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You might be surprised to know that most car insurance policies don't cover tyres and rims. If you want cover for punctures, cuts and bursts, you might need to buy special cover, or have it added on to your existing policy. Cover can be an affordable option for many, but might not be worth it for others. Our guide will help you decide.
Most car insurance policies will exclude cover for tyre damage caused by things like punctures, cuts or bursts. This is where tyre and rim insurance comes in. It can cover you for damage to your tyres and rims. This includes blowouts, punctures and damage from different road hazards like driving through a pothole.
To get cover for tyre and rim insurance, you will usually have to pay extra (on top of your monthly car insurance premium) to have it covered. Some insurers offer tyre and rim cover as an optional extra. Alternatively, you can buy standalone cover.
If you get a puncture, cut or burst tyre, you can claim the repair costs back through your insurance. Keep in mind that you will likely still have to pay an excess (a contribution you're required to pay towards a claim) and in many cases, replacing your tyres and rims might be less than the cost of the tyre and rim insurance policy. It all depends on how much your tyres and rims are worth.
Tyre and rim insurance can cover you for the following:
Here's an overview of what many tyre and rim insurance policies will not cover. For a full list, always consult the product disclosure statement (PDS).
This depends on the value of your tyres and rims. If they cost a lot of money, then tyre and rim insurance might be worth it. For example, based on a quote for a 2019 Toyota Corolla*, an annual policy with Eric Motor Vehicle Tyre & Wheel Insurance costs $85.29, or $7.96 a month. As well as protecting your tyres and wheels, it also provides you with towing, accommodation and rental car cover. If you have an expensive set of tyres and rims, then insurance might be a smart option.
Tyre replacement can cost anywhere from $80 to $800 depending on size, brand and the type of vehicle. So the decision really comes down to how much your tyres would cost to replace. Before you buy a policy, look into how much it would cost you to replace your vehicle's tyres.
Tyre and rim cover might also be worth it if you travel a lot, or live in a rural area. This is because it can cover towing costs and provide you with a rental car or accommodation cover. Keep in mind that not all policies offer this benefit, so check the PDS before you sign up.
*30 year old male, 2019 Toyota Corolla Ascent
Below is a table of some of the providers that offer tyre and rim insurance, including their key features and benefits.
Insurer | Features |
---|---|
Eric Motor Vehicle Tyre & Wheel Insurance |
|
Swann Insurance |
|
AAA Finance |
|
NLC Insurance |
|
Tyres and rims are usually not covered under normal car insurance, unless you specify otherwise. Most policies specify the following, "You are not covered under this policy for: tyre damage caused by punctures, cuts or bursts." Unless they provide tyre and rim insurance as an optional extra, it most likely will not be automatically covered.
Some providers cover you for flat tyres though. For example Youi states in their PDS, "If the car has a flat tyre, we will change it with the spare. If there is no spare or for any reason the tyre cannot be changed, we will tow the car."
Tyre replacement can vary from around $80 to over $800. Your final bill depends on the damage. For a simple puncture repair, it can cost you as little as $50 to have fixed.
Tyres are often cheap to repair or replace because these days most vehicles are compatible with more than one option. However, if your car or motorcycle requires larger tyres, or ones that are not as common, it's likely to cost you more. The same is true if you are looking for a specific tyre brand.
Generally, the more expensive the car, the more expensive the tyres. For instance. SUVs and sports cars' tyres tend to cost a little more than hatchbacks. As is often the case with vehicle repairs, costs can vary, so insurance might be worth having if you want peace of mind.
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