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EVE New Citizens Q&A

 
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Insurance fraud possible?
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Vladimir Furdik
Viziam
Amarr Empire
#1 - 2012-11-07 20:28:44 UTC  |  Edited by: Vladimir Furdik
Ok, I'm totally new to this game, have done only like 5 missions and I just switched ships. My new ship is an Executioner. The ship's insurance costs over 16 billion or something like that. I really didn't read the acutal numbers, but I believe that I seen the insurance pay out like $52 billion. Again, didn't read the actual numbers, but realized after the transaction was done, and that that after the ship was destroyed, I'd profit like 37 billion profit from getting ganked. Is that possible? Is it legal? Is it against the game rules? Please advise...Thanks...Lol
Ian Isk
Sounds Legit
#2 - 2012-11-07 20:38:26 UTC
Hehe, no those are not actual numbers.

Insurance payout and premiums are based on the average price of the ship. You will have a hard time finding a ship that pays out more in insurance than what you put into it from buying the ship and insurance.

If you happen to come across a cheap ship, you might turn a profit by insuring it and getting it killed, but you would most likely get more money out of just selling the ship on the market.
Vladimir Furdik
Viziam
Amarr Empire
#3 - 2012-11-07 20:43:36 UTC
Ahhhhhh, I see. Just my demented mind at work that's all. Thanks for the response.
J'Poll
School of Applied Knowledge
Caldari State
#4 - 2012-11-07 20:46:31 UTC  |  Edited by: J'Poll
Vladimir Furdik wrote:
Ok, I'm totally new to this game, have done only like 5 missions and I just switched ships. My new ship is an Executioner. The ship's insurance costs over 16 billion or something like that. I really didn't read the acutal numbers, but I believe that I seen the insurance pay out like $52 billion. Again, didn't read the actual numbers, but realized after the transaction was done, and that that after the ship was destroyed, I'd profit like 37 billion profit from getting ganked. Is that possible? Is it legal? Is it against the game rules? Please advise...Thanks...Lol



Look again.

Insurance on a Executioner won't even be near 1 bil let alone 16bil.

More likely to be 16mil...........

Otherwise I would buy a executioner and loose it to my alt, so I can buy more capitals =)

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Lukriss
Caldari Provisions
Caldari State
#5 - 2012-11-07 21:04:55 UTC
J'Poll wrote:
Vladimir Furdik wrote:
Ok, I'm totally new to this game, have done only like 5 missions and I just switched ships. My new ship is an Executioner. The ship's insurance costs over 16 billion or something like that. I really didn't read the acutal numbers, but I believe that I seen the insurance pay out like $52 billion. Again, didn't read the actual numbers, but realized after the transaction was done, and that that after the ship was destroyed, I'd profit like 37 billion profit from getting ganked. Is that possible? Is it legal? Is it against the game rules? Please advise...Thanks...Lol



Look again.

Insurance on a Executioner won't even be near 1 bil let alone 16bil.

More likely to be 16mil...........

Otherwise I would buy a executioner and loose it to my alt, so I can buy more capitals =)


It's a t1 frigate, so I highly doubt it's even that much, maybe 1.6m or even 160k
Vladimir Furdik
Viziam
Amarr Empire
#6 - 2012-11-07 21:16:12 UTC
Yeah, like I said, I wasn't really paying attention, and after I paid for the insurance, I thought back, and said to myself, HUH? But from now on, I'll pay attention to details.. Thanks again for the replies....
Louis deGuerre
The Dark Tribe
#7 - 2012-11-07 21:23:43 UTC
For the record, in the old days people would build ships (shuttles were good for this if I remember), insure them and self-destruct them making more isk than was possible by just selling the minerals to NPC or players.
This was basically the mineral price floor of the market and was possible as insurance payout was fixed.
These days it is no longer the case and insurance payouts will fluctuate depending on market prices. In some instances you will make money this way as it is dynamic but it will be a rare event and spread over a long time.
During the FW loyalty point debacle the Goons managed to do something like this by manipulating the market and then killing their own hideously valuable ships for even more isk than they were worth making billions. That should no longer be possible.
Nanatoa
#8 - 2012-11-07 23:46:24 UTC
Louis deGuerre wrote:
For the record, in the old days people would build ships (shuttles were good for this if I remember)


From October 2009 to May 2010, before insurance got nerfed, people had dedicated production lines building and self-destructing* battleships. And not just one or two battleships, but thousands per day.

*(Or getting them destroyed by CONCORD, gate guns, or other means.)

"Stay the course, we have done this many times before." - (CCP) Hilmar, June 2011