Patent ID: 7865378

Claim:
A computer system for assessing, pricing, and provisioning distance-based vehicle insurance, the system comprising: a computer processor; and a computer memory accessible to the computer processor, the computer memory and computer processor being communicatively detached from a customer associated vehicle, wherein the computer memory comprises a plurality of instructions which, when executed by the computer processor, perform a method, the method comprising: receiving a current odometer reading of the vehicle from the customer, wherein the odometer is the factory installed odometer and is representative of the original miles traveled by the vehicle; providing a plurality of coverage types to the customer; providing the customer with at least one quote upon receiving an input selecting one of the coverage types, wherein the quote includes a policy rate identifying a cost per distance unit based on the customer and vehicle identification information; providing the customer with a plurality of pre-calculated items based on the quote, wherein each item includes a total number of distance units for purchase at the policy rate; and performing a purchase transaction for an insurance policy in response to input from the customer electing one of the items for purchase, wherein coverage provided by the insurance policy is based on an expiration odometer value defined as the sum of the current odometer reading and the local number of distance units included in the selected item, and wherein the current odometer reading is not audited prior to or during the purchase transaction.