Alloy and tyre insurance cover: What you need to know
By Bethan Harper
Tyre and alloy insurance is one of the most frequently purchased motor insurance policies in the UK, but why do you need it?
Making sure your vehicle has the correct insurance can seem like a daunting task. And, with so many types of insurance policies out there (not all of which are legally required), sometimes it feels like you need to be an expert to make the right decisions. But thankfully, that’s not the case.
To drive on UK roads, you’re legally required to purchase third-party insurance, but that’s not always enough for financial peace of mind.
Tyres are the only part of your car that are in contact with the road, and alloys aren’t too far away, leaving them both prone to damage. And, whether that damage is purely cosmetic or impacts the functionality of your wheel, it’s usually a good idea to get it repaired.
If you want to find out more about tyre and alloy insurance, here are some things to consider when making a decision. You can jump straight to a specific section or read on for the full piece.
What is tyre and alloy wheel insurance?
A tyre and alloy insurance policy protects you financially if the tyres or alloys of your car’s wheels are damaged. In most cases, these policies cover malicious and accidental damage, as well as superficial and functional damage.
For example, if you discovered one of your tyres had a slow puncture, you could claim against your tyre and alloy insurance policy and, providing your claim was accepted, your provider would pay the repair/replacement costs.
Is alloy wheel and tyre insurance covered in my standard policy?
Unfortunately, there’s no single answer to this, as some standard motor insurance policies do and some don’t. The only way to know for sure is to check the policy wording.
However, one thing to note is even if your standard motor insurance policy does include alloy wheel and tyre insurance, it’s likely your excess will be close to or even more than the cost of the repair or replacement, making the claim financially futile.
With a tyre and alloy wheel insurance policy, your excess will be considerably lower and could be as little as £15 per claim: saving you a substantial amount of money.
What’s included in a tyre and alloy wheel insurance policy?
While all tyre and alloy insurance policies are slightly different, they typically provide financial cover for the repair or replacement of:
- Slow punctures
- Damaged flat tyres
- Tyre tears
- Impact damage
- Alloy scratches
- Alloy dents
The financial cover also extends to any labour required to carry out your repair or replacement.
What are the benefits?
There are two key benefits of taking out an insurance policy like alloy and tyre insurance: financial security and peace of mind.
When you’re taking your car out on the road, particularly if you’re driving to an exciting event, the last thing you want to be concerned about is how much it will cost if your vehicle sustains unavoidable damage.
With tyre and alloy insurance, you can alleviate some of your worries in the knowledge that even if you do discover some damage, you’ll be able to afford to fix it.
Are there any restrictions?
As with any insurance policy, there are likely to be some restrictions to your tyre and alloy wheel insurance. These restrictions are unlikely to be the same for all policies, but common restrictions to your claim being approved include:
- Vehicles not listed in Glass’s Guide
- Claims against general wear and tear
- Claims for cracked or buckled alloy wheels
- Vehicles with non-standard, aftermarket, or alloy wheels with a split rim construction or chrome effect finish
- Vehicles with stolen tyres
- Vehicles with a non-standard or custom paint finish
How much does cover cost and will I really save money in the long run?
The cost of your cover will depend on a variety of factors, including the make and model of your car, the type of tyres and alloys you have, how many claims you can make and the cost of your excess.
However, to give you an idea of how much it could cost, here at Save More Money, we offer tyre and alloy insurance policies from around £130 per year, that’s just under £11 per month (prices as of 2023).
As for whether you’ll save money in the long run, let’s do the math:
Cost of our tyre and alloy insurance: from £131.18
Cost of repairing a set of four alloys = up to £420
Cost saving = up to £288.82 per claim
Prices from Household Quotes, 2023
Cost of our tyre and alloy insurance: from £131.18
Cost of repairs one tyre = Up to £700
Cost saving = up to £568.82
Prices from Checkatrade, 2022
So, for the most part, you’ll only need to make one claim to make tyre and alloy insurance financially worth it.
Also see: Tyre insurance myths and facts
Where can I get tyre and alloy insurance?
As tyre and alloy damage is so common, you’ll find that numerous providers offer this type of policy, and you can likely find a suitable option online.
However, not all policies are the same, so it’s best not to settle for the first one you find and to research your options.
But if you’re looking for a comprehensive and affordable option, from around £130 per year, our tyre and alloy insurance allows you to make up to three claims per year.
Get a quote for the Save More Money tyre and alloy insurance here.