Feedback on tire insurance? - The Unofficial BMW M5 Messageboard (m5board.com)

bonehead · 20th July 2006, 17:49

Taking delivery in 2 days. I've seen a few posts mentioning the tire insurance. Anyone purchase this and exactly what does this cover? Is it worth it? Thanks for any input

JamesInLV · 20th July 2006, 17:55

Quote:

Originally Posted by bmwbonehead

Taking delivery in 2 days. I've seen a few posts mentioning the tire insurance. Anyone purchase this and exactly what does this cover? Is it worth it? Thanks for any input

There are some great tire/wheel insurance plans, and some really crappy ones. Just ask your dealer for the information and read ALL of the contract, ALL of the fine print. For example, the one from my local dealers is excellent. At around $600-700, they cover almost any damage to the tires or rims with no deductible and no maximum to the coverage for 4-5 years. I'm sure tire damage is probably pro-rated though for wear like all tire coverage, but blowing one rim will more than pay for the plan.

On the other hand, I got my M5 through BMW of Sterling in VA (with Robert R, rodman31 here on the board). Their policy looks good at face value, but then the fine print reads that there is a lifetime cap on total coverage of $2,000 or so...and the policy costs $500. I just didn't find that to be worthwhile, but others might.

The way I look at it, this car burns through tires reasonably fast. Buy your next set of tires through a place that already gives you all the coverage you could ask for and then you just have to worry about rims, which if you drive carefully enough you're probably not going to bend/break/ruin unless there was a defect to begin with, in which case BMW will cover that within the warranty.

bonehead · 21st July 2006, 01:35

Thanks James

okay, here's the terms my $tealer gave me

$795 (will bring this down some)
5 year
no deductible
NO CAP
covers wheels and tires
if I change tires, will covers those for remainder of term

sounds pretty good. Any thing else I should be looking out for?

LI-M5 · 21st July 2006, 01:42

bonehead that sounds like a relly good deal as long as your not gonna change the stockers!!!

JamesInLV · 21st July 2006, 01:51

Quote:

Originally Posted by bmwbonehead

Thanks James

okay, here's the terms my $tealer gave me

$795 (will bring this down some)
5 year
no deductible
NO CAP
covers wheels and tires
if I change tires, will covers those for remainder of term

sounds pretty good. Any thing else I should be looking out for?

IMO it sounds okay. A little steap on the price considering it doesn't sound like they'll cover any changes to the rims (the one here in Vegas did include that). If that's not an issue, then go for it. Do you happen to know who the underwriting company is for that policy? If they have an "official" brochure, check it out and there might be something on there. You can do a quick search on the Internet about that company and the policy and see if other buyers have had good/bad experiences with them.

bonehead · 21st July 2006, 01:53

good point Neil
I'm not completely set on changing out the stock wheels, but if I do, I should find out if they cover new wheels and not just the OEM's. I imagine if they cover new tires, they would cover new wheels as well. Of course, that's just my naivete....they probably won't. I have to get back to him tomorrow if I want the insurance. I'll be sure to ask beforehand.

bonehead · 21st July 2006, 01:56

CA said he could knock the premium down a bit. Don't know the underwriting company. again, not sure if they would cover new rims, but if they do, I think it would be a pretty good deal.

bmw1986 · 21st July 2006, 02:49

In NY state it is ILLEGAL for a dealer to sell tire insurance. NY state use to sell it years ago and did away with it, but I forget the exact reason off hand. If you purchased the car in the state of NJ however, you can purchase tire insurance. It goes buy basically where the car is bought, not registered. We sell tire insurance also for $795.

e60beast · 21st July 2006, 03:05

bonehead, after finding out the hard way, just a few weeks ago, I would say that depending on the coverage then wheel/tire insurance is worth it. One of the Conti tires alone is about $700, im assuming the wheel to be probably $1000ea... so, just read up on ALL the coverage first. All the posts so far have been very informative - the only I would add is that coverage may not cover curb rashes, however I did have an insurance that covered a curb rash due to weather... ie, hitting the curb after plowing through snow.

Good luck with the car!

cheers

MKRocks · 21st July 2006, 04:34

BTW, you may want to check if it covers curb rash. I looked into this, and the policy offered by BMW of SF excluded curb rash.

mcvaughan · 21st July 2006, 04:44

Curbing is not included in the policy, but I bought it anyway since I live in a city with less than desirable roads. And a new neighborhood, which we can call "Nail City."

unfoundhorsepower · 21st July 2006, 04:48

Here it is Tire and wheel insurance 5 year=595.00--7 year=695.00 no deductable, 3000.00 dollar lifetime max... Well worth it...they dont care if the tires are BALD...oops side wall puncture???while it was sitting at home???oh my no questions...you have new tires. Dent a wheel ???replace or fix its up to you...no questions.....I LOVE AMERICA !!!!!!!!!!!