Who buys tyres insurance and why?
Human nature is a wonderful thing. Psychologists and Philosophers have provided countless research and opinion on the subject for centuries. Of course in the modern world of marketing, the aim is to persuade consumers of their need and desire for any particular product, and the same is said of nearly every purchase we ever make in our lives.
So what are the reasons why we would buy tyre insurance in the first place? and who indeed would buy a tyre insurance product?
The first encounter with a tyre insurance product is normally with the motor dealer who is selling you the vehicle. If you have never heard about tyre insurance before, then the fact that this product exists may be a surprise. However, what will not be of any shock will be the cost of replacing a tyre on a car.
This is why to many consumers, tyre insurance makes sense. For the potential cost of replacing one tyre, you may be able to find a product in the market that will cover the cost of repair or replacement for up to 4 years (especially from a tyre insurance broker).
There are particular vehicle owners who this type of cover will appeal to even more. Those are the vehicle owners who have the new style 'run flat' tyres installed and fitted on their vehicles. These types of tyres are specifically designed to enable the driver to travel on the tyre, even when deflated.
There is one major drawback with a run flat style tyre - they are nearly impossible to repair if something happens to the tyre. This means if you get any type of puncture or damage, you may be looking at the cost of a replacement on each and every occasion.
So in answer to the question "Who buys tyre insurance in the UK?", the simple answer is anyone who can see the sense in protecting the cost of replacing a tyre in the next 4 years, and specifically anyone who has 'run flat' tyres fitted on their vehicle.