Alloy wheels insurance

[waffler]

Does anyone have experience of claiming for damage on one of these policies? Better half is having a new motor with lovely wheels and we want to insure them for when I drive it. Don’t want to pay for a policy that won’t pay out.

 

[otherclive]

Not having psychic powers I haven’t a clue what policy you are talking about. My car policy will cover damage if I can’t claim from the highway authorities but the excess mitigates against this.
Why insure the wheels for when you drive it. Didn’t your other half’s policy cover them or do you target potholes?

 

[Niall_McIntosh]

I have never heard of this type of insurance. As with any policy, the devil will be in the detail. How much does the policy cost, what is the excess (ie what contribution will you have to pay for each claim) and how much, realistically would you have to have to pay to get the wheel(s) refurbished at a specialist?

 

[waffler]

This is a specialist policy. Normal car insurance covers damage but alloy wheel insurance covers just that. Car insurance excess is normally more than the cost of the repair and then there is the no claims discount so this policy means if i damage the wheels they can be repaired without it affecting my main car policy.

 

[otherclive]

Biggest risk of damage or breakage is on cars with low profile tyres anything “worse” than 45 is at increased risk.

 

[ProfJohnL]

Does anyone have experience of claiming for damage on one of these policies? Better half is having a new motor with lovely wheels and we want to insure them for when I drive it. Don’t want to pay for a policy that won’t pay out.

I have no idea whether you can get a policy just for the wheels, but as has already been suggested, the excess may barely make it worth it, unless you were claiming for more than one wheel.

There are companies that can refinish alloy wheels (provided the damage is not too severe). There is one accident repair center in Aldridge near Walsall, and I think it costs about £70 per rim. I'm sure you could find others that offer a similar service elsewhere.

I'd guess that if you were able to find a policy that provided just wheels its likely to cost at least £100 per year plus excess. It might make sense to put £300 into a high interest account, and call on it if you do damage a wheel. The chances are you wont, and you'll not have lost a penny.

 

[otherclive]

Does anyone have experience of claiming for damage on one of these policies? Better half is having a new motor with lovely wheels and we want to insure them for when I drive it. Don’t want to pay for a policy that won’t pay out.

I have no idea whether you can get a policy just for the wheels, but as has already been suggested, the excess may barely make it worth it, unless you were claiming for more than one wheel.

There are companies that can refinish alloy wheels (provided the damage is not too severe). There is one accident repair center in Aldridge near Walsall, and I think it costs about £70 per rim. I'm sure you could find others that offer a similar service elsewhere.

I'd guess that if you were able to find a policy that provided just wheels its likely to cost at least £100 per year plus excess. It might make sense to put £300 into a high interest account, and call on it if you do damage a wheel. The chances are you wont, and you'll not have lost a penny.

Prof
Where do you find high interest accounts or any that counter the effects of inflation?

 

[Craigyoung]

Alloy wheel insurance ? I've never heard anything of the sort , the wife damaged one about 6 years ago on our Toyota and it cost £35 and fixed on the drive, like the prof says it is probably cheaper just calling in somebody than having to part with your excess , it took me 12 year just to curb one of my alloys on my corsa that I had and it was gutted .

 

[Dustydog]

Waffler was right. See this https://www.tidyalloys.com/?utm_source=googletextad&utm_medium=textcpc&utm_campaign=Alloy1&utm_term=alloy%20wheel%20insurance%2C%20alloy%20wheels%2C%20alloy%20wheel%20repairs%2C%20alloy%20wheel%20refurb%2C%20diamond%20cut%20alloy%20wheels&utm_content=text&gclid=EAIaIQobChMIvuiiv_m04wIVmKztCh2A7gtQEAAYAiAAEgLXOfD_BwE

 

[ProfJohnL]

Prof
Where do you find high interest accounts or any that counter the effects of inflation?

My comparison made no reference to inflation, but it would certainly be better than paying out for insurance cover and excess.

 

[Raywood]

Looking at a claims limit for any one repair of £100 it looks expensive given that is also basically the premium. Not sure if the £100 is for an incident or each wheel if two are damaged though, or if it covers theft but I think not.

 

[otherclive]

Looking at a claims limit for any one repair of £100 it looks expensive given that is also basically the premium. Not sure if the £100 is for an incident or each wheel if two are damaged though, or if it covers theft but I think not.

If the claims limit is only £100 then it wouldn't cover the cost to replace a good quality alloy especially an OEM one.

 

[Dustydog]

Ray is correct. According to the web site it’s £100 per repair upto a maximum claims cost of £1000 per year. This is for the standard cover . There is an upgrade which doubles up the figures.
I will not be buying it but there always someone who will want it..

On the high interest account can someone please give me a steer? Prof do you have a magic money tree

 

[otherclive]

Ray is correct. According to the web site it’s £100 per repair upto a maximum claims cost of £1000 per year. This is for the standard cover . There is an upgrade which doubles up the figures.
I will not be buying it but there always someone who will want it..

On the high interest account can someone please give me a steer? Prof do you have a magic money tree

Any accounts that purport to be “ high interest” seem to require a minimum deposit of £500 but more often than not £1000+ and with withdrawal conditions too. Oh fo the genuine high interest of nearly 14% in the days gone by. But inflation of 20% plus eroded that one too. :evil: hmy:

 

[ProfJohnL]

......

On the high interest account can someone please give me a steer? Prof do you have a magic money tree

Sorry canine friend,
I'm keeping this cash cow to my self :lol:

 

[Hutch]

......

On the high interest account can someone please give me a steer? Prof do you have a magic money tree

Sorry canine friend,
I'm keeping this cash cow to my self :lol:

Maybe The Prof, had a few years in the Colonies,

FD Interest Rates in India for Less Than 1 Year
Bank Tenure Interest Rate
ICICI Bank 61 days to 184 days 6.25%
HDFC Bank 46 days to 6 months 6.25%
Bank of Baroda 91 days to 180 days 5.75%
IDFC Bank 91 days to 180 days 6.75%
3 more rows
https://www.policybazaar.com › fixe...
FD Interest Rates: Best Fixed Deposit Rates: Bank FD Rates - ...

 

[gravesyt]

I was worried when i bought the new car the OH destroyed the one's on the galaxy so swapped the front tyres with ones that had rim protectors and they Work not a scratch on them

 

[Guzzilazz]

......

On the high interest account can someone please give me a steer? Prof do you have a magic money tree

Sorry canine friend,
I'm keeping this cash cow to my self :lol:

Maybe The Prof, had a few years in the Colonies,

FD Interest Rates in India for Less Than 1 Year
Bank Tenure Interest Rate
ICICI Bank 61 days to 184 days 6.25%
HDFC Bank 46 days to 6 months 6.25%
Bank of Baroda 91 days to 180 days 5.75%
IDFC Bank 91 days to 180 days 6.75%
3 more rows
https://www.policybazaar.com › fixe...
FD Interest Rates: Best Fixed Deposit Rates: Bank FD Rates - ...

Bet they're not under the FSCS protection...