Alpha Backer - Ship Insurance?

[Captain Zoe E Summers]

I seem to recall that as an Alpha Backer my ship insurance was going to be permanently reduced to 50% of the full price.

However when I looked today it says 98% on the right UI Panel.

Am I right about the 50% if so, how do I fix this?

 

[Katkon]

I'm a PB backer, and mine says 96% (which I presume means my insurance premium is 4%). By that logic, your insurance is half of mine.

 

[Toffa]

Zoe,

This is working as intended.

Normal insurance 'buy-back' is 5% of cost so 95% is covered. So if your ship costs 100cr's, when you die you can buy back your ship for 5cr (5% of 100). ->http://elite-dangerous.wikia.com/wiki/Insurance_costs

In your case 98% of you ship is covered. So if you die you can buy your 100cr ship back for 2cr or 2% of cost.

Make sense?

Toffs
( '-')7

 

[Captain Zoe E Summers]

Zoe,

This is working as intended.

Normal insurance 'buy-back' is 5% of cost so 95% is covered. So if your ship costs 100cr's, when you die you can buy back your ship for 5cr (5% of 100). ->http://elite-dangerous.wikia.com/wiki/Insurance_costs

In your case 98% of you ship is covered. So if you die you can buy your 100cr ship back for 2cr or 2% of cost.

Make sense?

Toffs
( '-')7

Oh, okay... so it's way better than the 50% lifetime insurance they were offering then - right? Is this gonna stay?

BTW Thanks you two for answering / helping.

 

[FX2K]

I was asking about insurance premiums in another thread, but it soon dropped away due to the 2.02 etc..

Anyway, my question is this.... Is the 5% base rate sticking, or will it be increasing on release?
I seem to recall it being 10% at one point... obviously, I hope it stays at 5% but would like to know either way.

 

[Toffa]

Oh, okay... so it's way better than the 50% lifetime insurance they were offering then - right? Is this gonna stay?

No you're thinking about it the wrong way...

It's not a premium like car or house insurance. You don't pay a fee to insure your ship. Premiums are included in the purchase price. Ok?

When you get killed, the insurance that you paid for when you purchased the ship kicks in and allows you to purchase your ship back for 5% of what you paid for it. This is available to all players, even the new ones that purchase on the 16th. Groovy?

As an Alpha Backer, you get a reduction of 50% on the 5% that everyone else pays. So you only have to pay the equivalent of half of what someone else pays to get the same ship back rounded to the nearest full credit.

Lets' say we both have a Sidewinder and with the upgrades we have purchased along the way it is worth 23,400cr.

We both get killed. Our options now are to to start again with a fresh Sidewinder, or purchase our old ships back via insurance.

Because I am not an Alpha Backer I have to pay 5% of 23,400 to get the same ship back (1170cr).

Because you are an Alpha Backer you only have to pay 2.0% (468cr).

The amount you pay for the same thing as me is just a little better than 50% or half of what I pay.

Get it now?

Toffs
( '-')7

 

[Captain Zoe E Summers]

No you're thinking about it the wrong way...

It's not a premium like car or house insurance. You don't pay a fee to insure your ship. Premiums are included in the purchase price. Ok?

When you get killed, the insurance that you paid for when you purchased the ship kicks in and allows you to purchase your ship back for 5% of what you paid for it. This is available to all players, even the new ones that purchase on the 16th. Groovy?

As an Alpha Backer, you get a reduction of 50% on the 5% that everyone else pays. So you only have to pay the equivalent of half of what someone else pays to get the same ship back rounded to the nearest full credit.

Lets' say we both have a Sidewinder and with the upgrades we have purchased along the way it is worth 23,400cr.

We both get killed. Our options now are to to start again with a fresh Sidewinder, or purchase our old ships back via insurance.

Because I am not an Alpha Backer I have to pay 5% of 23,400 to get the same ship back (1170cr).

Because you are an Alpha Backer you only have to pay 2.0% (468cr).

The amount you pay for the same thing as me is just a little better than 50% or half of what I pay.

Get it now?

Toffs
( '-')7

Totally, yes that's perfectly clear.

Sorry I didn't get it first time, but thanks so much for explaining it so clearly.

And have some rep!

Thanks again.

 

[Toffa]

Totally, yes that's perfectly clear.

Sorry I didn't get it first time, but thanks so much for explaining it so clearly.

And have some rep!

Thanks again.

No need for apologies. It's all good. Thanks for the rep.

See you in the stars Commander!

Toffs
( '-')7