The ship insurance is plainly wrong - am I the only one to spot this?

Naughtius Maximus

Naughtius Maximus
OK.

So i lose my ASP and have to buy it back.

No big deal - i've got the 300K insurance so back it comes, all spangly and new.

Except it shouldn't...

My ASP as it stands is currently worth 7.7 Million.

If my insurance to buy it back is 300K - whos picking up the tab for the remaining 7.4 million?

The whole thing makes no sense - insurance doesn't work that way - everyone pays into the "pot" and the "pot" pays out when its needed.

So the insurance has to be something that you need to keep buying - ie. it lasts for a month / week or whatever and as long as you are still "covered" - you can replace your ship (though at this time, no cash changes hand because you've already paid:p).
 
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Jpotter

Jpotter
A bit nip-picky, but I'm nit-picky and noticed the same ;)

When I first bought a new ship (Cobra), I was looking all over for where I had to pay for insurance. Then realized I didn't have to...... I immediately just thought - "oh it's salvage costs, not really insurance." I guess technically if they changed the text to "Salvage/rebuild" costs my nit-picky meter would be happy. :)
 

Dante80

Dante80
http://elite-dangerous.wikia.com/wiki/Insurance_costs

If you are unlucky enough to die, be killed, hunted down like the dog you are, or just slammed into a space station by a useless docking computer, then you will be given an opportunity to rebuy your ship by paying an 'insurance' cost relative to the ships purchase cost. The following table shows the approximate purchase and insurance cost for ships and equipment. Also note that the insurance is 5% of the cost of the ship, and all other items.


Ship Purchase Cost (CR) Insurance Cost (CR) Beta Backer1 (-25% CR) Alpha Backer2 (-50% CR)
Sidewinder Mk. I 32,000* 1,600* 1,200* 800*
Eagle Mk. II 44,800 2,240 1,680 1,120
Hauler 52,720 2,636 1,977 1,318
Adder 87,808 4,390 3,293 2,195
Viper Mk. III 142,931 7,146 5,360 3,573
Cobra Mk. III 379,718 18,985 14,239 9,493
Type-6 1,045,945 52,297 39,223 26,149
Asp Explorer 6,661,153 333,057 249,793 166,529
Type-7 17,472,252 873,613 436,807 218,404
Imperial Clipper 22,295,860 1,114,793 836,095 557,397
Federal Dropship 37,814,205 1,890,710 1,418,033 945,355
Orca 48,539,887 2,426,994 1,820,246 1,213,497
Python 56,978,179 2,848,908 2,136,681 1,424,454
Lakon Type-9 Heavy 96,555,842 4,827,792 3,620,844 2,413,896
Anaconda 146,969,451 7,348,472 5,511,354 3,674,236



Upon the destruction of your ship an insurance screen will be displayed showing how much it costs to either repurchase your (now destroyed) ship's loadout or to choose a free sidewinder (loaned to you from the Pilots Federation). If you do not have enough credits to repurchase your old loadout you will be given an opportunity to take out loans up to a maximum of 600,000 credits (this maximum includes unpaid loans the player might have). If for some reason the player cannot repurchase their old loadout even with loans then they will be forced to choose the sidewinder - thus losing their old ship and its loadout.
 
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Garagiste

Garagiste
Eh?
The insurance company pay the rest, that's exactly how insurance works. You paid the premium with the purchase of your ship. What you pay when you claim is the excess / deductible / out of pocket expense.
 

CMDR Holycow

CMDR Holycow
Naughtius Maximus said:
OK.

So i lose my ASP and have to buy it back.

No big deal - i've got the 300K insurance so back it comes, all spangly and new.

Except it shouldn't...

My ASP as it stands is currently worth 7.7 Million.

If my insurance to buy it back is 300K - whos picking up the tab for the remaining 7.4 million?

The whole thing makes no sense - insurance doesn't work that way - everyone pays into the "pot" and the "pot" pays out when its needed.

So the insurance has to be something that you need to keep buying - ie. it lasts for a month / week or whatever and as long as you are still "covered" - you can replace your ship (though at this time, no cash changes hand because you've already paid:p).
Click to expand...
You misunderstand how insurance works in this game. You already pay your insurance in full and up-front when you pay for the ship. Call it, 1 million out of that 7 million you paid out to buy it all. What you pay after you die, is your deductible.
 
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PrometheusDarko

PrometheusDarko
So as you may or may not be aware, Insurance works on the law of large numbers. Multiple people paying into a fund all at once. Now, not everyone paying into that fund will always need the claims money, so when people do, they pay a "deductible" which, in real life, is determined based on statistics and a risk analysis. That is why when you crash your car, you may only need to pay anywhere from $500 to $3,000 USD, depending on your policy and driving history. The monthly payments are where most of the money for these replacements comes from.

