Subdivision of the Austro-Aurora United Bank
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It's happened time and time again--people have had the unfortunate event of losing their most precious and essential tools. Whether it was through dying, permanent theft(person leaving and never coming back), or their tool is broken. Most people find it is the end or complete devastation to lose their tools. The EcoCity Tool Insurance Corporation is here to fix that as the first Star-Tool and Max-Tool Insurance Agency!

What does ETIC cover?
ETIC is responsible* for compensating players for Star Tools or Max Tools that are lost due to either being permanently stolen(i.e. thief leaves and never comes back), dying and items despawn, or the tool breaks.

How to apply for coverage?
Players may apply by filling out an application in the format below and submit it by replying to this thread!

Spoiler: Application format

What is your in-game name?:

What is the type of tool you are requesting for coverage?:

Do you currently own this Star-Tool or Max-Tool?:

What is the item ID#?:

What Insurance plan are you requesting?:

Do you understand and accept the Terms of Coverage?:

Do you understand that in order to receive your insurance policy a forum contract will need to be filled out?:

Do you understand depending on how many applications are pending or if @_Royal_Vulpes_ may be working, your application may be delayed in being processed?:

Spoiler: Claim Application Format

What is your in-game name?:

What type of tool did you purchase a policy for?:

What is your tool ID#?:

How and when did you lose your tool?:

Please provide evidence of your loss (via screenshot or contract link):

Do you understand depending on how many applications are pending or if @_Royal_Vulpes_ may be working, your application may be delayed in being processed?:

Spoiler: ETIC Terms of Coverage

ETIC coverages are to be made official by a forum contract for the protection of the player and for the company. When applying, the first month's or week's coverage must be made within 48 hours of the approval of the forum contract. Players must own their tools in order to apply for insurance. Each policy covers only 1 tool. Players can make their claims anywhere from 2-6 months after applying. The insurance waiting period will depend on the plan a player chooses. Due to the ECC contract rules in needing a timeframe, insurance policies must be renewed between 4-8 months or until a claim is filed.

ETIC DISCLAIMER: ETIC holds the right to deem what incidents may be worthy of being compensated. ETIC holds the right to cancel a policy if a player falls 2 months behind their insurance plan payments or 2 weeks behind their insurance plan payments. In order to have the insurance policy, a player must give consent for @_Royal_Vulpes_ to enquire the location, status, and ability to recover the tool is still around. ETIC holds the right to request evidence or proof (i.e. screenshots[x2 in order to have a record of the date] or contracts) that the item was lost in order to find it reasonable to compensate a player. ETIC holds the right to determine the value of a player's tool. ETIC Policies are subject to change.

Cancellation: If a player cancels their policy, no refunds will be issued. When canceling a policy, if a player has already made a claim, cancels their policy, and then re-applies, the time of their last claim will still continue until the player qualifies to make another claim.

Coverage: The following will be a definition of each area of coverage*:
Permanent Theft - Is covered when a player rents out their tool(s), lets another player borrow their tool, killed by another player(PVP) then steals their items, and leaves the server with no intention of coming back before inactive inventory wipe.

Death - Is covered when a player dies to natural causes within the server(PVE**). Be it by being killed by a mob, drowning, falling, falling to a player's death in the void, burning in lava, or by suffocation. A player will not be compensated if they are killed by another player(PVP**). In that scenario, a player will have to reach out to ECC Staff unless it falls under permanent theft.

Despawn - Is covered if a player dies(PVE**) and their tool despawns before they have the chance to go back to the location of their death or cannot recall where they had died.

Bust - Is covered if a player's tool(s) are destroyed in the instance during a rental, being borrowed, or a player's failure in not paying attention to the tool's durability and does not have ExtCommandsPlus2.

**Definitions of "PVP" and "PVE."
PVP - Player versus Player
PVE - Player versus Environment

Spoiler: Waiting Periods

Policy Waiting Periods For Star-Tools:
Diamond: A player may file a claim after 2 months of coverage. The plan expires 4 months after applying.
Platinum: A player may file a claim after 3 months of coverage. The plan expires 6 months after applying.
Gold: A player may file a claim after 4 months of coverage. The plan expires 8 months after applying.
Silver: A player may file a claim after 5 months of coverage. The plan expires 10 months after applying.
Bronze: A player may file a claim after 6 months of coverage. The plan expires 12 months after applying.

Waiting Periods For Max-Tools:
Diamond: A player may file a claim after 2 weeks of coverage. The plan expires 2 months after applying.
Platinum: A player may file a claim after 3 weeks of coverage. The plan expires 3 months after applying.
Gold: A player may file a claim after 4 weeks of coverage. The plan expires 4 months after applying.
Silver: A player may file a claim after 5 weeks of coverage. The plan expires 5 months after applying.
Bronze: A player may file a claim after 6 weeks of coverage. The plan expires 6 months after applying.

***Warning***
IN ORDER TO KEEP COVERAGE, A PLAYER MUST REAPPLY AFTER POLICY EXPIRES.​

Spoiler: Policy Monthly/Weekly Rates

Star-Tool rates are charged monthly and Max-Tool rates are charged weekly.
*Star-Tool Rates-
Diamond - $150,000
Platinum - $100,000
Gold - $75,000
Silver - $52,500
Bronze - $35,000

*Max-Tool Rates-
Diamond - $3,250
Platinum - $2,800
Gold - $2,100
Silver - $1,680
Bronze - $1,400

*NOTE* Prices are subject to change.

***Disclaimer*** EcoCity Tool Insurance Corporation[ETIC] will hold the full rights to deny an application for any reason because we need to be a responsible insurance agency. Any unrealistic or immature application or attempt to post anything irrelevant to business with ETIC that is posted here will be taken as an act of Trolling/Harassment/Slander. *Note*range of coverage is subject to change.

 

[ETIC UPDATE]

11/10/2019

The following is the current value of tools:
All Max-Tools have a current value of $21,000ECD.
Each value of Star Pickaxes, Fishing Lures, and Melon Swords are $2,100,000ECD
Each value of Star Eff10 Axes and Shovels are $1,800,000ECD

 

[ETIC UPDATE]

11/11/2019

Error fixes and adjustments have been made. Claim applications have been added in(my 2am forgetfulness), and Max-Tool wait periods and prices have been adjusted!!!

 

[ETIC UPDATE]

12/14/2019
$2,000,000ECD have been diverted from AAUB to ETIC as to have a firm backing.

 

[ETIC UPDATE]

12/28/2019

Application fees have been eliminated.

 

@Jdawger, in that scenario, before any claim can be made, in your contract it will state you will give ETIC/myself full authorization to ask the SA team if your tool had despawned. If SA team does locate your tool, they will handle the recovery as usual.

 

bump