Recording and reporting of driving characteristics

Abstract

A system for recording, transmitting and compiling information indicative of actual vehicle operation and usage includes a device installed within a vehicle. Sensors communicate with the device to provide information relating to operation of the vehicle. A location module utilizes satellite signals to determine the current location of a vehicle. A data extraction module sends data to a central process server. The central processor compiles and summarizes the information from the device for determination of vehicle usage for use in determining an insurance premium.

Description

[0001] This application claims priority to U.S. Provisional Application No. 60 / 540,165, which was filed on Jan. 29, 2004.BACKGROUND OF THE INVENTION [0002] This invention relates to a device and method for recording driving characteristics. More particularly, this invention relates to a method and device for recording driving characteristics utilized to monitor and compile vehicle usage data for determining an insurance premium. [0003] Vehicle insurance is currently determined substantially through the use of historical data combined with information from other sources concerning the vehicle owner and operator. The information concerning the operator typically includes general vehicle usage information such as how the operator typically uses the vehicle, such as for going back and forth to work. The places and locations in which the vehicle is utilized by the operator are also considered in the determination of the vehicle insurance premium. [0004] A principal disadvantages with thi...

AI Technical Summary

Benefits of technology

[0009] The sensors communicating with the device include an accelerometer for determining the maximum acceleration and deceleration of the vehicle. Data from the accelerometer can be utilized to determine the specific driving habits of a vehicle operator. As appreciated, hard braking and hard acceleration are indicative of certain types of driving and can in some instance heighten risk factors that may cause an increase in insurance premiums.

[0013] Accordingly, the device and process of this invention provides an easy installable device for the acquisition of data that can be utilized to provide an accurate and verifiable summary of actual vehicle usage to improve the accuracy and determination of vehicle insurance premiums.

Problems solved by technology

A principal disadvantages with this method of insurance premium determination is that much of this information is not verifiable.

In other words, an operator may exaggerate or under estimate the actual usage of the vehicle.

Accordingly, an insurance provider is therefore at a disadvantage in applying a premium based on predicted or non-verifiable information.

However, in the absence of such data the actual operating characteristics and use of a vehicle are not easily determinable.

Images