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