Elite Dangerous: Insurance

Always keep at least 10% of ship price in cash

Insurance will cost you 5% of ships price and 5-10% of each module or weapon you have installed on the ship.

Never spend all your money on commodities if you are trading, always keep 20-30% for unexpected situations, you can crash your ship in numerous ways and lose everything.

How does ship insurance work?

When your ship is destroyed, you can choose to receive a free Sidewinder identical to what you started with the first time (with light armor and one pulse laser). You will keep all your money and can get a free Sidewinder as often as you like.

If you choose to receive your old loadout again, the sum of money displayed will be removed from your account, and you will respawn with a ship and equipment identical to what you had before it was destroyed, fully repaired. If you don't have enough money, you can only receive the free Sidewinder (later you will be able to loan money in order to keep your old loadout when you are broke).

Regardless of your choice, you will respawn at the last station where you have docked.

Bounty

If your ship is destroyed and you spawn at starport where you have a bounty you will have that entry at your insurance screen and failing to pay it will result loss of a ship.