for determining the cost of insurance related to the operation of a motor vehicle associated with a party, the system comprising:

  • a device for obtaining and recording operational characteristics and operator actions relating to a level of risk applicable to the motor vehicle;

    a means for the party associated with the motor vehicle to review the recorded information in conjunction with information indicating how the recorded information would affect the cost of insurance;

    a means for the party associated with the motor vehicle to selectively control whether to submit the recorded information to an insurer;

    a means for the party associated with the motor vehicle to submit the recorded information to the insurer, if the party elects to do so;

    a means for assigning a risk level based in part on the recorded information; and

    a means for determining a cost of insurance for the motor vehicle based on the assigned risk level.

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