Written by Tim Marsh:
If there is one thing that can ruin even the best day, it is a flat tyre. In fact, depending on your location and plans at the time, a flat tyre can ruin your entire week!
Not only does this inconvenience prevent you from getting to wherever you were going, the unexpected cost can force you to default on other obligations, post-pone a long-awaited vacation or beg friends or relatives for financial help.
When you consider that an average tyre can cost anywhere from $300 to $1100, depending on the size and brand you buy, it is
understandable that many people regard tyre and rim insurance as one of the best values on the insurance market.
Coverage Pays for Itself
For less than $1100 per year, the cost of one tyre in some cases, you get the security of knowing that your tyre and rim will be repaired or replaced and you will be safe, no matter where the incident occurs.
In fact, tyre & rim insurance covers towing and even emergency accommodation if you are far from home.
Not all threats occur miles from home; some of the most significant threats to your tyres are just outside of your front door. We have had a few clients who take this out when someone in their street does a major renovation or extension to their property.
Often nails and other bits of building material that can destroy tyres end up in the street and sure enough a lot of neighbours get punctures when driving past with no chance of recourse. In fact, one such client had 3 punctures in just one year. So it is clear that in similar circumstances, even the most routine daily errands or a simple trip to work could result in substantial costs.
Now, you may be saying, “Alright, I understand the need for tyre insurance, but why rim insurance?”
The fact is that sometimes a flat tyre effects more than just the tyre. For example, if you hit a pot hole and burst your tyre, there is a chance that you could crack the alloy rim.
Another scenario in which you may incur damage to your rim is if you accidentally run over a curb and while these two scenarios may seem preventable there are always unforeseen events that cannot be avoided. Additionally in inclement weather, tree limbs and other items can be displaced, wreaking havoc on your rims.
Therefore tyre insurance alone is not always sufficient. Tyre & rim insurance is necessary to provide the best protection.