Systems and methods for analyzing property telematics data to update risk-based coverage of a property

US12400274B2 · kind B2 · utility

Assignee

• State Farm Mutual Automobile Insurance Company · US

Inventors

• Kristopher Keith Gaudin · Bloomington, US
• Tracey Dunne · Bloomington, US

Key dates

• Filing date: May 2, 2024
• Grant date: Aug 26, 2025
• Expiry date: May 2, 2044

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0645
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods may analyze property telematics data, with homeowner permission or affirmative consent, to update risk-based coverage of a property, such as a house, during a short-term rental. The systems include a renter analytics computing device, a plurality of property telematics devices at the property, including at least one sensor, and a property telematics controller. The renter analytics computing device is configured to retrieve a pre-rental record including parameters of a short-term rental of the property, and retrieve property telematics data, from the property telematics devices, associated with the short-term rental. The renter analytics computing device may develop a risk level profile associated with the short-term rental and determine an adjusted coverage rate to cover the property during the short-term rental. As a result, a homeowner of the property may be protected against damages incurred to the property during the short-term rental.