Question for Tire/Rim Insurance

[Fahrvergnügen]

Upon signing for my M4, the finance manager at my dealership agreed to give me 4 years of tire/rim insurance for $1,100 with a $50 deductible for each incident. The finance manager explained to me that if I get a nail or something in the tire then the insurance covers it; however, if I go out and do a massive burnout and tear the tires up then the insurance does NOT cover (which makes sense).

For those with this insurance, my question is if I want a new tire, but nothing is necessarily wrong with it (maybe just low tread), how would the dealership know if I just stick a nail in my own tire to get it replaced?

The insurance seems like it could easily be taken advantage of in order to get new tires just by sticking a nail / screw in your own tires. Or am I missing something.

[bjams]

I believe that's called "insurance fraud". :-D

[Fahrvergnügen]

Originally Posted by benjaminroy

I believe that's called "insurance fraud". :-D

Yes, I know it is illegal, I just think it is a big hole in BMW's insurance terms since the buyer does not pay any monthly premium (and thus does not incur any repercussions for each incident).

[bjams]

Oh I'm not saying you shouldn't do it. What's to stop me from throwing my iPhone at the ground and getting a new one via AppleCare+ for $50? Nothing, really.

[Padfan9]

I personally do not like that warranty. I got it on my last BMW and all 4 of my tires got ruined by wet cement (no sign on road and it was at night, black road) and they wouldn't cover anything.

They are very finicky about what they will cover. If you hit a nail, but your tires are too low, I think below 2/32nds of an inch of tread left, they won't cover it.

I don't think it's worth it. It is also interesting we didn't get a spare tire or run flats (not that I want run flats) but usually you get one or the other!

[Gstone]

Wont they just patch the nail hole? Hard to believe they will give a new tire for this.

I got a nail in my tire and had it fixed for $30, which is less than a $50 deductable.

[Fahrvergnügen]

Originally Posted by Padfan9

I personally do not like that warranty. I got it on my last BMW and all 4 of my tires got ruined by wet cement (no sign on road and it was at night, black road) and they wouldn't cover anything.

They are very finicky about what they will cover. If you hit a nail, but your tires are too low, I think below 2/32nds of an inch of tread left, they won't cover it.

I don't think it's worth it. It is also interesting we didn't get a spare tire or run flats (not that I want run flats) but usually you get one or the other!

Isn't it sort of dangerous to be rolling around on 2/32nds of tread, especially in wet conditions? I can understand if they don't cover your tires in this instance since it is stated in the Wheel and Tire brochure (http://www.bmwusa.com/standard/conte...nproducts.aspx)

[bcl0328]

Originally Posted by Gstone

Wont they just patch the nail hole? Hard to believe they will give a new tire for this.

I got a nail in my tire and had it fixed for $30, which is less than a $50 deductable.

dealers won't. i got a nail in my tire and they wanted to put a new one on. i had to call 4 shops before anyone would patch it. no one is willing to do it anymore.

[m3incorp]

That is expensive insurance. There are others on here who bought it for $600. BTW you can haggle the price on these insurance plans

[Fahrvergnügen]

Originally Posted by Gstone

Wont they just patch the nail hole? Hard to believe they will give a new tire for this.

I got a nail in my tire and had it fixed for $30, which is less than a $50 deductable.

The way the finance manager explained it to me and what the brochure says is that they will never patch a hole, they will always replace the tire with an OEM part.

I also had a flat on my Z4 with run-flats and was about 2 months away from returning the lease so I just had it patched for about $30. However, since I bought this car, I thought it would be a good idea to replace instead of patch in order to get all the tread back on my tires.

[Fahrvergnügen]

Originally Posted by m3incorp

That is expensive insurance. There are others on here who bought it for $600. BTW you can haggle the price on these insurance plans

How many years did the 'others' get the insurance? I got mine for 4 years. And yes I did get a small discount off the listed price the finance manager had printed out. I also live in Chicago where we have many potholes which may lead to some reluctance in giving larger discounts. I also got the insurance rolled into my finance so if I sell the car before I pay it off I probably will come out ahead.

[minn19]

Sorry if I missed this, but when did you sign for it? There is a $750 rebate that has been going on for a little while now.

[Fahrvergnügen]

Originally Posted by minn19

Sorry if I missed this, but when did you sign for it? There is a $750 rebate that has been going on for a little while now.

Link?

[m3incorp]

Sounds like you did the right thing since you have pot holes in your area. Like any insurance it is based on your needs and the insurance company making money. If you bend a wheel, then it will be well worth it. Read the fine print, in most instances you can forget having the tires replaced....ie it costs less to have a nail removed and repaired than your $50 deductible. When I bought my Stingray, the dealer asked $1200 for four years, after telling him I didn't want or need it, he came down to $700 for the same 4 years. Since I planned on aftermarket wheels, really couldn't see the reason to buy it.

Originally Posted by ChicagoM4

How many years did the 'others' get the insurance? I got mine for 4 years. And yes I did get a small discount off the listed price the finance manager had printed out. I also live in Chicago where we have many potholes which may lead to some reluctance in giving larger discounts. I also got the insurance rolled into my finance so if I sell the car before I pay it off I probably will come out ahead.

