02-10-2016, 03:53 PM | #1 |
Major
2275
Rep 1,308
Posts |
Wheel / Tire Insurance (NJ)
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? |
02-10-2016, 05:41 PM | #2 | |
Lieutenant Colonel
1396
Rep 1,988
Posts |
Quote:
Also are you sure you can cancel anytime with a 10% fee? Is it pro-rated? What if you cancelled in the 83rd month? |
|
Appreciate
0
|
02-10-2016, 05:46 PM | #3 | |
Major
2275
Rep 1,308
Posts |
Quote:
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%). |
|
Appreciate
0
|
02-13-2016, 08:36 AM | #4 |
Lieutenant Colonel
1396
Rep 1,988
Posts |
It's a decent deal then. It's nice to know that when you get a curb rash, you can have it repaired.
|
Appreciate
0
|
02-15-2016, 09:12 AM | #5 |
Captain
89
Rep 710
Posts |
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.
__________________
2018 Mustang GT | Royal Crimson | Black Leather | 6-speed | Cold Weather | Premium Pkg | 20" Alloy Wheels | Tuned to 510HP | Less than $45K
Previous loves: 2015 F30 335i / 2013 F30 335i / 2009 E90 335i / 2007 E90 328xi |
Appreciate
0
|
02-15-2016, 10:49 AM | #6 | |
Lieutenant Colonel
1396
Rep 1,988
Posts |
Quote:
|
|
Appreciate
0
|
02-15-2016, 01:46 PM | #7 |
Captain
89
Rep 710
Posts |
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.
__________________
2018 Mustang GT | Royal Crimson | Black Leather | 6-speed | Cold Weather | Premium Pkg | 20" Alloy Wheels | Tuned to 510HP | Less than $45K
Previous loves: 2015 F30 335i / 2013 F30 335i / 2009 E90 335i / 2007 E90 328xi |
Appreciate
0
|
02-15-2016, 06:58 PM | #8 | |
Lieutenant Colonel
1396
Rep 1,988
Posts |
Quote:
|
|
Appreciate
0
|
02-15-2016, 07:16 PM | #9 |
Brigadier General
1616
Rep 3,958
Posts |
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. |
Appreciate
0
|
Post Reply |
Bookmarks |
|
|