Abstract: A method of assessing, pricing, and provisioning distance-based vehicle insurance is disclosed. The method includes receiving a vehicle identification number of a vehicle to be insured from a customer, receiving an preliminary odometer reading of the vehicle to be insured from the customer, and obtaining from the customer a legally binding declaration that the preliminary odometer reading is true and accurate. The method includes insuring the vehicle during a policy period defined by coverage for a preselected number of units distance from the preliminary odometer reading.

Abstract: A method of providing vehicle insurance is disclosed. Determining a number of unexpired units distance under an existing insurance policy, the existing policy being defined in part by coverage for a predetermined number of units distance for a specified vehicle is disclosed. Assessing a premium per unit distance for a new policy, and providing coverage under the new policy for the unexpired units distance under the existing policy in exchange for receiving a payment comprising the difference between the premium per unit distance for the new policy and a premium per unit distance for the existing policy multiplied by the number of unexpired units distance is disclosed.

Abstract: A method for assessing, pricing, and provisioning distance-based vehicle insurance is disclosed. Receiving identification information of a customer and an associated vehicle, a current odometer reading of the vehicle, and a garaging location of the vehicle is disclosed. The customer is provided with a quote including a policy rate identifying a cost per distance unit based on the customer and vehicle identification information and the garaging location. Performing a purchase transaction for an insurance policy in response to the customer selecting one of the items for purchase, wherein coverage provided by the insurance policy expires based on the earlier of an odometer expiration value occurring and a predetermined time limit is disclosed. The expiration odometer value is the sum of the current odometer reading and the total number of distance units included in the selected item. The current odometer reading is not audited prior to or during the purchase transaction.

Abstract: A system and method for assessing, pricing, and provisioning distance-based vehicle insurance are provided. In one example, the method receives identification information of a customer and an associated vehicle, and a current odometer reading. Multiple coverage types are provided to the customer, as is at least one quote when the customer selects one of the coverage types. The quote includes a policy rate identifying a cost per distance unit based on the identification information. The customer is provided with multiple items based on the quote, where each item includes a total number of distance units for purchase at the policy rate. An insurance policy may be purchased in response to the customer selecting one of the items. The insurance policy's coverage is based on an expiration odometer value defined as the sum of the current odometer reading and the total number of distance units included in the selected item.

Abstract: A system and method for calculating and assessing earned insurance premium for a mileage based insurance contract is disclosed. The system includes charging a customer a policy premium for a policy period of an insurance contract defined in part by coverage for a preselected number of units distance from the inception of the contract, determining the number units distance lapsed since contract inception, and assessing an earned premium against the charged policy premium based on the ratio of units distance lapsed to units distance insured under the policy.

Abstract: A method of providing vehicle insurance is disclosed. Determining a number of unexpired units distance under an existing insurance policy, the existing policy being defined in part by coverage for a predetermined number of units distance for a specified vehicle is disclosed. Assessing a premium per unit distance for a new policy, and providing coverage under the new policy for the unexpired units distance under the existing policy in exchange for receiving a payment comprising the difference between the premium per unit distance for the new policy and a premium per unit distance for the existing policy multiplied by the number of unexpired units distance is disclosed.

Abstract: A system and method for assessing, pricing, and provisioning distance-based vehicle insurance are provided. In one example, the method receives identification information of a customer and an associated vehicle, and a current odometer reading. Multiple coverage types are provided to the customer, as is at least one quote when the customer selects one of the coverage types. The quote includes a policy rate identifying a cost per distance unit based on the identification information. The customer is provided with multiple items based on the quote, where each item includes a total number of distance units for purchase at the policy rate. An insurance policy may be purchased in response to the customer selecting one of the items. The insurance policy's coverage is based on an expiration odometer value defined as the sum of the current odometer reading and the total number of distance units included in the selected item.

Abstract: A system and method for assessing, pricing, and provisioning distance-based vehicle insurance are provided. In one example, the method receives identification information of a customer and an associated vehicle, and a current odometer reading. Multiple coverage types are provided to the customer, as is at least one quote when the customer selects one of the coverage types. The quote includes a policy rate identifying a cost per distance unit based on the identification information. The customer is provided with multiple items based on the quote, where each item includes a total number of distance units for purchase at the policy rate. An insurance policy may be purchased in response to the customer selecting one of the items. The insurance policy's coverage is based on an expiration odometer value defined as the sum of the current odometer reading and the total number of distance units included in the selected item.