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-   -   Current cost of wheel & tire insurance (http://www.bimmerfest.com/forums/showthread.php?t=710105)

Stevarino 07-20-2013 01:42 PM

Current cost of wheel & tire insurance
 
I did a search and most of the postings were not recent in terms of pricing.

I am hoping to get a feel for what the up to date quotes on wheel and tire insurance on an X3 for three years would run. These policies used to be only $400 back in 2008 but now with run flats being so expensive to replace, it looks like some dealerships are quoting over $1000.00

Any recent quotes would be appreciated.

ponti33609 07-20-2013 03:11 PM

Current cost of wheel & tire insurance
 
I was quoted a policy from Fidelity for over $1,200 for 5 years. Yikes. I passed.


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Stevarino 07-20-2013 03:31 PM

Current cost of wheel & tire insurance
 
Thanks. That's what I was afraid of. I might do it for $500-$600 but not for over a thousand.

(Ironically, in 2008 I bought two cars. I got the insurance for my wife's daily driver but did not buy it for my low usage E-93. Her car ( with the wheel and tire insurance) never had a wheel scratch, but my car (without the insurance) took a curb avoiding a women who lost control of her bicycle.)

I think I used up my bad luck with that incident and will pass also.



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Stitches 07-21-2013 09:19 AM

I was quoted (and paid) $1200 for 3 years. Let me know how badly I got taken. I'm not sure I even need this coverage for the roads in my area, but a combination of circumstances at the time influenced me to buy it.

I recall that it was just a little bit more for 4 and 5 years of coverage. All the more reason to think that $1200 for 3 year is ridiculous. Yet....I paid it.

WHITEX 07-21-2013 09:28 AM

Quote:

Originally Posted by Stitches (Post 7723286)
I was quoted (and paid) $1200 for 3 years. Let me know how badly I got taken. I'm not sure I even need this coverage for the roads in my area, but a combination of circumstances at the time influenced me to buy it.

I recall that it was just a little bit more for 4 and 5 years of coverage. All the more reason to think that $1200 for 3 year is ridiculous. Yet....I paid it.

We paid about $1100+ for 5 years. With tax is over $12. How much is a nail worth. The tires cannot be repaired. There is no limit on replacement. I think a $50 deductible. I was going to buy a wheel and spare (still might) but that runs close to a $1000 or more.
I think you can cancel the policy...try canceling and re-buying. Or tell BMW others paid 1100+ for 5 years. See what happens. I would complain about it...and let them know that it will be on the customer satisfaction survey. Tell that to your SA. They do not want any negative feedback. ANY! It will cost them part of their commission.

Stitches 07-21-2013 10:11 AM

Thanks for the info. I'll be smarter next time.

I don't think there was a deductible on my policy. Bought in June. I thought the Finance person said they would start adding deductibles in the future. When did you buy?

WHITEX 07-21-2013 11:22 AM

Quote:

Originally Posted by Stitches (Post 7723352)
When did you buy?

June 27. $1217. for $5 years. Simply inquire. Ask why? Tell them your friend got 5 years for $1217.

Stitches 07-21-2013 01:11 PM

Thanks for the info.

Drm1283 07-21-2013 02:09 PM

Current cost of wheel & tire insurance
 
I paid $650 for three years on my 2013 F30.


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guyver626 07-21-2013 03:34 PM

Current cost of wheel & tire insurance
 
I live in NY. I was dumb enough to pay $1500 for a third party 5 year, no deductible, no limit. Thought I wasted my $$ but a month in 928 miles to be exact, I had already picked up a bolt. I'm sure it could have been patched if i didnt have the warranty as I noticed it early while it still had air in the tire. But I didn't worry, just drove to my closest dealer and they gave me a new tire. By the time I got there, the bolt fell out and I'm sure I drove on a flat for atleast 5 miles.

