Why is tyre and rim insurance important?

Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors
, updated on June 9th, 2023       

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Tyre and rim insurance is a straightforward kind of insurance. It does what it says on the tin. This insurance pays out if or when your tyres are blown out or your rims are damaged. But why is it so important?

Nice rims

A common mistake people make is that their comprehensive car insurance actually covers tyre and rim damage. In many cases it doesn't. If you want to make a claim where your tyres and rims are concerned, it's quite likely you'll be turned away.

Tyre and rim insurance is important because without even one of these vital car parts, you can't drive. 

Having a crumpled bumper or a scratched rear panel is a pain, but at least you can travel from A to B while waiting for a repairer. When the car's in for repair, some comprehensive motor vehicle insurance policies might give you the option of a hire car or reimburse taxi fare. Even if one tyre is blown out or if one rim is buckled, you can no longer drive your car.

If you need to get around, those costs come right out of your pocket. That, and the parts and labour for your tyre and rim damage! If you own a large vehicle such as a van or a 4WD, you might have to come up with a sum upwards of $1,000 before you're back on the road.

Tyre and rim insurance covers you for all kinds of accidental damage such as road debris puncturing your tyre or potholes and other obstructions cracking your rims. 

Often, tyre and rim insurance can cover you for longer than one year in with a single payment. Some policies offer no excess on claims and/or accommodation when your tyre or rim has been damaged far away from home and you can't get back.

If you want to know more, talk to an insurance or financial professional to see what kind of policies are out there and are right for you.

A common mistake people make is that their comprehensive car insurance actually covers tyre and rim damage. In many cases it doesn't. If you want to make a claim where your tyres and rims are concerned, it's quite likely you'll be turned away.

Tyre and rim insurance is important because without even one of these vital car parts, you can't drive. 

Having a crumpled bumper or a scratched rear panel is a pain, but at least you can travel from A to B while waiting for a repairer. When the car's in for repair, some comprehensive motor vehicle insurance policies might give you the option of a hire car or reimburse taxi fare. Even if one tyre is blown out or if one rim is buckled, you can no longer drive your car.

If you need to get around, those costs come right out of your pocket. That, and the parts and labour for your tyre and rim damage! If you own a large vehicle such as a van or a 4WD, you might have to come up with a sum upwards of $1,000 before you're back on the road.

Tyre and rim insurance covers you for all kinds of accidental damage such as road debris puncturing your tyre or potholes and other obstructions cracking your rims. 

Often, tyre and rim insurance can cover you for longer than one year in with a single payment. Some policies offer no excess on claims and/or accommodation when your tyre or rim has been damaged far away from home and you can't get back.

If you want to know more, talk to an insurance or financial professional to see what kind of policies are out there and are right for you.