Now, let's say that you had to pay the Bank of Zaonce a monthly amount for every ship you own plus a variable deductible based on your risk. Combat pilots deductibles would likely be near 100% of their ship's value.

So instead of being a pain in the gluteus, Frontier decided to take the simplest version of this concept, a percentage deductible paid at the time of "destruction" and ran with it. You can imagine the rest is taken as a percent of your net profits if you want. (i.e. Destroying an Annie in a CZ is really worth 20K Gross Dealer Concession but your "comission" is only 16K)
 
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Iskariot

Iskariot
Naughtius Maximus said:
OK.

So i lose my ASP and have to buy it back.
No big deal - i've got the 300K insurance so back it comes, all spangly and new.
Except it shouldn't...
My ASP as it stands is currently worth 7.7 Million.
If my insurance to buy it back is 300K - whos picking up the tab for the remaining 7.4 million?
The whole thing makes no sense - insurance doesn't work that way - everyone pays into the "pot" and the "pot" pays out when its needed.
So the insurance has to be something that you need to keep buying - ie. it lasts for a month / week or whatever and as long as you are still "covered" - you can replace your ship (though at this time, no cash changes hand because you've already paid:p).
Click to expand...


The fact that this is a game might have something to do with it. :)
But many, many people think this lenient and forgiving system is too harsh as it is and whole herds of them fail to save money for this very reasonable insurance system.
I think it is fine. I am open to change, but the insurance system should not cripple game play. FD did a good job with the current system I feel.
 
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digitalscream

Banned
D
I think it's pretty obvious. What everybody calls "insurance" is actually "insurance excess". You always have an excess to pay on insurance (unless you have the excess itself insured).

The part that's missing (which I think has already been mentioned by FD), in that there's a component of the purchase price of ships and modules which covers insurance on it - just like you would if you took out the extended warranty with PC World.
 

Pendra

P
CMDR Holycow said:
You misunderstand how insurance works in this game. You already pay your insurance in full and up-front when you pay for the ship. Call it, 1 million out of that 7 million you paid out to buy it all. What you pay after you die, is your deductible.
Click to expand...

This. The ship you fly probably worths like 10% of its sell price. The rest is the insurance. When you sell, you receive some of the insurance payment back because you don't need insurance it anymore. They keep 10% to cover expenses.
 

Pendra

P
CMDR Holycow said:
You misunderstand how insurance works in this game. You already pay your insurance in full and up-front when you pay for the ship. Call it, 1 million out of that 7 million you paid out to buy it all. What you pay after you die, is your deductible.
Click to expand...

This. The ship you fly probably worths like 10% of its sell price. The rest is the insurance. When you sell, you receive some of the insurance payment back because you don't need to insure it anymore. They keep 10% to cover expenses.
The 5% is probably half the real replace value of your stuff.
 
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Ydiss

Ydiss
The pilot's federation pay it, you pay the excess.

It's called rebuy cost, not insurance.

And, in fact, it is actually just a death penalty.
 

p.opus

p.opus
If you want to look at it this way, what you initially pay when you purchase the ship or upgrade includes a preset amount of insurance. It would be like including your car insurance for the next x years on your car loan. What you pay in rebuy is your "deductible".

I just look at the fact that the purchase price I pay for anything includes 20 years or pre-paid insurance premiums. My 5% is my deductible.
 

Chaz

Chaz
If it worked like real insurance, we'd also get most of the repair costs paid for accidents that weren't our fault, and my insurance would claim off another CMDR's insurance if he shot me up or crashed into me raising his premium. But it's not real, it's a game. So we get a simplified version of insurance that works quite well in this particular environment.
 

Zplintz

Zplintz
Naughtius Maximus said:
OK.

So i lose my ASP and have to buy it back.

No big deal - i've got the 300K insurance so back it comes, all spangly and new.

Except it shouldn't...

My ASP as it stands is currently worth 7.7 Million.

If my insurance to buy it back is 300K - whos picking up the tab for the remaining 7.4 million?

The whole thing makes no sense - insurance doesn't work that way - everyone pays into the "pot" and the "pot" pays out when its needed.

So the insurance has to be something that you need to keep buying - ie. it lasts for a month / week or whatever and as long as you are still "covered" - you can replace your ship (though at this time, no cash changes hand because you've already paid:p).
Click to expand...

Your purchases include the insurance. You pay the excess when you lose your ship.
 

Defacto

Defacto
I assume that the Pilot's Federation takes a share of your income, and everything, mission rewards, trade prices, etc. Are adjusted to account for this. This is the only way I can make sense of this, at least.
 
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