[snj49er]

Originally Posted by 300hp

In any event my policy has paid out twice as much as what I put in. That peace of mind is priceless in my view.

Unless the insurance is acting as a subsidy to BMW owners, I'd have to believe that there is more money paid in overall than going out in claims. So for every driver with your experience, there has to be more than one other who receives nothing...but it's unlikely that we'll hear from them since they basically "lost".

The insurance industry has always had a problem with adverse selection, the tendency of people who most need insurance to buy it. A lot of overweight, diabetic smokers with a poor health history tend to be pretty interested in medical insurance. The law of large numbers - and a lot of young, healthy policy holders - allows it to work.

<rant> IMO, many people would be better off if they focused a similar amount of energy making sure that the coverage in their homeowner's, auto, disability or life insurance is appropriate. In those areas, the stakes are high and insurance is best viewed as protection against catastrophic loss. In the big picture, a couple thousand dollars worth of wheels and tires really doesn't mean dookie. <end rant>

(No, I don't sell insurance.)

[300hp]

Originally Posted by snj49er

Unless the insurance is acting as a subsidy to BMW owners, I'd have to believe that there is more money paid in overall than going out in claims. So for every driver with your experience, there has to be more than one other who receives nothing...but it's unlikely that we'll hear from them since they basically "lost".

The insurance industry has always had a problem with adverse selection, the tendency of people who most need insurance to buy it. A lot of overweight, diabetic smokers with a poor health history tend to be pretty interested in medical insurance. The law of large numbers - and a lot of young, healthy policy holders - allows it to work.

&lt;rant> IMO, many people would be better off if they focused a similar amount of energy making sure that the coverage in their homeowner's, auto, disability or life insurance is appropriate. In those areas, the stakes are high and insurance is best viewed as protection against catastrophic loss. In the big picture, a couple thousand dollars worth of wheels and tires really doesn't mean dookie. &lt;end rant>

(No, I don't sell insurance.)

We have to break this down:

Self insurance
You go naked and hope for the best. For my other car with huge sidewalls I think this is fine. However when the time comes to change tires on that car I will go with the Costco type insurance.


Costco type coverage
I think this is a good way to go but you are not covered when you leave the shop until you buy a tire from them and even then your wheels are covered. So let's put a number of say $400 for this type of coverage since you still need to buy a tire to get covered. Spoken differently this type of coverage costs the same as one tire but wheels are left naked.

BMW wheel and tire coverage
You are covered from the minute you sign the papers for 5 years I think. If you have an accident you get your money back prorated for the number of years you had to the point the car was written off. It's transferable and your wheels are covered. You can get as many blow outs as you want or your wheels can get damaged as much as possible. Each occurrence is covered and the tire and wheel replacements are done at your trusted BMW dealership. Cost of this is equivalent to one wheel and one tire.

I think these are 3 perfect options and each is priced for the type of risk you want to take.

[snj49er]

Originally Posted by 300hp

We have to break this down:
I think these are 3 perfect options and each is priced for the type of risk you want to take.

Nice summary. For someone like me who hasn't had a flat tire or a bent wheel since I started driving in the late 60's, it doesn't make a lot of sense. I've already been able to avoid paying for the protection for a long time and I'm willing to continue to accept the risk. But people that are driving out of their dealership on 30 series tires and commute to Kabul (no offense to any Afghan readers!) have to consider that they have much higher risks that should probably be transferred to an insurance company.

If you have a bad driving record, drive a high-value car and/or live in a bad neighborhood, you'll typically pay a boatload for car insurance. I find it interesting that (from what I've read) the dealer's initial offer for wheel and tire protection -- whether it's for a stripper 320 on 17" wheels or an M3 -- seems to be about $1,200.

[300hp]

Originally Posted by snj49er

Nice summary. For someone like me who hasn't had a flat tire or a bent wheel since I started driving in the late 60's, it doesn't make a lot of sense. I've already been able to avoid paying for the protection for a long time and I'm willing to continue to accept the risk. But people that are driving out of their dealership on 30 series tires and commute to Kabul (no offense to any Afghan readers!) have to consider that they have much higher risks that should probably be transferred to an insurance company.

If you have a bad driving record, drive a high-value car and/or live in a bad neighborhood, you'll typically pay a boatload for car insurance. I find it interesting that (from what I've read) the dealer's initial offer for wheel and tire protection -- whether it's for a stripper 320 on 17" wheels or an M3 -- seems to be about $1,200.

I think it's more to do with the sidewall than the type of road. My driving style is pretty similar with both my cars but I have never had a blowout or burble in my SUV. OTOH I have had 6 tires changed on my F30. Interestingly the F30 is the only car I have had with such low profile tires, each time I went to the dealership they were quick to point out that this is something they see often on these types of tires.

Given you history I would certainly agree with your decision to go naked on this

[snj49er]

Originally Posted by 300hp

I think it's more to do with the sidewall than the type of road.

Certainly seems to fit with what I've read here. I've wondered how much worse the introduction of RFTs has made the situation.

