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EVE New Citizens Q&A

 
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Insurance? I don't get it.
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Charlie Fickle
Republic Military School
Minmatar Republic
#1 - 2013-06-11 11:47:34 UTC
Just started playing 2 days ago. o7.

I got to the Advanced Combat tutorial mission which gives me an Atron (packed with explosives) and tells me to fly it into a structure and let it auto self-destruct.

I take the hint to not fit modules and insure it first - I'm offered 6 insurance levels, the first cost 2200 Isk and pays 22000 Isk for a net profit of 19800 Isk. After that premiums increases by 2200 Isk but the payout only increases by 4400 Isk, with the final 'Premier' insurance costing 13200 Isk and returning 44000 for a net profit of 30200 Isk.

I complete the mission, blow the ship, get the 44K insurance, look at the market with a view to buying a new Atron and see the cost is 280K Isk.

WTF is going on?

1. I thought I read somewhere that suiciding a ship would invalidate the insurance?

2. There is such a poor return on anything other than the basic level of insurance, does anyone actually bother with the higher levels, unless you are absolutely certain the ship is going to die?

3. The payout has no relation to the cost of the ship, without even taking account of the cost of any modules. Did I read it wrong or miss something? Or maybe due to 1. Have I been penalised in some manner?

4. The Insurance is supposed to last 3 months. But it seems to have gone now. Doesn't it roll over to the replacement ship. If it does, is there some special proceedure you have to follow to keep the insurance active, or do you only get one payout?
Forest Archer
Swamp Panthers
SONS of BANE
#2 - 2013-06-11 11:58:25 UTC
1. When you use the ship to suicide gank yes but this is a new player mission.
2. Personal preference.
3 insurance is based on hull mineral cost but gets updated on a rare irregular bases.
4. Only lasts on one ship and can get invalidated if traded.

Always willing to help all you have to do is ask, though if you're in the other fleet I may not help the way you want. Just a heads up. Pub Channel: Lost Souls Trading Post
Ace Menda
Gemini Lounge
#3 - 2013-06-11 12:10:42 UTC
Charlie Fickle wrote:
Just started playing 2 days ago. o7.

I got to the Advanced Combat tutorial mission which gives me an Atron (packed with explosives) and tells me to fly it into a structure and let it auto self-destruct.

I take the hint to not fit modules and insure it first - I'm offered 6 insurance levels, the first cost 2200 Isk and pays 22000 Isk for a net profit of 19800 Isk. After that premiums increases by 2200 Isk but the payout only increases by 4400 Isk, with the final 'Premier' insurance costing 13200 Isk and returning 44000 for a net profit of 30200 Isk.

I complete the mission, blow the ship, get the 44K insurance, look at the market with a view to buying a new Atron and see the cost is 280K Isk.

WTF is going on?

1. I thought I read somewhere that suiciding a ship would invalidate the insurance?

2. There is such a poor return on anything other than the basic level of insurance, does anyone actually bother with the higher levels, unless you are absolutely certain the ship is going to die?

3. The payout has no relation to the cost of the ship, without even taking account of the cost of any modules. Did I read it wrong or miss something? Or maybe due to 1. Have I been penalised in some manner?

4. The Insurance is supposed to last 3 months. But it seems to have gone now. Doesn't it roll over to the replacement ship. If it does, is there some special proceedure you have to follow to keep the insurance active, or do you only get one payout?


1. That is the case for suicide ganking, not for the tutorials.

2. personal preference. I for one, never insure any of the ships, cause 9/10 times they are lost just after the insurance ends.

3. Payout is based on the mineral prices to build the ship. These are updated once in a while. Modules fitted are never part of the insurance, because you can change fits etc. so insuring the modules will be very very very hard.

4. No. You insure a ship, not multiple ships with it. Only one payout, if you loose your ship or the 3 months pass, you have to buy a new insurance.

