Tire and Wheel Insurance?
#31
I bought the wheel insurance for peace of mind - I figured I would drive the car hard when possible, which I do, so for the cost of the policy I have one less thing to worry about. This is a simple cost benefit analysis and for me the benefit outweighed the cost.
I don't plan to wreck the car, but I have comprehensive auto insurance too....
I don't plan to wreck the car, but I have comprehensive auto insurance too....
#33
Guys, can someone advice on using Fidelity W&T Insurance company for Porsche cars? Anyone has had any experience with them? Google seems to bringing up pretty nasty results ....
#34
I purchased a Safe-Guard policy, had a wheel replaced $1600+, key replaced $300+ and ding fixed $75. It more than paid for itself in 18 months and it is a 60 month policy. I paid $1321 for the policy.
For the wheel claim I had to get past the phone answerers and "beat up" the "managers" after their wheel repair shop initially did a poor repair job on the wheel then did a great job of painting it...the wrong color. They then agreed to pay for a new wheel.
Appreciate that they are going to try to cheap out on every single claim.
I would have rather not purchased it, but considering the low profile tires and expensive wheels, I did.
Last edited by rnl; 05-01-2014 at 09:42 AM.
#35
Recognizing that this is an old thread, figured I would chip in my thoughts. I agree with all the folks here who believe that point of sale insurance policies are a racket. But given the 20s, expensive tires and horrible Houston roads, I opted for the $1200 wheel/tire replacement policy with five years of coverage.
Four days later I got a nail in my driver's side rear tire. The policy hadn't even been entered into the system yet. But the tire was replaced no questions asked, and so the policy has almost paid for itself already (tire was $650 plus labor).
The dealer said they have a guy who has had 21 claims under the policy. After a few incidents they start sending an adjustor to verify, but every one of his has checked out, and resulted in a full wheel or tire replacement.
Four days later I got a nail in my driver's side rear tire. The policy hadn't even been entered into the system yet. But the tire was replaced no questions asked, and so the policy has almost paid for itself already (tire was $650 plus labor).
The dealer said they have a guy who has had 21 claims under the policy. After a few incidents they start sending an adjustor to verify, but every one of his has checked out, and resulted in a full wheel or tire replacement.
#37
I recently bought my pre-owned 991 (February, 2014). I checked into the W & T road hazard and thought for $1300 for a 5 year unlimited mileage policy it was worth it. Our roads here in Michigan are terrible. After I told the dealer to go ahead and read over the contract, it had a maximum benefit of $5,000 for the life of the policy contract. A $1300 investment for a $5,000 max. benefit is NOT a very good bet in my book. I opted to pass and cross my fingers every time I drive the 991.
#39
which insurance company is this with? I dont want any headaches and would just like a replacement in case of road hazards
#40
Now, if you tear the sidewall that's a definite replacement, but it's not usually the case (and even so you would have to do that 2-3x times just to break even on the insurance).
Finally, Tirerack sells road hazard insurance for something like $10 per tire so think about that versus the $1000+ for the third party policy.
Last edited by KonaKai; 05-02-2014 at 11:17 AM.
#41
I understood that the tires aren't supposed to be repaired, so a replacement is necessary if you get a nail. That's why I bought the wheel and tire insurance. With all the construction that's happening in our city, I got two screws/nails in my other car last year.
#42
To replace a tire with a nail in the center tread that is otherwise good is, IMHO, a waste of money.
#45
It's funny to me that when you read the comments on a thread like this, you would think insurance companies are out of their minds offering this coverage, as virtually everyone who gets it, more than gets his/her money's worth. ;-)
My personal take, having had risk management as one of my responsibilities in a corporate job long ago, is that you should self insure any loss that you can readily absorb. And I do that. But if your peace of mind is impacted thinking that you are going to bend a $1000 wheel or ruin a $600 tire every time you slide behind the wheel of your baby, then financial logic is not what you are looking for.
I will admit to having a few reservations about declining the insurance after our wicked winter here and the ensuing potholes. Things seem to be getting filled in though, and I am careful. So far so good.
My personal take, having had risk management as one of my responsibilities in a corporate job long ago, is that you should self insure any loss that you can readily absorb. And I do that. But if your peace of mind is impacted thinking that you are going to bend a $1000 wheel or ruin a $600 tire every time you slide behind the wheel of your baby, then financial logic is not what you are looking for.
I will admit to having a few reservations about declining the insurance after our wicked winter here and the ensuing potholes. Things seem to be getting filled in though, and I am careful. So far so good.