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Offline Emrayfo


  • Joined: Mar 2010

  • Location:
  • Drives:
Hi All,

Does anyone have Tyre and Rim insurance separate to their normal insurance? Is it worthwhile? For example, Allianz offers this product, as do a few other insurers.

It is separate to your normal comprehensive cover. I'm not exactly sure why it exists when if you have a good comprehensive than this should also cover you for damage to your tyres and rims.  :scratchchin:

I presume some people may opt for this type of insurance in addition to their normal comprehensive insurance if they didn’t want to make tyre/rim claims against their normal insurance that may hike up their premium or affect no claim bonus etc. Not sure.  :confused:

From what I can tell from looking at the Product Disclosure Statements, etc, 'Tyre and Rim Insurance' seems to usually be a three year policy with a one-off premium (i.e. not annual) of $300-$600 depending on provider and level of cover. There is no excess. It covers repairs or replacement of your tyres and rims if they are punctured, suffer a blowout or damaged by road hazards (eg. kerbs, road debris and potholes).

For example, the version offered by Allianz provides the following cover:

Standard: Tyres – $375 maximum per tyre, up to $750 total claims per policy year, with maximum of two replacement tyres per policy year; Rims – $1,100 in total claims per policy year.

Prestige: Tyres – $800 maximum per tyre (including run flats), up to $1,400 total claims per policy year; Rims – $1,100 in total claims per policy year.

Just wondered if anyone on the forum had this type of insurance and what they thought of it.

Cheers,  :)

Emrayfo

 






Offline Emrayfo


  • Joined: Mar 2010

  • Location:
  • Drives:
LOL I can see that no one must have this type of insurance, or any interest in it.

Maybe I will give it a miss... :tilt:

Would still be interested to hear any views or experience that folks may have.   Is it worthwhile, is it a waste of money?

Cheers.



Offline j15


  • Joined: Oct 2006

  • Location: Sydney
Never had wheel insurance, nor have i ever had a claim of any kind so these are just my random thoughts

Wheel insurance seems like a bit of wank. Surely your car insurance should cover this already (mine does from memory) and if you upgraded the rims then you'd just change the policy if you were that worried.

I would also imagine there is an excess to pay aswell if you claim. you've already paid the $300 premium, now you'll stump up some excess, and only get a benefit of up to $1100, hardly seems worth it IMO.

If you use my garden variety BMW for example, a new rim costs $500 and a tyre $170. If all 4 got stolen the benefit wouldn't cover entire replacement, if it was a car accident then surely you'd just put it on the whole claim, if it was some sort of rim failure, I'd just pay $600 to get a new one rather that pay $300 for something that is highly unlikely to happen.



Offline mhh

  • Chief Test Pilot

  • Joined: Feb 2006

  • Location: Adelaide

If you use my garden variety BMW for example, a new rim costs $500 and a tyre $170.

I wouldn't bother with wheel insurance but an exotic and a BMW aren't the same when it comes to wheels. A front rim for my LP640 is over $4000 and a tyre about $1000.



Offline j15


  • Joined: Oct 2006

  • Location: Sydney
I wouldn't bother with wheel insurance but an exotic and a BMW aren't the same when it comes to wheels. A front rim for my LP640 is over $4000 and a tyre about $1000.

Yes, but the OP mentioned that the most you can claim is $1100 a year



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