When I dropped off my car at a tinting shop a few weeks ago, I parked next to an Aventador that had it's back tires upsized to 335/25-21. You might be able talk me into tire and wheel protection on those bad boys.

[fecurtis]

Originally Posted by Kafkaesque320

Couldn't agree more with OP. You can get tire protection/road hazard warranties from every discount tire store in the US for around $60. I have done this on several previous cars. You have a blowout, get a nail, whatever, you go to Discount Tire and buy a tire and pay $60 extra for the warranty and that covers unlimited free replacement of any other tires in the future, free balancing, mounting, rotation, etc. Did this on my last car which had Conti DWS on them, soft sidewalls which had 2 blowouts and 2 bubbles. I got 4 new tires in 2 years for $60. Bought the set brand new for $800 and for an extra $60, I was covered.

Beyond that, it is just another overpriced extended warranty that they try to sell you when you are signing on the dotted line in the finance department, taking delivery of your car. It is simply a way to guarantee that you will pay for something that most likely won't happen. They don't cover cosmetic damage but if you bend a rim in a pothole, they'll replace the wheel. I have been driving in pothole ridden L.A. for almost two decades and have never bent or cracked a rim - and I have hit some serious, serious potholes. I don't drive over curbs or things like that either so honestly, It's a waste of money IMO, but it makes people feel better I guess. I don't understand how so many guys are destroying the wheels on their cars.

It's like people who buy a brand new car and then pay $3000 on top of that for some platinum extended warranty, seemingly forgetting that (A) this thing they just paid for doesn't even take effect for 3-5 years once all the factory coverage runs out and that (B) they have multiple options throughout ownership of the car to buy warranties like this. But instead they buy it the day they buy their car and most likely roll it into the monthly payment.

You forgot to consider that you can't do that until you replace the tires....so the math evens out.

[ji99lypuff]

Originally Posted by 300hp

What size tires do you have?

ive had 18 inch rims on my g35 and 328 and 17 inch on my mazda and highlander. Im sure that helps with the curb rash and flat tires but i still tend to be very careful when i drive on any unfamiliar roads.

[karupspc]

Everyone made great points. Think it comes down to personal preference & protection desire. For me I don't drive the car enough 36 month, 30,000 mile lease for the extra insurance cost. This will be my 4th lease each car I've been lucky without any puncture and all returned it with the original tires. Luckily the dealership doesn't make a fuss about the tire since I keep rolling into another lease (one day I'll wise up & actually keep the vehicle). Glad this discussion came up since I'm only a week away from closing on a 4er GC. Remembered last time the finance manager pushed hard on the tire insurance.

[JV973]

I have the insurance and the car has 4000 miles, BMW replaced my left rear tire last Monday because it had a piece of metal on it. A couple of the days later the right rear goes low and I go check it out and it has a nailed. Took it to the dealer and they cant change it until the inspector comes look at it. My SA tells me is because we just change your left rear last week and they want to look at it. I'm like I pay for that insurance, I dint do anything it just happen its not my fault. Just waiting to see what those idiots at the insurance will say.

[billiebob]

Originally Posted by snowghost

I buy my tires at Costco. Any tires they sell automatically have free lifetime road hazard. Plus their prices are very low.

+1 Costco is great for tires.

[Kafkaesque328]

Originally Posted by fecurtis

You forgot to consider that you can't do that until you replace the tires....so the math evens out.

Not true. You only have to replace one tire and the tire road hazard insurance you purchase covers any tire from there on out. At least, that is how it worked on my last 5 cars.

[fecurtis]

Originally Posted by Kafkaesque320

Not true. You only have to replace one tire and the tire road hazard insurance you purchase covers any tire from there on out. At least, that is how it worked on my last 5 cars.

Ah interesting, didn't know that. I stand corrected then.

But even still, if you blow out one tire that came with the car, you'd still have to buy a new tire out of pocket then purchase the insurance.

In total, my plan with BMW cost me something like $800, probably closer to $900 (I'd have to check my receipt). They originally wanted something ridiculous like $1800 or something, but you can negotiate pricing. Each tire cost around $400 to replace with labor (I blew out one about a month ago and that's what the invoice said). In addition, tires are something I tend to spend good money given how important they are to the safety and handling of a car so the insurance is worth it.

Next time though, I'll look into your method to figure out what makes more sense. Thanks for pointing that out.

[Philipangoo]

Also don't forget the tire/wheel protection has a deductible for each tire/wheel.

[AWDTRBOLVR]

In a place like NY/NJ with terrible roads... tire and wheel is a godsend. I had people come in for oil changes and realize they had a bubble in three tires. At upwards of $400 per tire and $75 bucks and hour to mount and balance one tire... that deductible feels pretty good.

Other places where potholes are few and far between or can at least be avoided at a moment's notice, I might think more into it. But as long as I'm living in NJ, tire and wheel is a must!

Or just grab some aftermarket wheels and tires instead.

