Methods and systems for providing vehicle insurance

Abstract

According to certain embodiments of the present invention, a method is provided to determine (at a server) an initial first insurance rate for Provider A and a first insurance rate for Provider B. Both the initial first insurance rate for Provider A and the first insurance rate for Provider B correspond to a first insurance type. The initial first insurance rate for Provider A is adjusted A according to a first adjustment rule to form an adjusted first insurance rate for Provider A. A lower of the adjusted first insurance rate for Provider A or the first insurance rate for Provider B is selected. The adjusted first insurance rate for Provider A may be greater than the initial first insurance rate for Provider A and less than the first insurance rate for Provider B. An application fee for the adjusted first insurance rate for Provider A may be greater than an application fee for the initial first insurance rate for Provider A.

1 . A method of providing vehicle insurance, the method comprising:
 determining, at a server, an initial first insurance rate for Provider A and a first insurance rate for Provider B, wherein the initial first insurance rate for Provider A and the first insurance rate for Provider B correspond to a first insurance type;   adjusting the initial first insurance rate for Provider A according to a first adjustment rule to form an adjusted first insurance rate for Provider A; and   selecting a lower of the adjusted first insurance rate for Provider A or the first insurance rate for Provider B.   
     
     
         2 . The method of  claim 1 , further comprising:
 determining, at the server, a second insurance rate for Provider A and an initial second insurance rate for Provider B, wherein the second insurance rate for Provider A and the initial second insurance rate for Provider B correspond to a second insurance type;   adjusting the initial second insurance rate for Provider B according to a second adjustment rule to form an adjusted second insurance rate for Provider B; and   selecting a lower of the second insurance rate for Provider A or the adjusted second insurance rate for Provider B.   
     
     
         3 . The method of  claim 2 , wherein the first insurance type comprises at least one of liability insurance, physical damage insurance, or full coverage insurance, and
 wherein the second insurance type is different from the first insurance type and comprises at least one of liability insurance, physical damage insurance, or full coverage insurance.   
     
     
         4 . The method of  claim 1 , wherein the adjusted first insurance rate for Provider A is greater than the initial first insurance rate for Provider A and less than the first insurance rate for Provider B.