Key Takeaways
- Tyre and Rim Insurance has defined coverage limits.
- Benefits have a specific waiting period before they become active.
- It’s important that you read your policy documents to ensure you know exactly what’s covered and what is not.
It’s important to have a clear understanding of your Tyre and Rim Insurance policy from Bidvest Insurance to ensure you know what benefits you have and when you can use them. Here’s a comprehensive guide to help you understand your policy limits, exclusions and waiting periods.
What are Policy Limits?
Policy limits refer to the maximum amount that your Tyre and Rim Insurance will pay out for a claim. Understanding these limits is crucial to know the extent of your coverage. With Tyre and Rim Insurance from Bidvest Insurance, it is essential to be aware of these limits.
Understanding Your Policy Limits
At Bidvest Insurance, we believe insurance should give you real value and peace of mind. That’s why our Tyre and Rim Insurance is designed to put you back in the same position you were before damage occurred – without the hassle or unexpected costs.
Here’s how our policy limits work and why they stand out:
Cover is calculated per tyre, not just per claim event.
Your policy document clearly outlines the Rand value limits for tyre and rim damage. These limits apply per tyre, not just per event. This means you get cover for each damaged tyre individually (up to two tyres per incident), rather than a single lump sum for an incident. Many other insurers only offer cover per event, which can leave you out of pocket if more than one tyre is damaged.
Cover Includes Wheel Balancing and Alignment
We include the cost of wheel balancing and alignment with every replacement – many competitors don’t offer this, which means you save even more.
Claim for More Than one Tyre per Incident
You can also claim for up to two irreparable tyres in a single incident, and you’re allowed up to two separate claims per year. This flexibility is a major advantage – most insurers limit you to a set Rand value per year or only allow one tyre per claim.
Our cover options are tailored to suit your needs and budget:
- Up to R1,000 per tyre.
- Up to R2,000 per tyre.
- Up to R3,000 per tyre.
- Up to R4,000 per tyre.
If the wheel with the irreparable tyre also has a damaged rim, Bidvest Insurance will pay up to R750 towards the repair or replacement.
Replacement Tyre Liability Benefit
Insurance is designed to restore you to the same condition you were in before an incident occurred. With this principle in mind, the Replacement Tyre Liability Benefit takes into account how much tread your damaged tyre has already used. This means the amount covered for a replacement tyre is based on the remaining tread depth, ensuring a fair and accurate settlement that reflects the tyre’s actual value at the time of damage.
Tyre and Rim Insurance Waiting Periods
Waiting periods are the time frames you must wait before certain benefits become active after your policy starts. This prevents immediate claims and ensures fairness.
- New policies: The waiting period for Tyre and Rim Insurance from Bidvest Insurance is 30 days after your 2nd premium is collected. During this time, you won’t be able to submit claims for tyre or rim damage.
- Upgraded policies: If you increase your coverage, the additional benefits may have a waiting period.
The Importance of Reading Your Policy Documents
Reading your policy documents is essential to understanding what is covered and what is not. Here are some critical aspects to pay attention to:
Tyre and Rim Insurance Policy Exclusions
Bidvest Insurance’s Tyre and Rim Insurance policy has several exclusions that are important to understand. Some of these exclusions include:
- Pre-existing damage: Damage that existed before the policy started.
- Wear and tear: Gradual deterioration of tyres or rims due to normal use.
- Intentional damage: Damage caused deliberately or through reckless behaviour.
- Cosmetic damage: Damage that only affects the appearance and not the function of the tyre or rim.
- Commercial use: If the vehicle is used for commercial purposes.
For a full list of policy exclusions, please refer to your policy documents.
FAQs
Can I Upgrade my Cover if Needed?
Yes, you can upgrade your Tyre and Rim Insurance cover. Contact Bidvest Insurance to discuss your options.
Does Tyre and Rim Insurance cover damage from potholes?
Yes, damage caused by potholes is covered under your Tyre and Rim Insurance policy, as long as it meets the policy terms and conditions.
How Many Tyres Can I Claim for?
You may claim for up to 2 irreparable tyres in one incident, up to 2 incidents per year.
If you need more information or would like to utilise your Tyre and Rim Insurance policy benefits, you can contact our claims department directly at 0861 114 095 or via email at tyreangel@bidvestinsurance.biz.
