Insurance Options: Request/Suggestion

Aright, I figure people can shoot at me later, BUT... Here goes. With the way insurance is, unless you can cover the rebuy cost, you're pretty much screwed. A thought occurs though...

Insurance option A: as is. You die, you rebuttal or you're stuck in a Sidewinder.

Option B: pre:purchase insurance with your ship valued over 1m, with options to modify covered modules in Contacts>Insurance Agency

Option C: Pay 50% insurance premium for a high value ship (say over 50 million) and 5-10% of your income is automatically deducted with every sale/bounty to keep said insurance. Similar to how paying off a loan works.

In essence: be able to purchase "Insurance loans" so various options exist to ensure commanders aren't left with nothing as well as an added "economic sink". Such would make sure nobody is flying around getting into unexpected accidents with liability only.

In addition: make it so insurance needs to be renewed every few days/weeks/months whatever.
 
This is a great idea. There should also be the option to shoo around for better insurance prices. I only trade and explore so I should be able to pay a private company a percentage of my haul to ensure coverage.
 
there is already an option to take a loan to pay the insurance cost, the negative effect of it as being taking a certain percentage less profits from money
 
I am for a prepurchased insurance option. That would be easier on my psyche instead of hoping that I do not go over the re-buy cost.
 
Yes, a pre-purchased insurance option is a great idea. There should be a separate account screen where you can transfer credits to. On this screen it would show you how many claims you could get for your existing ship for the money (so you could transfer in enough for 2 or more claims for instance). Also, it should give you the option to sell off other ships/and or their upgrades, if you don't have enough in your account.

This would make the whole thing less painful when accidents happen and to ensure you're not 'living beyond your means'. I really hope FD introduce something along these lines in a future update.
 
Wait it is still morning and I had only one coffee... so you are suggesting that we should actually buy insurance like invest in some insurance account? Did I wrote this right? Let me illustrate this in example:

We could have like under contacts "Insurance" where we can click just like we click Pilot's Federation contact.

In this menu we can see:

  • current price of our ship (with all upgrades we eventually install on the ship)
  • amount needed to cover insurance costs for current ship (just like we have on the right panel)
  • how much money we have deposited (we should be able to withdraw it all or some of it)

Now here is a thing - this way we can invest gradually more and more money in this Insurance contact. With it, we can spend all our cash money on whatever but our insurance money will be deposited here. We should be able to have option to withdraw if we so desire but here is another benefit: we just keep increasing this money sink even when we upgrade ships.

Example:

Let's say I have nice Sidewinder and I invest 10000 credits in this insurance. These 10000 are deducted from my cash balance and now are safely stored in Insurance company. So I am out there and I upgrade to Adder. These 10000 in insurance company remain! I can increase it to let's say 15000. Then I got into trading and I spend all my cash money on upgrades and cargo yet still my 15000 insured are there. So I got interdicted and destroyed. I will still have invested 15000 in insurance so I will be able to cover my expenses.



Even if we have multiple ships, it doesn't matter we invest more and more money in this Insurance contact and keep us safe since we will be able to plan how much we can spend on trade, upgrades - whatever. Also I think it is more logical that way.

There could be like fee for withdrawing money from them to make sure players don't abuse the system but use it as intended.


This I understood you correctly or I reinvented the wheel? :S
 
Yeah pretty much. The account would just be a placeholder to keep credits away from the main account - no transaction fees though (if there were transaction fees, it would only be fair if the 'bank' paid interest on these large sums sitting there). And yes, it should be transferable both ways.

It would also be good if there was a way to set a cargo figure somehow to zero the main account and see 'true earnings'. But that may be complicated and asking too much.
 
Wait it is still morning and I had only one coffee... so you are suggesting that we should actually buy insurance like invest in some insurance account? Did I wrote this right? Let me illustrate this in example:

We could have like under contacts "Insurance" where we can click just like we click Pilot's Federation contact.

In this menu we can see:

  • current price of our ship (with all upgrades we eventually install on the ship)
  • amount needed to cover insurance costs for current ship (just like we have on the right panel)
  • how much money we have deposited (we should be able to withdraw it all or some of it)

Now here is a thing - this way we can invest gradually more and more money in this Insurance contact. With it, we can spend all our cash money on whatever but our insurance money will be deposited here. We should be able to have option to withdraw if we so desire but here is another benefit: we just keep increasing this money sink even when we upgrade ships.

Example:

Let's say I have nice Sidewinder and I invest 10000 credits in this insurance. These 10000 are deducted from my cash balance and now are safely stored in Insurance company. So I am out there and I upgrade to Adder. These 10000 in insurance company remain! I can increase it to let's say 15000. Then I got into trading and I spend all my cash money on upgrades and cargo yet still my 15000 insured are there. So I got interdicted and destroyed. I will still have invested 15000 in insurance so I will be able to cover my expenses.



Even if we have multiple ships, it doesn't matter we invest more and more money in this Insurance contact and keep us safe since we will be able to plan how much we can spend on trade, upgrades - whatever. Also I think it is more logical that way.

There could be like fee for withdrawing money from them to make sure players don't abuse the system but use it as intended.


This I understood you correctly or I reinvented the wheel? :S

This is the general gist of option 3, only the added coverage is automatically deducted from your trades and bounties. You pay half of whatever the full insurance cost would be, then additions are subtracted from your earnings.
 
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