ROUTE BASED METHOD FOR DETERMINING COST OF AUTOMOBILE INSURANCE

  • US 20070282638A1
  • Filed: 06/04/2006
  • Published: 12/06/2007
  • Est. Priority Date: 06/04/2006
  • Status: Abandoned Application
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First Claim
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1. A method for determining automobile insurance cost based on safety characteristics of roads driven on in actual or estimated movements of the insured driver and vehicle over the time period the automobile insurance contract is in force, the method comprising:

  • identifying trips insured driver and vehicle have made or are expected to make over the time the insurance contract is in force based on the information provided by the insured wherein the said trips are defined by a starting location, intermediate stops and a final destination between which the insured driver and vehicle are expected to drive or have driven in such a manner as to reach the final destination starting from the starting location and driving through the intermediate stops;

    estimating insured driver and vehicle movements based on starting locations, intermediate stops and a final destinations of identified trips;

    determining an automobile insurance cost component based on the risk exposure due to the said insured driver and vehicle estimated movements on the identified trips;

    determining an automobile insurance cost component based on the risk exposure due to driving other than on the said identified trips;

    consolidating the said insurance cost components into the final insurance cost.

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