[T1M3LESS]

I know there have been numerous threads on this already but I'm on the verge of cancelling/taking off my wheel/tire insurance.

I purchased the insurance last year when I took delivery of my F30. Main reason for purchasing was mainly for the run flats, lower tire profile, and of course larger wheels --- didn't have that much experience driving a vehicle, a sedan for that matter, with larger/more aggressive wheel/tire set up. Been driving an SUV since we moved to NJ.

Long story short -- paid $2200 for 84 months, which covers wheel (cosmetic up to $150) and tire damage. Package also covers windshield damage as well as "paint-less" dents.
Terms included a cancel anytime option with a 10% fee.

Now that I've switched to MPSS tires, forged wheels for the summer and blizzaks for winter, and of course driving the car for almost a year, am I better off just cancelling the wheel/tire insurance altogether?

Thoughts?

[White340]

Originally Posted by nick-d-quick

I know there have been numerous threads on this already but I'm on the verge of cancelling/taking off my wheel/tire insurance.

I purchased the insurance last year when I took delivery of my F30. Main reason for purchasing was mainly for the run flats, lower tire profile, and of course larger wheels --- didn't have that much experience driving a vehicle, a sedan for that matter, with larger/more aggressive wheel/tire set up. Been driving an SUV since we moved to NJ.

Long story short -- paid $2200 for 84 months, which covers wheel (cosmetic up to $150) and tire damage. Package also covers windshield damage as well as "paint-less" dents.
Terms included a cancel anytime option with a 10% fee.

Now that I've switched to MPSS tires, forged wheels for the summer and blizzaks for winter, and of course driving the car for almost a year, am I better off just cancelling the wheel/tire insurance altogether?

Thoughts?

I was quoted that for 5 years and it didn't include paintless dent repair so your price is not terrible. 7y is a long time and NYC area roads are pretty brutal. If you're planning on keeping the car for that long, i'm pretty sure it'll pay off in the long run - especially if you use the PDR which can cost 200 or so per panel if you want to remove door dings. Do you have a deductible?

Also are you sure you can cancel anytime with a 10% fee? Is it pro-rated? What if you cancelled in the 83rd month?

[T1M3LESS]

Originally Posted by White340

I was quoted that for 5 years and it didn't include paintless dent repair so your price is not terrible. 7y is a long time and NYC area roads are pretty brutal. If you're planning on keeping the car for that long, i'm pretty sure it'll pay off in the long run - especially if you use the PDR which can cost 200 or so per panel if you want to remove door dings. Do you have a deductible?

Also are you sure you can cancel anytime with a 10% fee? Is it pro-rated? What if you cancelled in the 83rd month?

Thanks for the reply.

Yes, there is no deductible on any of the claims/repairs.

And to clarify in regards to cancellation, it does get pro-rated (number of months left less 10%).

[White340]

Originally Posted by nick-d-quick

Thanks for the reply.

Yes, there is no deductible on any of the claims/repairs.

And to clarify in regards to cancellation, it does get pro-rated (number of months left less 10%).

It's a decent deal then. It's nice to know that when you get a curb rash, you can have it repaired.

[fshubert]

I had the insurance on my second 335i and I got my money's worth out of it. For that car ('09) the insurance was under $1k and I had 2 wheels replaced and 3 tires replaced. For the third 335i ('12) I paid almost $2k and replaced one tire. My loss. For the current car, the insurance was over $2k and I passed. So far in the 10 months I've had the car, I've had to replace 2 tires but filed a claim with the state as the damages happened in a construction zone. The highway contractor paid so my net loss is zero. I throw on a square set-up of Blizzaks (Tire Rack had free replacement insurance) from November thru March.

[White340]

Originally Posted by fshubert

I had the insurance on my second 335i and I got my money's worth out of it. For that car ('09) the insurance was under $1k and I had 2 wheels replaced and 3 tires replaced. For the third 335i ('12) I paid almost $2k and replaced one tire. My loss. For the current car, the insurance was over $2k and I passed. So far in the 10 months I've had the car, I've had to replace 2 tires but filed a claim with the state as the damages happened in a construction zone. The highway contractor paid so my net loss is zero. I throw on a square set-up of Blizzaks (Tire Rack had free replacement insurance) from November thru March.

How did you file a claim with the state? Is it only applicable for construction zones? I wonder if I could do the same on regular NYC roads (haven't had to yet but its only a matter of time).

[fshubert]

Originally Posted by White340

How did you file a claim with the state? Is it only applicable for construction zones? I wonder if I could do the same on regular NYC roads (haven't had to yet but its only a matter of time).

I went to NJ Dept. of Treasury and they had a claim form online for damages incurred on state roads or by state vehicles. Since it was Route 80, I filled it out and sent it in to Trenton. A few weeks later I got a letter back saying that the contractor was XXXX and the state copied me on a letter to XXXX to resolve the claim holding the state blameless. A few weeks after that, I got the forms to sign from the contractors insurance company that payment would be final and no additional claims could be filed for that instance (ie I guess I couldn't go back and say the same incident bent a wheel etc). I sent that back and got a check a week later.

[White340]

Originally Posted by fshubert

I went to NJ Dept. of Treasury and they had a claim form online for damages incurred on state roads or by state vehicles. Since it was Route 80, I filled it out and sent it in to Trenton. A few weeks later I got a letter back saying that the contractor was XXXX and the state copied me on a letter to XXXX to resolve the claim holding the state blameless. A few weeks after that, I got the forms to sign from the contractors insurance company that payment would be final and no additional claims could be filed for that instance (ie I guess I couldn't go back and say the same incident bent a wheel etc). I sent that back and got a check a week later.

Wow - well done, thanks for the info.

[Polo08816]

I drive in NJ regularly and don't have tire/wheel insurance.

You can basically self-insure by going with 18" wheels from the factory and use non-RFT winter tires in the winter.

Setup:
18" 400M staggered wheels
Front: 235/45/18 Michelin X-Ice Xi3
Rear: 245/45/18 Michelin X-Ice Xi3
Sport Suspension

Took delivery in June 2014 and have put 51,000+ miles on it so far.

Zero pothole damage issues.