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Mon Palae
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Posted - 2005.03.03 15:37:00 -
[1]
Doubtless this has been done before but I cannot find it so here it is again (presumably).
A few days ago I insured my Raven with Platinum Insurance. Cost was ~32 million. I promptly got my Raven blown-up after that (sad but I am not griping about that...my own dumb mistake). Insurance payout was ~108 million ISK. Unfortunately, everywhere I look Ravens are on the market for ~128 million ISK (some minor variance up and down in there but about that).
So how is it my 100% insurance payout is in reality more like an 84% payout based on the value of the ship (if you factor in the cost of the insurance as well I actually netted a 45% payoff on my 100% insurance)? I would think the game would look at the prices of Ravens (in this case) on the market and average out the price and set the payout there but that does not seem to be the case.
Anyone know how it works?
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Dust Puppy
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Posted - 2005.03.03 15:38:00 -
[2]
Edited by: Dust Puppy on 03/03/2005 15:37:50 It's on mineral prices that npc's pay afaik. __________ Capacitor research |
Minnky
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Posted - 2005.03.03 15:38:00 -
[3]
Insurance sucks ...
I never use it, waste of money, I'd much rather put the 32 Mill sik towards the next one, as I 'always' have my ship after the end of the insurance period - it's so damn short! C'mon, at least make it a 6 month period ...
:)
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Discorporation
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Posted - 2005.03.03 15:39:00 -
[4]
It looks at NPC mineral values.
If it used avg sell price, it'd be fairly easy to take gazillions of shuttles, place sell orders for each at around 2^100 isks, upping the avg market price FAR beyond what they're really going for, and insuring -> self destructing shuttles 'till your wallet is full.
[Heterocephalus glaber]
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Discorporation
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Posted - 2005.03.03 15:40:00 -
[5]
Originally by: Minnky Insurance sucks ...
I never use it, waste of money, I'd much rather put the 32 Mill sik towards the next one, as I 'always' have my ship after the end of the insurance period - it's so damn short! C'mon, at least make it a 6 month period ...
:)
A lot of people on these forums will suggest burning you at the stakes for that comment
(I'm one of them \o/)
[Heterocephalus glaber]
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Mon Palae
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Posted - 2005.03.03 15:45:00 -
[6]
Originally by: Dust Puppy Edited by: Dust Puppy on 03/03/2005 15:37:50 It's on mineral prices that npc's pay afaik.
That makes sense but CCP is ignoring the cost of a BPC to make one here which seems not right as it is just as necessary as the minerals to make an item.
I checked BPC costs for a Raven and they were 9 million for a one run. In comparison I saw Apoc BPCs (same ME or near enough) for 2 million.
Granted the BPC alone does not account for the whole price differential here but I wonder if the game assumes the person building one has a 100 ME BPC. With a lower level BPC it is quite possible the cost of BPC plus the extra minerals needed to build the item start zeroing in on the price difference (then add profit for the builder and you have it all I'd think).
This kinda stinks for those of us who are not builders of a given item and must purchase off of the market (I know people who will build one for me but my point still stands).
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Mon Palae
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Posted - 2005.03.03 16:15:00 -
[7]
Originally by: Discorporation If it used avg sell price, it'd be fairly easy to take gazillions of shuttles, place sell orders for each at around 2^100 isks, upping the avg market price FAR beyond what they're really going for, and insuring -> self destructing shuttles 'till your wallet is full.
I can see the issue here but it seems it could be easily sorted.
For example:
100% payout should be the average price of that ship on the market with an upper value capped at (say) 125% of the mineral value. This way even if people did as you suggest they would never make a profit by doing it (minerals plus insurance cost would always be more than the payout) This way the payout would more closely approach the 100% payout you supposedly bought with your insurance.
Mostly this all comes from the shock I got out of all of it. Losing the ship was bad enough but I was thinking, "Well, at least I bought insurance for it and can get a new one no problem." Bit of a drag to see not only am I out the 32 mil I just paid for insurance but an additional 20 mil as the payout did not reflect what it costs me to get a new ship (not even considering cost of module replacement). Certainly the insurance mitigate my loss but it stings worse than I thought it would (and yes it should sting...just stung more than I thought it would).
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Basileus
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Posted - 2005.03.03 16:39:00 -
[8]
Although I did ensure my Raven, I think it is *******s to do so. The mods alone are worth way more than the ship. You cannot ensure those...
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Horton Nash
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Posted - 2005.03.03 17:04:00 -
[9]
Originally by: Discorporation If it used avg sell price, it'd be fairly easy to take gazillions of shuttles, place sell orders for each at around 2^100 isks, upping the avg market price FAR beyond what they're really going for, and insuring -> self destructing shuttles 'till your wallet is full.
You could eliminate that by performing a statistical function such as an interquartile mean or by weighting the prices.
Failing that you could also take the insurance payout to be the median value.
Any of these three methods would be a better method of calculating the insurance payout.
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marioman
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Posted - 2005.03.03 20:16:00 -
[10]
I dont think using the item itself would be as good as making a general insurance system the uses the average price of the stuff used to build it, dynamically.
1) this would ease the load instead of having the insurance system reading from each item and having seperate calculation, everything you insure would just the avg minerals prices 2) if tech 2 components were included this would also fix the "100% 3.5m payout of a 20m Harpy" senario
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Discorporation
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Posted - 2005.03.03 20:26:00 -
[11]
Originally by: Horton Nash
Originally by: Discorporation If it used avg sell price, it'd be fairly easy to take gazillions of shuttles, place sell orders for each at around 2^100 isks, upping the avg market price FAR beyond what they're really going for, and insuring -> self destructing shuttles 'till your wallet is full.
You could eliminate that by performing a statistical function such as an interquartile mean or by weighting the prices.
Failing that you could also take the insurance payout to be the median value.
Any of these three methods would be a better method of calculating the insurance payout.
However, using NPC mineral prices is much easier on the server
[Heterocephalus glaber]
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Horton Nash
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Posted - 2005.03.04 10:29:00 -
[12]
Originally by: Discorporation
Originally by: Horton Nash
Originally by: Discorporation If it used avg sell price, it'd be fairly easy to take gazillions of shuttles, place sell orders for each at around 2^100 isks, upping the avg market price FAR beyond what they're really going for, and insuring -> self destructing shuttles 'till your wallet is full.
You could eliminate that by performing a statistical function such as an interquartile mean or by weighting the prices.
Failing that you could also take the insurance payout to be the median value.
Any of these three methods would be a better method of calculating the insurance payout.
However, using NPC mineral prices is much easier on the server
Easier it may be, but you could perform the statistical function at a random point once per day, or even once per week.... which would also be easy on the server.
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Avon
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Posted - 2005.03.04 10:40:00 -
[13]
Best way to 'carebear' insurance is to have it give you the insured ship back (not mods).
Not sure what good it would do though, although it would be interesting to see 40% of a Raven. ______________________________________________
Never argue with idiots. They will just drag it down to their level, and then beat you through experience. |
Wahad Bredkebir
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Posted - 2005.03.04 12:33:00 -
[14]
Edited by: Wahad Bredkebir on 04/03/2005 12:34:35 Insurance should be paid with minerals/components not isk.
http://minmatars.are.free.fr |
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