Can You Insure Alloy Wheels?

Simple answer is you can get insurance for almost anything today. Alloy wheel insurance is no different, it will cover drivers in the event of any unexpected damage to one or more of their precious wheel rims, like scraping a kerb or hitting a deep pothole when out an about.

Gap insurance, wheel, tyre, and dent protection are insurance products that are increasingly offered by motor trade new and used car dealers when making a sale on the forecourt, but for those of us that own a set of rare or expensive alloys and are not in the market for a new vehicle, then your insurance broker may be able to offer you a policy for peace of mind.

Whilst driving, alloy wheels and tyres can be damaged quite easily, and many modern vehicles often come with a variety of wheel sizes, rim designs and styles, those who know their rims will refer to these using terms like diamond, tone and split, which can all vary in diameter, and often be very expensive to replace.

These owners generally buy insurance for their alloy wheels; so, in the event of an accident or theft, the insurance company cover the cost of repair or replacement.

Alloy wheel insurance is becoming more and more popular with personal contract plans (PCP) and lease motorists, as the amount drivers pay towards any damage or replacement part at the end of the contract can be expensive, so this type of insurance policy is a way of avoiding additional fees when handing vehicles back at the end of the contract term.

Claiming on an alloy wheel insurance policy can also avoid drivers having to claim on their own car insurance policy, this protects their no-claims bonus as well as avoiding any policy excess that could rise to £250 plus.

Specific policies like this will generally cover repair or refurbishment up to a pre-agreed amount outlined in the terms and conditions of the contract.

Policies may allow for several repairs during the cover term, and if the wheel is beyond repair, the private or motor trade insurer will either cover the whole cost or contribute towards a replacement.

Premiums for this type of insurance always depend on what you’re trying to insure, for example a set of 16in alloy wheels on a mini will generally be cheaper than a rare set of 20in wheels, prices will vary and can rise to hundreds depending on the rims.

Always read the small print, as your policy may not provide cover if the wheel rims did not originally come with the vehicle, or if there are any pre-existing scratches or scuffs. Expensive designs may also be excluded, please check with your insurance broker before agreeing to any policy.

Whether you really need alloy wheel insurance is like any other policy decision, do you think it’s worth the risk not having one. If you don’t own an expensive set of alloy wheels or don’t clock up mileage, only drive on good roads and feel confident when parking, then you probably don’t need this type of cover.

On the other hand, if you bought your wheels at an auction, spend days on the road and scuff the odd kerb, then perhaps alloy wheel insurance is a good investment.