US 7,610,209 B2Granted

Method and apparatus for providing supplemental insurance for leased vehicles

OwnerOwen D. Stantoninventor

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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.

Claims8

Dependent claims

A method for providing supplemental lease insurance to a lessee of a vehicle to cover at least one up front cost of the lease in the event of a total loss of said leased vehicle, said method comprising:

providing a computer processing system comprising:
at least one computer processor for processing data;
a storage medium for storing data;
a user interface for receiving relevant information of a lease, said relevant information comprising at least one up front cost of said lease;
collecting relevant information regarding the vehicle lease;
collecting at least one up front cost for a vehicle lease;
identifying a total loss as a triggering event;
determining a payout amount based on said at least one up front cost with said computer processing system;
and,
in response to said triggering event, making a payment to said lessee for said payout amount.

7 more elements

Dependencies are inferred from the claim text.

Facts

Application: 10/317,268Filed 10 Dec 2002
Published: US 2004/0111330 A110 Jun 2004
Granted: 27 Oct 2009
Term ends: Not estimatedThe source records don’t support an estimate.

Classification4 codes

G06Q 30/02
Commerce: marketing; Price estimation or determination; Fundraising
G06Q 40/00
Finance
G06Q 40/08
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: insurance
G06Q
Information and communication technology [ict] specially adapted for administrative, commercial, financial, managerial

Family

US 2004/0111330 A1Pre-grant publication · published 10 Jun 2004
US 7,610,209 B2This patent

From the US filing history. Foreign family members aren’t listed.

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