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Insurance rip off.
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Dai en Chasteaux
The Blind Ones
#1 - 2011-09-19 14:38:07 UTC
I know the big companies make the rules, but! After jumping 11 gates to get the best price on a ship, I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.

With the amount of levels of insurance offered, I would hope that paying the highest would simply replace the ship I have lost.

Ok, maybe I/we would have to go and get it from the same place as I took out the insurance, but if you go the most expensive, you should get a better service.

After all, the game makers want us new guys to get used to losing ships.

Any thoughts?

Dai.
Puss in Boots
Naked Moon Industries
#2 - 2011-09-19 14:49:42 UTC
Dai en Chasteaux wrote:
I know the big companies make the rules, but! After jumping 11 gates to get the best price on a ship, I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.

With the amount of levels of insurance offered, I would hope that paying the highest would simply replace the ship I have lost.

Ok, maybe I/we would have to go and get it from the same place as I took out the insurance, but if you go the most expensive, you should get a better service.

After all, the game makers want us new guys to get used to losing ships.

Any thoughts?

Dai.



No...

It used too, infact, at one point it was paying out more than the ship was worth + cost of insurance. People would build or buy ships, insure them and self destruct them. It's better this way for many other reasons.
Skippermonkey
Deep Core Mining Inc.
Caldari State
#3 - 2011-09-19 14:55:28 UTC
Dai en Chasteaux wrote:
I I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.
...
Any thoughts?


Yes, you are going to love t2 ships!

also, get over it and be glad you have an insurance option at all

the REAL rip off is insuring a ship that you can have 100% certainty that you will lose, be glad that they dont scale your insurance costs based on previous ship losses.

COME AT ME BRO

I'LL JUST BE DOCKED IN THIS STATION
Usurpine
Imperial Shipment
Amarr Empire
#4 - 2011-09-19 14:55:40 UTC
For some ships it was like this in the past, those ship were used by suicide gankers who blow up their targets and concord blew them up and they were still making profit with their insurance.
People also used to build ships and did insurance frauds just to convert minerals into isk instead of hauling it to a market place and sell, it was easy.
Malcom Dax
Sebiestor Tribe
Minmatar Republic
#5 - 2011-09-19 15:05:00 UTC
Skippermonkey wrote:
be glad that they dont scale your insurance costs based on previous ship losses.


Lol. That would make life interesting. P

Also, if it makes you feel better about it, think of that 15% you don't get paid out as the deductable part of your insurance.

.
Dai en Chasteaux
The Blind Ones
#6 - 2011-09-19 15:59:05 UTC
Yes there are a lot of 'deductables' around here.

I didn't know about the scams, but I can see why they have tried to stop them.

The previous losses idea would also fix that.

Thanks,

Dai.
Sugilite
Perkone
Caldari State
#7 - 2011-09-19 16:32:42 UTC
Dai en Chasteaux wrote:
I know the big companies make the rules, but! After jumping 11 gates to get the best price on a ship, I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.

With the amount of levels of insurance offered, I would hope that paying the highest would simply replace the ship I have lost.

Ok, maybe I/we would have to go and get it from the same place as I took out the insurance, but if you go the most expensive, you should get a better service.

After all, the game makers want us new guys to get used to losing ships.

Any thoughts?

Dai.



I'll sell you better insurance, 100m up front and I'll insure all sub-battleship hull losses of the next month, just send me a api-verified killboard link in an evemail for any loses. PvE loses are not covered in this plan.
Orlacc
#8 - 2011-09-19 16:47:57 UTC
Insurance is calculated from the price of the minerals that make the ship.

"Measure Twice, Cut Once."
Dorian Wylde
Imperial Academy
Amarr Empire
#9 - 2011-09-19 16:52:46 UTC
Skippermonkey wrote:
Dai en Chasteaux wrote:
I I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.
...
Any thoughts?


Yes, you are going to love t2 ships!

also, get over it and be glad you have an insurance option at all

the REAL rip off is insuring a ship that you can have 100% certainty that you will lose, be glad that they dont scale your insurance costs based on previous ship losses.