Are you in need of some nice chat? Are you new and want some help? Look no further and join: Crazy Dutch Guy
Chal0ner
Hideaway Hunters
The Hideaway.
#4 - 2013-06-11 12:24:10 UTC
2. If you stay long enough you may end up in 0.0 where Alliances have "Ship replacement funds".
Premium insure your ship, report the loss to your allaince and enjoy getting (almost) the whole sum back from Insurance and Alliance.

Will keep the sov war running that much longer.
RomeStar
Caldari Provisions
Caldari State
#5 - 2013-06-11 17:25:46 UTC
Chal0ner wrote:
2. If you stay long enough you may end up in 0.0 where Alliances have the ability to lock all your stuff in their Station after you have moved it and are then kicked from the corp.



Here I fixed that for you.

Signatured removed, CCP Phantom
Thomas Builder
Center for Advanced Studies
Gallente Federation
#6 - 2013-06-11 18:00:58 UTC
Charlie Fickle wrote:
3. The payout has no relation to the cost of the ship, without even taking account of the cost of any modules. Did I read it wrong or miss something? Or maybe due to 1. Have I been penalised in some manner?
Welcome to the tiercide.

As others have written, insurance is based on the mineral cost of the hull.
It does, however, not take into account the "extra" materials that were added for tiercide.

History lesson: in the past, EVE frigates had "tiers", there were very cheap, very weak frigates (the Atron was one of them) and more expensive, better frigates. But that didn't work out that well, as everyone was flying the best frigates. So CCP changed it, raised the construction cost of the cheap frigates and made them as strong as the best frigates, while given them bonuses for specific roles.

However, players might have exploited this by building ships before the change and then a) reprocessing them after or b) blowing them up to collect the higher insurance. That's why there are "extra" materials for construction that you don't get back from reprocessing and which aren't used to calculate insurance. But they do affect the build price and thus the price they are sold.

And that's why it has become almost pointless to insure the previously cheap ships, as the insurance is still based on their previous price.
Matalino
#7 - 2013-06-11 18:12:27 UTC
Charlie Fickle wrote:
2. There is such a poor return on anything other than the basic level of insurance, does anyone actually bother with the higher levels, unless you are absolutely certain the ship is going to die?


2.) It is up to you to estimate the odds of losing your ship. Whatever you pay for additional insurance you will get 2x that back if you lose the ship.

It doesn't really matter what the ship is worth. Don't think of insurance as a way to replace your ship. Think of it as placing a bet against yourself: if you lose the ship you win the bet.

What matters how likely you are to lose it and how much hassle it is to purchase the insurance. If the odds of losing the ship are greater than 50% during the next 3 months and purchasing the insurance is not a hassle, then buy the full insurance. If you are unlikely to lose the ship or traveling to a station with insurance services is too much hassle then don't bother with any extra insurance.
Merouk Baas
#8 - 2013-06-11 18:52:28 UTC
Don't let the word "insurance" confuse you. It's not. Nobody would insure a ship knowing that it'll get blown up with 100% certainty.

It's just a system to give the players some money back when they die, and lessen the death penalty.

And, as it's been said above, it's rarely updated and doesn't really keep up with the player economy. The Tech 2 ships are even worse, as they cost a lot more and require salvage and other parts to be produced, so their "mineral" value is low but their actual value is in the hundreds of millions.
Charlie Fickle
Republic Military School
Minmatar Republic
#9 - 2013-06-12 12:05:24 UTC
Thanks all. I guess my confusion is based on trying to apply RL insurance experiences to Eve and that just doesn't work. So it's really just a bit of a cushion when you land on your bum. How many times and how often you fall down, is the variable that decides whether it is worth it or not.
Boomhaur
#10 - 2013-06-12 12:52:41 UTC
Last time I bought insurance was sometime when I started years ago, I lose ships very rarely and when I do it tends to be past the 3month mark or T2 and insurance is crap for those.

Welcome to Eve. Everyone here is an Evil Sick Sadistic Bastard who is out to get you. Anyone who tells you otherwise is either trying to scam you or use you.