Tire and wheel insurance grows in popularity.(Finance & insurance)

Byline: Dan Westell

Tire and wheel insurance occupies an obscure corner of the finance and insurance universe. But dealers and insurers say it is a fast-growing business.

Buyers often spend as much as $4,000 on wheels and tires for SUVs, and $2,000 for tire sets for import vehicles.

High-performance cars routinely use low-profile tires to accommodate bigger wheels. That puts more stress on the wheels, which provides a greater incentive to buy insurance.

Everyday vehicles, too

Yet tire and wheel coverage also is popular for everyday vehicles. The insurance often is marketed as a roadside warranty or service contract.

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