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Why can't we insure cargo?
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DIsposible Hero
State War Academy
Caldari State
#1 - 2012-05-07 03:05:16 UTC
So often in EVE, the cargo we haul is more valuble than the ship itself, and yet we can only insure the latter. Why is this? Its not like it would be too tricky to code; you'd basically be making a courier contract to yourself, with the insurance company paying the collateral if you get exploded.

Biggest problem I can see would be working out how to properly value the cargo; too low and its not worth buying, too high and people start blowing their own stuff up to save a trip to the market to sell it.
Ris Dnalor
Tribal Liberation Force
Minmatar Republic
#2 - 2012-05-07 03:14:05 UTC
DIsposible Hero wrote:
So often in EVE, the cargo we haul is more valuble than the ship itself, and yet we can only insure the latter. Why is this? Its not like it would be too tricky to code; you'd basically be making a courier contract to yourself, with the insurance company paying the collateral if you get exploded.

Biggest problem I can see would be working out how to properly value the cargo; too low and its not worth buying, too high and people start blowing their own stuff up to save a trip to the market to sell it.



set your own value that you want to insure it for.

Use the characters kill mail history to determine a rate for the insurance.

insurance scammers (or people that just die a whole freakin lot) will quickly find that it will cost 1m isk to insure something for 1m isk ;)

https://forums.eveonline.com/default.aspx?g=posts&t=118961

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Aleksander Erkkinen
Deep Core Mining Inc.
Caldari State
#3 - 2012-05-07 03:15:56 UTC
Use a contracted hauler. Your insurance comes from the collateral. Consider the payout for completion to be the actual insurance fee. Hey, at least you get to set your own rates (assuming you can find a hauler who finds those rates to be worth it).
DIsposible Hero
State War Academy
Caldari State
#4 - 2012-05-07 03:17:36 UTC
Aleksander Erkkinen wrote:
Use a contracted hauler. Your insurance comes from the collateral. Consider the payout for completion to be the actual insurance fee. Hey, at least you get to set your own rates (assuming you can find a hauler who finds those rates to be worth it).


Oh I do; Red Frog ftw, it just seems a shame that haulers can't cover their own losses.
Shian Yang
#5 - 2012-05-07 03:23:02 UTC
DIsposible Hero wrote:
Biggest problem I can see would be working out how to properly value the cargo; too low and its not worth buying, too high and people start blowing their own stuff up to save a trip to the market to sell it.


...

DIsposible Hero wrote:
Its not like it would be too tricky to code


Greetings capsuleer Hero,

I believe you have the essence of it. You have a problem to describe in plain language the parameters that would make this a reasonable and balanced suggestion and yet this is "not tricky to code".

If you propose that CONCORD or one of the empire factions should form an insurance company to insure cargo, try to explain the rules around it first.

It is often described as "rubber ducking".

Regards,

Shian Yang
Pres Crendraven
#6 - 2012-05-07 04:59:27 UTC
ANd how much would you pay for this service?

Meta34me

Corp and Alliance details hidden to protect the innocent.
Lexar Mundi
Imperial Shipment
Amarr Empire
#7 - 2012-05-07 06:12:27 UTC
I just red frog it
Joran Dravius
Doomheim
#8 - 2012-05-07 09:37:52 UTC
Because Eve isn't WoW and there's supposed to be risk.
Luis Graca
#9 - 2012-05-07 09:41:44 UTC
so we can laugh at stuff like this and make it ever worst to him
Andski
Science and Trade Institute
Caldari State
#10 - 2012-05-07 11:21:06 UTC
The amount of ISK that would be injected into the game from "cargo insurance" would be absolutely ridiculous.

Twitter: @EVEAndski

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War Kitten
Panda McLegion
#11 - 2012-05-07 11:39:47 UTC
I will insure your cargo.

Send me an evemail with your cargo, route and destination and I'll get back with you on rates.

