Method and apparatus for providing supplemental insurance for leased vehicles
OwnerOwen D. Stantoninventor
Life of this patent
Estimating the term…
Abstract
Methods of the present invention are designed to offer insurance to lessees of vehicles to cover up front, out-of-pocket lease expenses in the event of a total loss, e.g., theft, and preferably include steps performed by a vehicle leasing dealer as well as steps performed by one or more participating insurers. The steps are preferably performed with the aid of computing devices which are in communication. When the lease is prepared, the relevant information about the lease and the lessee is submitted by the lease dealer to the participating insurers. The insurers determine the cost of supplemental insurance based on this information and, if the cost is acceptable, offer insurance coverage to the lessee.
Claims21
A method for providing supplemental lease insurance to cover at least one up front cost of a leased vehicle in the event of a total loss, said method comprising:
- a) collecting relevant information regarding the vehicle lease;
- b) collecting relevant information regarding the lessee;
- c) determining the cost of insurance to cover at least one up front cost of a leased vehicle in the event of a total loss;
- d) deciding whether to offer said insurance to cover said up front cost of said leased vehicle in the event of a total loss;
- and
- e) if deciding to offer insurance, offering said insurance to a lessee.
A method for providing supplemental lease insurance to cover at least one up front cost of a leased vehicle in the event of a total loss, said method comprising:
- a) collecting relevant information regarding the lease and the lessee;
- b) communicating the relevant information from a lease dealer to an insurer;
- c) the insurer determining the cost of insurance to cover said up front cost of said leased vehicle in the event of a total loss and deciding whether to offer said insurance;
- and
- d) when deciding to offer insurance, communicating the offer to the lease dealer from the insurer.
Apparatus for providing supplemental lease insurance to cover at least one up front cost of a leased vehicles in the event of a total loss, said apparatus comprising:
- a) means for collecting relevant information regarding the vehicle lease and the lessee;
- b) means for communicating the relevant information from a lease dealer to an insurer;
- c) means for determining the cost of insurance to cover said up front cost of said leased vehicle in the event of a total loss and deciding whether to offer said insurance;
- and
- d) means for communicating the offer to the lease dealer from the insurer.
Dependencies are inferred from the claim text.