Is the safety lease program worth it?

[alexmish]

Generally speaking, you should only buy insurance on things you can not afford to pay out of your pocket when s..t hits the fan, or when cost of insurance gets covered by even 1 minor incident. For example - your health costs, house/structure insurance, full car insurance (100/300K) etc. For Tire & wheel warranty, lease end condition, appliance/TV and other things the insurance only makes sense if the cost of it is less than 10% (that is my threshold, yours could vary) of what you would have to pay out of pocket if you did not have it.

For example, BMW tire and wheel warranty, which is typically sold for around $1200. Assuming (based on previous experience), I will get 1 flat and 1 damaged rim over the lease's period of time, I might as well just pay for that replacement, which is about $800 including mounting and balancing. So if someone would offer me such protection for $100 or less, I would take it. Otherwise, it is money wasted IMHO - I'll keep the money until I need to spend it (if at all).