Insurance explained, Insurance 101, Insurance tutorial.
- Thread starter Bid-Rich
- Start date
"Insurance" is really a 95% discount on re-buying your ship. The "re-buy" cost is listed for your current ship on the right hand panel. Never leave the station without funds to cover this amount.
When your ship is destroyed, you have the option to "re-buy" it for the 5% "insurance" cost, or to abandon that vessel (usually a terrible idea) and get a free Sidewinder.
When your ship is destroyed, you have the option to "re-buy" it for the 5% "insurance" cost, or to abandon that vessel (usually a terrible idea) and get a free Sidewinder.
Without going into the details and specifics (I am sure someone else will do that) the simplest thing to do to work out your cost's upon death is to look at the panel on the right in your cockpit.. The screen that shows you your elite rankings, and just below the rankings is a stat the says "Re-Buy cost" that is how much your ship will cost to replace after ship destruction (with the same load out you had before destruction) - there is also a 'Loan' buffer of 200.000cr .. though as I have never gone into that I have no idea if this depletes if dipped into over time.
Ninja'd (or I just type slow)
Ninja'd (or I just type slow)
They also introduced a 200,000 cr loan to help newbies.
Do not rely on this as once you start to get could you ship will be worth more than 200,000 to rebuy.
BASICALLY : ALWAYS HAVE ENOUGH SPARE CASH TO COVER THE REBUY COST SHOWN IN THE LEFT MENU BEFORE LEAVING A STATION
If you don't you WILL loose EVERYTHING if you die and be back to a Sidewinder.
Do not rely on this as once you start to get could you ship will be worth more than 200,000 to rebuy.
BASICALLY : ALWAYS HAVE ENOUGH SPARE CASH TO COVER THE REBUY COST SHOWN IN THE LEFT MENU BEFORE LEAVING A STATION
If you don't you WILL loose EVERYTHING if you die and be back to a Sidewinder.
Your ship is insured for a certain amount of it's total value (including modules).
The amount it is covered for depends on when you bought ED
Alpha - 97.5%
Beta - 96.25%
Release - 95%
The remainder (the excess), you are responsible for covering in the event of ship destruction, this is summarised under your stats panel (the right hand side panel in your cockpit).
NOTE - Added to this excess is the sum of any outstanding bounties on your head at the time of ship destruction, this can significantly increase the amount required to restore you to your former state.*
[SUB]*This may be subject to the 50% additional costs usually incurred when paying off a bounty on yourself, I don't know the answer to that but it's worth making an allowance for.[/SUB]
When your ship is destroyed, an options screen will appear, allowing you to select either a basic sidewinder (if you don't have the funds to cover the excess) or your old ship with all or some of it's previous load out. You can uncheck any modules that you cannot afford to cover at this stage.
You may also choose to take out a loan (maximum 200,000 cr) if you are a small amount short of money to cover the excess. If you choose this option then a percentage of your subsequent earnings will be taken to pay this back, until the loan is repaid in full.
The amount it is covered for depends on when you bought ED
Alpha - 97.5%
Beta - 96.25%
Release - 95%
The remainder (the excess), you are responsible for covering in the event of ship destruction, this is summarised under your stats panel (the right hand side panel in your cockpit).
NOTE - Added to this excess is the sum of any outstanding bounties on your head at the time of ship destruction, this can significantly increase the amount required to restore you to your former state.*
[SUB]*This may be subject to the 50% additional costs usually incurred when paying off a bounty on yourself, I don't know the answer to that but it's worth making an allowance for.[/SUB]
When your ship is destroyed, an options screen will appear, allowing you to select either a basic sidewinder (if you don't have the funds to cover the excess) or your old ship with all or some of it's previous load out. You can uncheck any modules that you cannot afford to cover at this stage.
You may also choose to take out a loan (maximum 200,000 cr) if you are a small amount short of money to cover the excess. If you choose this option then a percentage of your subsequent earnings will be taken to pay this back, until the loan is repaid in full.
Your ship is insured upon purchase no need to pay a premium or visit comparison sites.
Should an event result in the destruction of your ship, the insurance company will furnish you with a replacement providing you can pay an excess of 5% total cost including modules and weapons. An emergency loan of 200,000 cr is available if needed, any payments taken under a loan must be payed off before it can be loaned again. Retrieved as a portion of income for the foreseeable future.
Simples.
Should an event result in the destruction of your ship, the insurance company will furnish you with a replacement providing you can pay an excess of 5% total cost including modules and weapons. An emergency loan of 200,000 cr is available if needed, any payments taken under a loan must be payed off before it can be loaned again. Retrieved as a portion of income for the foreseeable future.
Simples.
This has it all covered.
Remember, this game is harsh. You screw up and you will get punished.
Remember those people you read about in the newspapers who just get married, last night out with the guys, end up with a random lass, new wife walks in...
The lawyers take everything you had. Including your car and shoes. That could be you. All your efforts taken away in the bang of a judge's gavel.
It happens in real life. It happens in ED.
Protect yourself.
One issue that doesn't get the attention it deserves - if you can't afford the rebuy cost of the ship, the game literally steals from you since it also wipes whatever amount you had in the bank and sets you back to 1000 cr along with the Sidewinder. Let's say you have a 100M Anaconda, 4 mill in the bank, and a moment of stupidity. Losing the ship is a tough blow, though it can be argued that the fault is your own. Losing the 4 mill in addition is just plain robbery from the game, probably due to lazy coding.
If nothing else is changed with the insurance issue, I think they at least should fix this.
Edit: I may be wrong about this...
If nothing else is changed with the insurance issue, I think they at least should fix this.
Edit: I may be wrong about this...
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I was not aware of that. Definitely should be fixed.
Something else to point out is that you will lose the cargo you were carrying (this will be written off), as well as any bounties earned or exploration data gained since the last time you docked.
I think its intentional. You die. All you have is lost. Respawning is a way for you to keep rank and reputation. You can clear save at this point as well if you want to.
Have read the whole thread but I'm still not clear on how to insure against this! Any help much appreciated.