Thats a million dollar idea.
Wa'roun
The Scope
Gallente Federation
#10 - 2011-09-19 17:27:25 UTC
Be glad you don't pay for insurance like IRL, paying monthly based on levels of coverage.
PVPer? Your insurance rate would be higher based on risk factors and frequency of losses.
Exhumer miner? Insurance rate slightly higher than a farming L4 runner based on gank risk.
Tandros Kreel
Native Freshfood
Minmatar Republic
#11 - 2011-09-19 21:14:03 UTC
Skippermonkey wrote:
Dai en Chasteaux wrote:
I I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.
...
Any thoughts?


Yes, you are going to love t2 ships!

also, get over it and be glad you have an insurance option at all

the REAL rip off is insuring a ship that you can have 100% certainty that you will lose, be glad that they dont scale your insurance costs based on previous ship losses.


i would be screwed.
i have yet to get a kill on this character and hes over a year old.
NoNah
Hyper-Nova
#12 - 2011-09-19 21:21:22 UTC
Dai en Chasteaux wrote:
I know the big companies make the rules, but! After jumping 11 gates to get the best price on a ship, I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.

With the amount of levels of insurance offered, I would hope that paying the highest would simply replace the ship I have lost.

Ok, maybe I/we would have to go and get it from the same place as I took out the insurance, but if you go the most expensive, you should get a better service.

After all, the game makers want us new guys to get used to losing ships.

Any thoughts?

Dai.


If you produce your own ship, with minerals you mine yourself, using moongoo you extracted yourself, sleeper artifacts and relics you found and cracked yourself, from bpos you alredy owned and copied yourself the insurance payout is a frikking moneyprint.

On the other hand, going with your idea wouldn't be bad. If I got what I paid for the ship I'd be a billionaire by producing badgers, buying them off may alt at 700m a pop and then selfdestructing it. The minerals used to produce them is like 500k each, but who cares I still paid 700m for it!
Jesus Rambo
Criterion.
Pandemic Legion
#13 - 2011-09-19 23:35:44 UTC
NoNah wrote:

If you produce your own ship, with minerals you mine yourself, using moongoo you extracted yourself, sleeper artifacts and relics you found and cracked yourself, from bpos you alredy owned and copied yourself the insurance payout is a frikking moneyprint.


Minerals I mine are free!
Malcanis
Vanishing Point.
The Initiative.
#14 - 2011-09-20 08:16:30 UTC
Dai en Chasteaux wrote:
I know the big companies make the rules, but! After jumping 11 gates to get the best price on a ship, I find that the most expensive insurance, only pays out about 85% of what I just paid for said ship.

With the amount of levels of insurance offered, I would hope that paying the highest would simply replace the ship I have lost.

Ok, maybe I/we would have to go and get it from the same place as I took out the insurance, but if you go the most expensive, you should get a better service.

After all, the game makers want us new guys to get used to losing ships.

Any thoughts?

Dai.



I use my alt to make a T1 frigate. My alt sells it to my main for 5 billion ISK (this is all my ISK). My alt then transfers the ISK back to me, and I insure my frigate for 5B, spending about 2B on the premium. I then "accidentally" lose the frigate to belt rats, and immediately get a 5B insurance payout. I now have 8 billion ISK total. My alt sells then sells me another frigate, this time for 8 billion ISK...

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

Grath Telkin, 11.10.2016
Henry Haphorn
Killer Yankee
#15 - 2011-09-21 01:54:42 UTC
This service is brought to you in part by Geico. It's so easy a Minmatar can do it.

Adapt or Die
Maxpie
MUSE LLP
#16 - 2011-09-21 19:30:24 UTC
Wa'roun wrote:
Be glad you don't pay for insurance like IRL, paying monthly based on levels of coverage.
PVPer? Your insurance rate would be higher based on risk factors and frequency of losses.
Exhumer miner? Insurance rate slightly higher than a farming L4 runner based on gank risk.


Not to mention that rl insurance will not cover for acts of war or damage caused during the commission of a crime (take that suicide gankers). In other words, insurance would pretty much never pay out.

Personally, I would remove insurance entirely. At a minimum ships destroyed by Concord should not get a payout.

No good deed goes unpunished