Ship Insurance

dementia

dementia
After a nasty scuffle with a NPC Sidewinder and 6 of his mates at the same time I managed to escape but with only 10% ship integrity (close one I know). Maybe some one can explain the following to me though.

Insurance cost to replace everything I had - circa 8500cr
Repair costs at the station - circa 12,500cr

Something seems wrong to me here. It should surely never be more economical to allow yourself to be destroyed (and get a new ship with all your gear back) than it is to limp home and get all the repairs done.

If that is deliberate then by my calculations assuming a near linear repair cost estimate...

100% repair cost = (100 * 12500) / 90 = 13,889cr
Insurance alternative = 8,500cr

Therefore in future, if my ship integrity drops below 39% (100-((8500/13889) * 100)) then I may as well fight to the death and go down with my ship! (how noble I know).

I recommend that this be changed!
 

dementia

dementia
bitstorm said:
You don't pay the whole insurance, think of it as the excess.

I recommend it doesnt be changed!
Click to expand...

I'm not sure I understand what the difference is that you are trying to illustrate. Regardless of what you call it, you still pay the amount do you not? Granted I've never actually had to buy back a replacement ship so my understanding of how it works may be flawed.

As I see it there are only 3 possibilities here...

1. You pay the amount stated which is how I understand it currently.
2. You pay more than the amount stated (and thus the repair costs become less than the full replacement cost) but this would mean the information in the game is very misleading.
3. You pay less but this only amplifies the discrepancy I'm highlighting

Can anyone resolve this in detail?
 

bitstorm

bitstorm
Imagine your car has a policy that covers it ONLY for when it's totally destroyed..

You crash it, it's *almost* a write off and you want it replacing well there's two options:

1) Fix it yourself at a large cost
2) Destroy it yourself and claim on the insurance, if you do this you'll have to pay the 10% "excess"

Sometimes value in (2) might be less than (1).

The same happens in real life where a crashed car doesn't have *that* much damage but it's more economical to scrap it than it is to fix it, insurance then call it a write off even though technically speaking it's not. Often its because manual labour cost of repair is much more than assembly line cost of building new.
 
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dementia

dementia
bitstorm said:
Imagine your car has a policy that covers it ONLY for when it's totally destroyed..

You crash it, it's *almost* a write off and you want it replacing well there's two options:

1) Fix it yourself at a large cost
2) Destroy it yourself and claim on the insurance, if you do this you'll have to pay the 10% "excess"

Sometimes value in (2) might be less than (1).

The same happens in real life where a crashed car doesn't have *that* much damage but it's more economical to scrap it than it is to fix it, insurance then call it a write off even though technically speaking it's not. Often its because manual labour cost of repair is much more than assembly line cost of building new.
Click to expand...

I'm quite aware of how insurance works in the real world ;-) however in the real world you pay a premium (monthly or in one hit). It is essentially a bet you are having with the insurance company. They bet you your premium money that you won't have an accident the coming year. That bet is hedged across all the other insured people (otherwise your insurance would be many factors greater in cost per year).

I'm not aware of any premium being charged/payed in ED or are you saying that a % of whatever you buy (as it goes up when you add new kit to you ship) is essentially that said premium?
 

bitstorm

bitstorm
No you pay it afterwards which is a bit weird but y'know gameplay reasons.

I think the specifics are in the HUD on your right.
 

dementia

dementia
bitstorm said:
No you pay it afterwards which is a bit weird but y'know gameplay reasons.

I think the specifics are in the HUD on your right.
Click to expand...

Ok but the HUD on the right backs up my argument.

Since no one else seems to have complained I'm guessing I'm missing something so no worries. I might switch to my spare Sidewinder sometime and try it out (although my Sidewinder is 80ly away at the moment).
 

Dambob

D
dementia said:
After a nasty scuffle with a NPC Sidewinder and 6 of his mates at the same time I managed to escape but with only 10% ship integrity (close one I know). Maybe some one can explain the following to me though.

Insurance cost to replace everything I had - circa 8500cr
Repair costs at the station - circa 12,500cr

Something seems wrong to me here. It should surely never be more economical to allow yourself to be destroyed (and get a new ship with all your gear back) than it is to limp home and get all the repairs done.

If that is deliberate then by my calculations assuming a near linear repair cost estimate...

100% repair cost = (100 * 12500) / 90 = 13,889cr
Insurance alternative = 8,500cr

Therefore in future, if my ship integrity drops below 39% (100-((8500/13889) * 100)) then I may as well fight to the death and go down with my ship! (how noble I know).

I recommend that this be changed!
Click to expand...

You also have to factor in the cost/profit of the cargo you may have as this doesn't get replaced when you die.
 

JuJuVyez

JuJuVyez
It sounds like we just want a 'write off' option. If the cost of the repairs is greater than the 'excess', you should have an option to 'write off' your ship and get a new one. Without the need to go down with your ship in combat. And maybe the new ship is like a different color or something :D
 

Noobc0re

N
That seems really janky, and I'm guessing it will become an even bigger problem when you get the really expensive ships?
 

Asrar

A
did you ever buy a printer and changed the empty colours... think of that ;-) its cheaper to buy a new printer hahaha
 

Uueerdo

Uueerdo
I have no problem with how it currently is, but will admit it does seem weird. Since I don't want to pay more on insurance, I would say repair costs should never total more than half (maybe two thirds) of insurance; that way there is always incentive to try to survive.
 

Aedil

A
I don't the insurance system as it is at all because I think you lose too little when your ship is destroyed... Actual ship buy-out price should be at least 50% of the total ship cost including all modules installed.
 

Kitiara

Kitiara
JuJuVyez said:
It sounds like we just want a 'write off' option. If the cost of the repairs is greater than the 'excess', you should have an option to 'write off' your ship and get a new one. Without the need to go down with your ship in combat. And maybe the new ship is like a different color or something :D
Click to expand...

We already have that - it's called "Self Destruct"
 

ash73

ash73
OP you are correct, and in R/L no insurance company would pay out if you deliberately scuttled your ship. People have a status quo bias; vested interests?
 
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