[Philipangoo]

RFT bubble way too easily. I found a airbubble within 1 month of ownership. I have switched to 19" rims and non RFT and they are not only quieter, but perform better and I have not had an air bubble since logging about 300% more miles. I even hit a massive pothole that bent a rim but the tire was fine.

[jonkarn]

Financial guy at my dealership was pushing the insurance hard for $1800, to the point of telling some phony story while my wife was with me about getting 2 blown out tires while driving with his family, and having the insurance was a great piece of mind, etc. it seemed so scripted. Funny thing was that someone else on this forum said that his financial guy gave him the SAME STORY. Must be something taught at their sales seminars.

I laughed at $1800, said I've never had any major issues in the past and I would take my chances. He continued to push and said he would even allow me to sleep on it and do some research and come back in to sign up. I said no thanks I've already done all the research and it mostly points to this policy not being worth more than $800. He said there's no way he can go down that much, so I passed. It doesn't even cover cosmetic damage to the rims, which is usually the most common damage to the car.

This type of salesmanship is a turn off, and makes them seem desperate. At that point even if he came down in price I wasn't going to give him the satisfaction of getting money in his pocket by signing me up and would rather pay a tire place myself if I did have any damage. $400 sounds pretty high. I doubt it would cost that much if you went to a tire shop.

Originally Posted by fecurtis

Ah interesting, didn't know that. I stand corrected then.

But even still, if you blow out one tire that came with the car, you'd still have to buy a new tire out of pocket then purchase the insurance.

In total, my plan with BMW cost me something like $800, probably closer to $900 (I'd have to check my receipt). They originally wanted something ridiculous like $1800 or something, but you can negotiate pricing. Each tire cost around $400 to replace with labor (I blew out one about a month ago and that's what the invoice said). In addition, tires are something I tend to spend good money given how important they are to the safety and handling of a car so the insurance is worth it.

Next time though, I'll look into your method to figure out what makes more sense. Thanks for pointing that out.

[fecurtis]

Originally Posted by jonkarn

$400 sounds pretty high. I doubt it would cost that much if you went to a tire shop.

It wouldn't. The tire alone was about $350 or so (don't have the invoice on me on hand to give an exact price). I checked tirerack.com and remember the price listed there was around the same. The rest was labor for balance and mounting and tax.

This was the rear tire and I have the 19" wheels with high performance summer rubber and the staggered set up so those tires are pretty pricey.

[300hp]

Has anyone considered that you can get $8,000 of the MSRP of the F30 and with that you have enough money for PPK, MPE, tire and wheel and GAP Insurance? You still will end up at $4,000 off the MSRP of the car, just about the average amount people get but at that stage you are way ahead of the game.

There is just too many plausible scenarios and there cant be one "best" one for everyone IMO

[320FAMILY]

Originally Posted by Kafkaesque320

Couldn't agree more with OP. You can get tire protection/road hazard warranties from every discount tire store in the US for around $60. I have done this on several previous cars. You have a blowout, get a nail, whatever, you go to Discount Tire and buy a tire and pay $60 extra for the warranty and that covers unlimited free replacement of any other tires in the future, free balancing, mounting, rotation, etc. Did this on my last car which had Conti DWS on them, soft sidewalls which had 2 blowouts and 2 bubbles. I got 4 new tires in 2 years for $60. Bought the set brand new for $800 and for an extra $60, I was covered.

Beyond that, it is just another overpriced extended warranty that they try to sell you when you are signing on the dotted line in the finance department, taking delivery of your car. It is simply a way to guarantee that you will pay for something that most likely won't happen. They don't cover cosmetic damage but if you bend a rim in a pothole, they'll replace the wheel. I have been driving in pothole ridden L.A. for almost two decades and have never bent or cracked a rim - and I have hit some serious, serious potholes. I don't drive over curbs or things like that either so honestly, It's a waste of money IMO, but it makes people feel better I guess. I don't understand how so many guys are destroying the wheels on their cars.

It's like people who buy a brand new car and then pay $3000 on top of that for some platinum extended warranty, seemingly forgetting that (A) this thing they just paid for doesn't even take effect for 3-5 years once all the factory coverage runs out and that (B) they have multiple options throughout ownership of the car to buy warranties like this. But instead they buy it the day they buy their car and most likely roll it into the monthly payment.

Agreed. There is a reason BMW offers this to all it's new customers. It definitely isn't to lose money. Plus they offer this luxury to it's customers while most are uncomfortable/vulnerable and feel must make a decision quickly before signing on the line.

[SouthernBoy]

I get about 1 tire replacement every 6 months down here. It paid for itself on my last 2 BMWs. In fact, I had to replace 8 tires and 4 wheels in 2 years on 1 of my non-BMWs. That tire and wheel warranty paid for itself!!!

[Brenzo]

Is the insurance transferrable or can you sell it back?

I'm curious because I'm looking to lease a new vehicle, but have the tire warranty program on my current vehicle. I feel it's already paid for itself since I've had two tires replaced (although they get you separately with that laser alignment.)