[minn19]

Originally Posted by ChicagoM4

Link?

Sorry, I don't have a link for it. My finance person told me about it when we were signing the papers for the car. I took delivery two weeks ago and have seen other posts on here that have taken advantage of this as well. I wouldn't have bought it at $1350, but I thought it was worth it at $600. Maybe give him or her a call.

[Fahrvergnügen]

Originally Posted by m3incorp

Sounds like you did the right thing since you have pot holes in your area. Like any insurance it is based on your needs and the insurance company making money. If you bend a wheel, then it will be well worth it. Read the fine print, in most instances you can forget having the tires replaced....ie it costs less to have a nail removed and repaired than your $50 deductible. When I bought my Stingray, the dealer asked $1200 for four years, after telling him I didn't want or need it, he came down to $700 for the same 4 years. Since I planned on aftermarket wheels, really couldn't see the reason to buy it.

Yes, I get it and have weighed the pros/cons based on my needs and know comparable pricing and all for the insurance based in past threads.

I think this thread is getting a bit diverted and off-topic. My question was more around the technicalities of taking advantage of the insurance, not whether buying the insurance was a good idea or at a good price.

[m3incorp]

Dealers make money selling tires, not patching them. That is why there are tire shops. As long as the shop is good, no reason to have a tire repaired at a dealer.

QUOTE=bcl0328;17085825]dealers won't. i got a nail in my tire and they wanted to put a new one on. i had to call 4 shops before anyone would patch it. no one is willing to do it anymore.[/QUOTE]

[m3incorp]

To stay on topic. The fine lines in the policy will lay out the technicalities of taking advantage of the insurance. In the one scenario mentioned about putting a nail in a tire and having it replaced, doesn't really make much sense, since there are three other tires that will now have less thread.

Originally Posted by ChicagoM4

Yes, I get it and have weighed the pros/cons based on my needs and know comparable pricing and all for the insurance based in past threads.

I think this thread is getting a bit diverted and off-topic. My question was more around the technicalities of taking advantage of the insurance, not whether buying the insurance was a good idea or at a good price.

[Gstone]

Nails in tires are common.

Whats to stop people with the insurance from putting a nail in one of the rear tires when almost worn out, and changing both rear tires (bye on get one free)?

[Fahrvergnügen]

Originally Posted by minn19

Sorry, I don't have a link for it. My finance person told me about it when we were signing the papers for the car. I took delivery two weeks ago and have seen other posts on here that have taken advantage of this as well. I wouldn't have bought it at $1350, but I thought it was worth it at $600. Maybe give him or her a call.

I was not offered that deal after asking for discounts at my dealer so it is kind of irrelevant at this point since I have already made the deal. I have all intentions of popping at least 4 tires in Chicago within a 4 year period, which I do not want patched, and at ~$1,200 on TireRack for a full set vs. $1,100 for insurance I think it is a great deal since I also don't have to worry about driving over Chicago's gravel streets and having unexpected costs.

[sunnyboy]

Originally Posted by Padfan9

I personally do not like that warranty. I got it on my last BMW and all 4 of my tires got ruined by wet cement (no sign on road and it was at night, black road) and they wouldn't cover anything.

They are very finicky about what they will cover. If you hit a nail, but your tires are too low, I think below 2/32nds of an inch of tread left, they won't cover it.

I don't think it's worth it. It is also interesting we didn't get a spare tire or run flats (not that I want run flats) but usually you get one or the other!

Not sure how long ago this was, but I also got tire/rims warranty on my 2008 335i. Within 1.5 years, all 4 rims were bent and tires feathered due to alignment because of the bent rims. So, they were not willing to replace anything. Finally, they agree to replace 2 rims and 2 tires. So, I had to end up getting the other 2 rims straighten and bought 2 new tires.

You must be asking, how the hell you bent all 4 rims. Well, first, I had sport suspension + run flat + low profile 19". Second, the road I drove to get to work was rather littered with potholes.

Base on my knowledge, at that time the warranty was ran by a 3rd party company. The current warranty is now run by BMW directly, so they are much more diligent in helping you replace things (as per my rep). I would have gotten the warranty but I didn't know I had to sign up within 30 days of purchasing the car and missed that boat.

Also, the benefit of this warranty is not really the $300-400 a tire but the rims. Those OEM rims will run you easily $1000+ a rim. So, if you scratch a rim or bent one, you get a replacement.

[minn19]

Originally Posted by ChicagoM4

Yes, I get it and have weighed the pros/cons based on my needs and know comparable pricing and all for the insurance based in past threads.

I think this thread is getting a bit diverted and off-topic. My question was more around the technicalities of taking advantage of the insurance, not whether buying the insurance was a good idea or at a good price.

Ok, in that case. No, I would not commit fraud and just use it for what it is designed for. I'm sure BMW and others (Apple Care) have a certain formula that builds a percentage of fraud in to the pricing assuring they will still make money.