Abstract: A method for personalizing a per ride insurance rate which comprises receiving a current insurance rate per distance unit calculated based on a user profile of at least one of the driver and the vehicle, identifying an initiation of the ride with the vehicle by the driver, calculating driving behavior parameters reflecting driver behavior during the ride according to outputs of at least one driving parameter sensor mounted in the vehicle during the ride, identifying a termination of the ride, calculating an insurance cost for the ride according to a distance accumulated during the ride and the current insurance rate per distance unit, calculating an update to the current insurance rate per distance unit according to the driving behavior parameters, and presenting the update and the insurance cost on a display of the client terminal to the driver in the vehicle in response to the detection of the termination.