Motor vehicle monitoring system for determining a cost of insurance

  • US 5,797,134 A
  • Filed: 01/29/1996
  • Issued: 08/18/1998
  • Est. Priority Date: 01/29/1996
  • Status: Expired due to Term
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First Claim
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1. A method of determining a cost of automobile insurance for a selected period based upon monitoring, recording and communicating data representative of operator and vehicle driving characteristics during said period, whereby the cost is adjustable by relating the driving characteristics to predetermined safety standards, the method comprising:

  • determining an initial insured profile and a base cost of automobile insurance based on said insured profile;

    monitoring a plurality of data elements representative of an operating state of a vehicle or an action of the operator during the selected period;

    recording selected ones of the plurality of data elements when said ones are determined to have a preselected relationship to the safety standards;

    consolidating said selected ones for identifying a surcharge or discount to be applied to the base cost; and

    ,producing a final cost of automobile insurance for the selected period from the base cost and the surcharge or discount.

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