I didn't buy my car from this dealer so they did give me a minor issue as they claimed they never heard of this warranty company before and they were "out of loaners" as it would take all day to "fix" the tire as they have to get payment first from the insurance company before they would release the car back to me. I was already late for work dealing with this nonsense after waiting for 2 hours. Got frustrated and told them to just charge my CC and give me back my car! With that being said they took my CC info but would only charge me if they couldn't get payment from the insurance company. By the end of the day I got confirmation the dealer got paid from the insurance company. I'm pretty sure it was the dealer who caused the delay because I had already notified the tire insurance company I was going to the dealer and all the Warranty company needed was an invoice from the dealer as they already approved my new tire even before I went to the dealer. (Also, I haven't heard good things about this bmw service station) I really was expecting it to be in and out. The bill came out to $466 after everything!! I have 19inch tires

In the end I feel the warranty was worth it as I have 5 years of worry free driving! All depends on where you live. If I live in Florida or Cali where the roads are near perfect I wouldn't get it. Living in NY my tires and rims are covered. I hope to pick up a flat every 5 months on each tire so I never have to pay to replace them for 5 years lol. ;)




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WHITEX 07-21-2013 07:21 PM

Quote:

Originally Posted by guyver626 (Post 7723828)
If I live in Florida or Cali where the roads are near perfect I wouldn't get it.

1 nail ...just takes 1 nail. My community has construction trucks in and out daily.

guyver626 07-21-2013 08:24 PM

Current cost of wheel & tire insurance
 
The other reason I bought it was for the rim insurance. The tires I can get patched for $$25 via plug patch. But if I hit a pothole which I do all the time in NY then I'm screwed with these 19 inch rims.


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FL-GT535i 07-26-2013 07:44 AM

Ok, I'm going to confess here as well, I just paid for this on my deal this week for the 2013 535i GT I leased for 36 months. It adds $30 to the monthly payment but I was a little freaked out over reading a few horror stories on the forum. I already had in mind that I would try to get insurance and in my mind it was worth $20 to $25 a month.

The GT has 20" wheels with the M Sport package and the corresponding run flat tires. I have a coworker that has the run flats on her Corvette (and she has a lot of issues with them) so I did a quick price check and a single tire is going to be in the $400 up range in this area.

So here's why I did it: On the last three cars that I drove off the lot, each of them had to have a tire replaced within 3 months. I know, crappy luck, but if that happened with the GT I would be in for half the policy cost.

The other reason is that I am moving to a new house in two weeks. Only half of the development is up so it will be about 2 years before all homes are completed. I can't believe the number of sharp objects I have found walking around the neighborhood, from nails and screws to just odd pieces of cut metal. It also just not homes being built but the roads, sewers, etc have to go in as well.

I did a lot of research and felt like I got the pricing where I was happy on the car but was not prepared for the tire/wheel insurance portion. If anyone is considering a new BMW anytime soon, would be good to research this before sitting down to sign paperwork.

Stitches 07-27-2013 09:26 PM

I canceled my insurance today. It was less than 30 days so I'm supposed to get a full refund. :)

FL-GT535i 07-28-2013 05:24 AM

Any idea how this works if built into your payment?

Stitches 07-28-2013 06:39 AM

Quote:

Originally Posted by FL-GT535i (Post 7737155)
Any idea how this works if built into your payment?

Check your contract. I've heard that different dealers may use different providers. But I believe the money will be deducted from the balance you owe. So you would not get any money now, but at the end you'd have a few less payments.

tcw9999 07-31-2013 10:31 PM

Current cost of wheel & tire insurance
 
Quote:

Originally Posted by Stitches (Post 7723286)
I was quoted (and paid) $1200 for 3 years. Let me know how badly I got taken. I'm not sure I even need this coverage for the roads in my area, but a combination of circumstances at the time influenced me to buy it.

I recall that it was just a little bit more for 4 and 5 years of coverage. All the more reason to think that $1200 for 3 year is ridiculous. Yet....I paid it.

I paid my first 2012 X3 $1,995 and $2,145 for my other 2013 X3!! And my others all charge $1,949 for 5 years... DO NOT go to New Century BMW n Alhambra. They sold much higher than other dealer!! Go to BMW of Monrovia. They start $1,070 to $1,395 on most car for 5 years!!


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tcw9999 07-31-2013 10:37 PM

Current cost of wheel & tire insurance
 
Quote:

Originally Posted by FL-GT535i (Post 7737155)
Any idea how this works if built into your payment?

Basically you will get refund on whatever day you haven't use but the car payment will still remain the same. So it means you will paying interest for it. At some point you will lose something..


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