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EVE New Citizens Q&A

 
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Does anyone bother with insurance if the ship 'might not' be destroyed?
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Thomas Builder
Center for Advanced Studies
Gallente Federation
#21 - 2013-10-01 19:42:28 UTC
As I wrote earlier: don't think of it as insurance, think of it as a bet that you'll lose the ship.

Taking your example: 1 mil for ship, 3 mil for gear and 300k for platinum insurance, payout 1 million.
After that ship is destroyed, you are down 3.3 millions.

Same ship, no insurance, basic payout 400k.
After that uninsured ship is destroyed, you are down 3.6 millions.

The difference isn't huge, but it's free ISK. If your ship has a higher than 50% chance to be destroyed in the next 12 weeks, take the insurance. It doesn't matter whether the payout is similar to the ship's value or much lower. Of course, it's nicer if it's closer to the ship's value, but in any case you gain more ISK by being insured.
manutari
Doomheim
#22 - 2013-10-01 19:50:11 UTC
Let me explain it a better way.

I automatically get 40% no matter what. So I am getting something back. But to get anything higher than 40% (which is a payout of 50 – 100 %), I have to pay into it, which is not permanent, it expires and requires renewal. Now, Lets say I go for Platinum which is supposedly 100%. (and is usually not cheap compared to the basic coverage). We can then say: ok, I get 100% cost, but if I remember, this is based on the price of minerals? Which isn't market priced minerals if I remember. So it's a set price. Either way, It has been my personal experience that I have never got back what I paid for it as the cost of the ship is not always equal to the cost of the minerals which form the ship, and I lost the cost of the insurance price as well if I paid into it. So, the cost of insuring also adds to the total price you spent on the ship and increase each time you renew every 3 months or so when/if it expires.
Now, if you want to argue, something is better than nothing, then ok, perhaps it is, but I am still paying into something which tacks on to an amount that I am never going to see again no matter what.

I have never got the cost back in what I have spent on the Ship + all of the equipment I put into the ship. So I just save the money I would have spent on insurance for something else and gladly accept the default 40%

I still get ISK out of it anyways, right? Just maybe not as much.
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