I don't judge people by their race, religion, color, size, age, gender, or ethnicity. I judge them by their grammar, spelling, syntax, punctuation, clarity of expression, and logical consistency.
Brooks Puuntai
Solar Nexus.
#12 - 2012-05-07 11:43:17 UTC
Yes lets add more of a isk faucet into the game, when normal ship insurance is already ruining the value of ISK and causing inflation. In the end you should be smart when you move things valuable, don't think moving officer gear in a Itty I is a good idea. No insurance needed, ship or cargo.

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Krixtal Icefluxor
INLAND EMPIRE Galactic
#13 - 2012-05-07 11:54:27 UTC
You can. It's called Collateral on a Courier Contract.

"He has mounted his hind-legs, and blown crass vapidities through the bowel of his neck."  - Ambrose Bierce on Oscar Wilde's Lecture in San Francisco 1882
Destiny Corrupted
Deadly Viper Kitten Mitten Sewing Company
Senpai's Afterschool Anime and Gaming Club
#14 - 2012-05-07 12:03:49 UTC  |  Edited by: Destiny Corrupted
It's not simply about an ISK faucet. The amount of loot that gets destroyed during a kill is random. You can't insure cargo because enough of it might survive that even after the insurance fees, the amount of stuff that survived combined with the insurance payout could exceed the original value of the cargo.

Cargo insurance could only work if all cargo got destroyed during a kill.

Do note that cargo insurance works in real life because unlike in EVE, real-life insurance companies can't print money out of thin air (like the person above said, collateral for player-run courier contracts).

I wrote some true EVE stories! And no, they're not of the generic "my 0.0 alliance had lots of 0.0 fleets and took a lot of 0.0 space" sort. Check them out here:

https://truestories.eveonline.com/users/2074-destiny-corrupted
MadMuppet
Critical Mass Inc
#15 - 2012-05-07 12:25:11 UTC
War Kitten wrote:
I will insure your cargo.

Send me an evemail with your cargo, route and destination and I'll get back with you on rates.


I was thinking the same thing.

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Brettskibols BOLSOVER
Legion of the Scarlett Phoenix
#16 - 2012-05-07 12:33:25 UTC
If its worth other people destroying your ship I think it'd be a shame to get rid of that element of risk, after all it's their risk vs. reward if they get the drop or not on the item so all power to them. Pirate
Malcanis
Vanishing Point.
The Initiative.
#17 - 2012-05-07 12:34:03 UTC
DIsposible Hero wrote:
So often in EVE, the cargo we haul is more valuble than the ship itself, and yet we can only insure the latter. Why is this? Its not like it would be too tricky to code; you'd basically be making a courier contract to yourself, with the insurance company paying the collateral if you get exploded.

Biggest problem I can see would be working out how to properly value the cargo; too low and its not worth buying, too high and people start blowing their own stuff up to save a trip to the market to sell it.



I look forward to seeing the IPO of your player-run insurance business in Market Discussion!


Oh wait, you mean you just wanted a Mulligan when your AFK hauler gets ganked? Sorry, nop.

"Just remember later that I warned against any change to jump ranges or fatigue. You earned whats coming."

Grath Telkin, 11.10.2016
Corina Jarr
en Welle Shipping Inc.
#18 - 2012-05-07 13:07:23 UTC
I run a cargo insurance company. If you wish to insure your cargo, just contact me and we can go over the details.


That is why CCP doesn't make a mechanic for it. Its up to the players (player generated content = best content).
Pinstar Colton
Sweet Asteroid Acres
#19 - 2012-05-07 13:10:53 UTC
Your ship insurance is nullified every time you repackage or contract sale your ship. Would your cargo insurance get nullified every time you tried to move it in our out of your ship? If you were traveling to several systems and gathering a few items at each one, would you have to re-insure your cargo each time?

Even if you came up with a genius pricing model that would be fair while guarding against exploits, the sheer annoyance of re-insuring your stuff each time would make it of dubious worth.

I agree with the above posters in that courier contracts are your best form of 'insurance' for your cargo.

In the cat-and-mouse game that is low sec, there is no shame in learning to be a better mouse.

Mono Ethanolamine
Perkone
Caldari State
#20 - 2012-05-07 13:55:29 UTC
Like a full guarantee of your whole assets?Big smile