BMW Tire & Wheel Insurance - Worth steep price?

My dealer quoted me a price of $1740 for five year coverage on my new M3 which I pickup next week. Is this coverage worth the steep price? I wonder.

If it is, please tell me why and let me know if anyone has been able to negotiate a better price for BMW-backed T & W coverage.

I apologize if this is a repeat of a message I posted hours ago which never showed up in this forum for some reason unknown to me.

That doesn't sound like that bad a price for 5 years coverage. I skipped it on my 3 year lease, but depending on where you live, it can make sense. Make sure it is the BMW one an they are not selling a cheaper version with more restrictions.

It's a crap shoot. Given the poor road conditions here in New Orleans I got the three year deal for right around $1,000. 16 months in and it has already replaced ope PS2 tire which would have cost me north of $500 (installed) at the dealer. Would have been less at a third party shop but we are lacking in any really good tire/wheel shops here in NO. One more tire and I will have "paid" for the insurance...

$1,750 for five year sounds OK. Everything is negotiable, give it a shot. Might knock a few bucks off the price. But ultimately you need to think about the road conditions in your area. If the roads are in relatively good shape I would pass and take my chances.