Alloy wheels insurance FAQs
Is alloy wheel insurance worth the extra cost?
Depending on the type of car you own, damaged alloy wheels can have a marked impact on the overall value of your car, particularly if you drive a new or premium brand car.
If you have a history of scratching or damaging your wheels, alloy wheel insurance can provide a great way to pay for repairs.
For a small monthly premium, you can cover the cost of repairs without damaging your main insurer’s no-claims bonus or incurring a hefty “excess fee” on your claim.
How does alloy wheel insurance work?
Alloy wheel insurance typically covers the cost of repairs to alloy wheel cosmetic damage, such as scuffs, scratches and dents.
It will also pay you a fixed amount (for example £150) if your alloys are damaged beyond repair.
Alloy wheel insurance typically requires an annual premium of around £60 or a rolling monthly premium of £5. If you take out a longer period of cover,
say three-years rather than one, the monthly cost of your premium will likely decrease.
Will my car insurance pay for damage to my alloy wheels?
Most insurance companies will cover the cost of repairs to cosmetically damaged alloy wheels. However,
the cost of repairs is likely to be less than the “excess” payment that your insurer will require in the event of a claim.
Moreover, if you use your main insurance policy to claim for alloy wheel repairs, your no claims bonus will likely be at risk and future insurance premiums could increase.
Alloy insurance is designed to provide a more cost-effective way to cover the cost of repairs.
A good policy will require a modest monthly premium that will be less than the cost of your main insurer’s “excess fee”.
If you make a claim on your alloy wheel cover, it will not impact your no claims bonus or future insurance premium with your main insurer.
Why buy alloy wheel insurance?
Ultimately, you are the best judge of whether you need alloy wheel cover or not. Do you have a history of damaging or scratching your alloys?
If you do, how important is it to you to fix the damage?
Alloy wheel cover is likely to be more important if you live or drive in an urban area with street parking.
Similarly, if the roads in your area are littered with potholes and debris, alloy wheel cover can be a sensible buy.
When leasing a car, alloy wheel insurance can provide added peace of mind, paying for repairs that might otherwise incur an end of lease damage penalty.
How much does alloy wheel cover cost?
Alloy wheel cover typically costs around £60 per annum, although the price will be more if your vehicle has large (more than 18-inch) or expensive rims, such as diamond-cut or split rims.
When you make a claim there will usually be a small fee of around £10. Your insurer will usually limit you to four-claims a year and will typically place a maximum claim limit of around
£100 to £200 per wheel, per year.
What should I look out for in alloy wheel insurance small print?
Below is a checklist of the key things you should look out for in an alloy insurance policy:
- The number of claims you are allowed to make per year – usually 4 claims per year.
- The maximum claim limit you are allowed to make per year – usually in the region of £150 per wheel.
- Whether there is an admin fee payable with each claim. Note, there will usually be an admin fee of around £10 per claim. Check to see if this is a maximum fee per claim or a fee per wheel.
- Whether your insurer will pay out if your wheels are damaged beyond repair.