1. An insurance system that processes information representative of an operating state of a motorized vehicle and provides a classification rating comprising: a microprocessor configured to extract selected insurance related data generated by a vehicle sensor within the motorized vehicle, the selected insurance related data being representative of an operating state of the motorized vehicle; a remote computer configured to provide the classification rating used to determine a cost of insurance based on actual driving characteristics of the motorized vehicle determined from the selected insurance related data; and a telecommunication device within the motorized vehicle that communicates through a wireless communication link that couples the microprocessor to the remote computer, where the telecommunication device is configured to transfer the selected insurance related data from a buffer that stores data waiting to be transferred from the motorized vehicle to the remote computer, where the selected insurance related data is stored in the buffer at equal time intervals.