Insurance incentive program for promoting the purchase or lease of an automobile

• US 8,781,862 B1
• Filed: 09/24/2010
• Issued: 07/15/2014
• Est. Priority Date: 08/23/2000
• Status: Expired due to Fees

• Current Assignee: In The Car LLC
• Original Assignee: Disruptive Technologies, Ltd.
• Inventors: Wallach, Robert, Jackson, Jasper
• Primary Examiner(s): Frenel, Vanel
• Application Number:
  US12/890,517
• Time in Patent Office: 1,390 Days
• Field of Search: 705/10, 705/500, 705/4, 705/14
• US Class Current: 705/4
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Included in the terms of a purchase or lease agreement, particularly pertaining to automobiles, a party having a business relationship with the seller or lessor, or the seller or lessor itself, agrees to provide a policy, including at least collision and/or comprehensive coverage, to a qualified buyer. The insurance coverage protects against losses related to the item being purchased or leased for a predetermined period of time. To be qualified, the purchaser or lessor must reside in a particular geographic region and purchase or lease, for example, a particular make and model of automobile. No further characteristics of the purchaser or lessor are considered in obtaining the insurance policy. The sale or lease of the item and provision of the insurance policy may be completed over a computer network, such as the Internet.

Claims

1. A processor-implemented method for providing an incentive relating to a sale or lease of an item, comprising:

receiving an indication of an item sold to a buyer or leased to a lessee for which insurance is provided by a third party;

determining, via a processor, a class of items for which insurance is to be provided with a sale or lease of one of the class of items;

determining a geographic region in which a buyer of one of the class of items must reside to receive the insurance; and

paying an insurance premium for an insurance policy on behalf of the buyer, the insurance policy covering an item from the class of items after a sale or lease of the item to the buyer residing in the geographic region.