Allow vehicle insurance beyond 31 days

[mj2002]

Short description:

 

Remove the limit of 31 days being the maximum of days that you can insure a vehicle for.

Perhaps move the limit to 365 days instead.

 

As an addition, offer discounts on longer insurance periods.

 

Detailed description:

 

So this is boring for most people, so best just skip the stuff below.

 

 

Otherwise,

 

 

 

This was really going to be just a reply to this thread;

 

 

The thread above details a more important suggestion that should have priority over this suggestion.

The above resolves annoying shortcomings, whilst this suggestion merely improves on what is already available.

 

Right now, you can insure a vehicle for 31 days at most. I see no real reason to limit this to only 31 days. This feature is a money sink, and spending money on this should be highly encouraged. As such, this suggestion to either remove the limit entirely, or limit it to 365 days (to avoid expensive mistakes that require refunds). I would have just left it as a reply to the thread above, but I have one further suggestion to add to this that sets this further apart.

 

The underlying design, beyond realism, is to encourage players to spend money on vehicles they already own, as they wish to avoid their characters running the risk of being fined. It is a money sink. To further entice players into making use of this money sink, players can be encouraged further to spend money, for instance by offering a discount on lengthier insurance periods. 

 

Let's say, the insurance on your amazing Dominator GTX (everyone's favorite car obviously, except for all the other cars available on the server) is running out, and you want to insure it. Right now you'd pay $29.000 a month, or around $935 a day. We can make an offer to the player to insure it for two months, for only $52.200. A bargain right? The player saves $5.800! In reality of course, on average, the player will spend more money on insurance in this way, since the chance of the player keeping that car insured for the full two months isn't particularly high.

 

These days, most players insurance their vehicle for only a few days. This is very cost effective, but reduces the effectiveness of the money sink. This is evidenced when we look at how much money was spent on insuring vehicles in the last year.

 

 

 

This goes down particularly after the insurance change of the 29th of August (2020), where players can suddenly choose to insure for only a day.

Even when adjusted for player activity, the downward trend remains. This proves that players are inclined to pursue cost savings when it comes to car insurance.

 

 

We can make use of this and get the best of both worlds, having players spend more whilst they have (the perception of) cost savings.

Offering a discount will encourage players to insure their vehicles for more days. You could offer something along these lines.

 

1 day - 100% of insurance payments

1 month - 100% of insurance payments

2 months - 90% of insurance payments

3 months - 85% of insurance payments

4 months - 80% of insurance payments

5 months - 80% of insurance payments (and no lower the further you go)

 

Now, I don't expect the average Dominator GTX owner to go ahead and insurance his particularly fast sports car for 3 months, paying $73.950 so he can save $13.050 in taxes. However, discounts like these are a proven and effective method of encouraging people to spend more, due to the perception of being able to save expenses in the future.

 

Commands to add:

 

None

 

Items to add:

 

None

 

How would your suggestion improve the server?

 

Improved quality of life, being able to insure a vehicle for longer periods.

Increased effectiveness of the money sink that is vehicle insurance.

Cost savings for long term insurance, or at least the perception of.

 

Additional information:

 

None

Edited August 31, 2021 by mj2002

[Hendrixx20]

+1
This would be great for trucking companies.

[Triple Seven]

Yes, sounds good for a combined suggestion with the quoted topic. Perhaps change the warning from when it's expired to it expiring within a week (or other chosen period) so people know they can renew without there being a gap in the insurance while driving around.

[Farmer]

Love it! Excellent idea. Smart thinking Batman! 

[Late]

MASSIVE +1.

I would insure all the company vehicles for 1 year and get it over with.

 

As it stands i've synced up the insurance to expire on the 1st of every month so I don't forget but this would be a massive and welcome change. I wouldn't even mind if no discount was added, I just want to insure the vehicles and forget about it. I have so much stuff to do IRL and IG I just want one less monthly problem to worry about.

[Tiddy]

Please.

[Lomadias]

I'd love to see insurance claims, increased premiums and alllllll sorts to expand the system but this is an awesome idea.

 

+1!

[Wuhtah]

Implemented.