Sensors for usage-based property insurance

Abstract

A method includes receiving, at an insurance provider server and from at least one sensor located at an insured property, sensor data indicative of an insurance risk associated with the insured property. The method also includes determining, based at least in part on the received sensor data, a risk-adjusted insurance premium for an insurance account associated with the insured property. The risk-adjusted insurance premium compensates for the insurance risk associated with the insured property.

What is claimed is: 
     
         1 . A method comprising:
 receiving, at an insurance provider server and from at least one sensor located at an insured property, sensor data indicative of an insurance risk associated with the insured property; and   determining, based at least in part on the received sensor data, a risk-adjusted insurance premium for an insurance account associated with the insured property to compensate for the insurance risk associated with the insured property.   
     
     
         2 . The method of  claim 1 , further comprising determining an amount of the insurance risk based on the sensor data, wherein the risk-adjusted insurance premium is determined based at least in part on the amount of the insurance risk. 
     
     
         3 . The method of  claim 2 , wherein the amount of the insurance risk is determined locally at the insured property and provided to the insurance provider server. 
     
     
         4 . The method of  claim 2 , further comprising determining whether the determined amount of the insurance risk exceeds an insurance risk threshold. 
     
     
         5 . The method of  claim 4 , wherein determining the risk-adjusted insurance premium is done only if the determined amount of the insurance risk exceeds the insurance risk threshold. 
     
     
         6 . The method of  claim 1 , wherein the at least one sensor comprises a stress sensor positioned on a load bearing structural component of the insured property, and wherein the insurance risk comprises a structural integrity risk of the insured property. 
     
     
         7 . The method of  claim 1 , wherein the at least one sensor comprises a humidity sensor, and wherein the insurance risk comprises a mold growth risk in the insured property. 
     
     
         8 . The method of  claim 1 , wherein the at least one sensor comprises an occupancy sensor, and wherein the insurance risk is based on a lack of occupancy in one or more areas of the insured property. 
     
     
         9 . An insurance provider server comprising:
 a memory configured to store sensor data received from at least one sensor located at an insured property, wherein the sensor data is indicative of an insurance risk associated with the insured property; and   a processor operatively coupled to the memory and configured to determine, based at least in part on the received sensor data, a risk-adjusted insurance premium for an insurance account associated with the insured property, wherein the risk-adjusted insurance premium compensates for the insurance risk associated with the insured property.   
     
     
         10 . The insurance provider server of  claim 9 , wherein the processor is configured to determine an amount of the insurance risk based on the sensor data, and wherein the risk-adjusted insurance premium is determined based at least in part on the amount of the insurance risk. 
     
     
         11 . The insurance provider server of  claim 10 , wherein the processor is further configured to determine whether the determined amount of the insurance risk exceeds an insurance risk threshold. 
     
     
         12 . The insurance provider server of  claim 11 , wherein the processor determines the risk-adjusted insurance premium only if the determined amount of the insurance risk exceeds the insurance risk threshold. 
     
     
         13 . The insurance provider server of  claim 9 , wherein the memory is further configured to store an amount of the insurance risk based on the sensor data, and wherein the amount of the insurance risk is determined locally at the insured property and provided to the insurance provider server. 
     
     
         14 . The insurance provider server of  claim 9 , wherein the at least one sensor comprises a stress sensor positioned on a load bearing structural component of the insured property, and wherein the insurance risk comprises a structural integrity risk of the insured property. 
     
     
         15 . The insurance provider server of  claim 9 , wherein the at least one sensor comprises a humidity sensor, and wherein the insurance risk comprises a mold growth risk in the insured property. 
     
     
         16 . The insurance provider server of  claim 9 , wherein the at least one sensor comprises an occupancy sensor, and wherein the insurance risk is based on a lack of occupancy in one or more areas of the insured property. 
     
     
         17 . The insurance provider server of  claim 9 , wherein the risk-adjusted insurance premium comprises a reduction in an insurance premium associated with the insured property. 
     
     
         18 . A non-transitory computer-readable medium having instructions stored thereon for execution by a computing device, wherein the instructions comprise:
 instructions to receive sensor data from at least one sensor located at an insured property, wherein the sensor data is indicative of an insurance risk associated with the insured property; and   instructions to determine, based at least in part on the received sensor data, a risk-adjusted insurance premium for an insurance account associated with the insured property, wherein the risk-adjusted insurance premium compensates for the insurance risk associated with the insured property.   
     
     
         19 . The non-transitory computer-readable medium of  claim 18 , further comprising instructions to determine an amount of the insurance risk based on the sensor data, and wherein the risk-adjusted insurance premium is determined based at least in part on the amount of the insurance risk. 
     
     
         20 . The non-transitory computer-readable medium of  claim 19 , further comprising instructions to determine whether the amount of the insurance risk exceeds an insurance risk threshold, wherein the risk-adjusted insurance premium is determined only if the determined amount of the insurance risk exceeds the insurance risk threshold.