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My 14 Z51 back rear had a bolt in the middle tread, I purchased the tire and rim ins for $775 from my dealer 0 deductible. Took it to my dealer replaced at no cost and no hassle. I bought it for the new GS I pick up Tuesday at the NCM.
C7 tires are not directional. You can swap them side to side.
Yes. They are asymmetrical and have an inside and an outside, but no rotation direction.
The OM calls for this to be done every 7500 miles. I never did this on the C6, but did this once on the C7. I did not like the way it handled after that, so I won't be doing it again.
Is the tire insurance you get at the dealer or is an option when ordering?
It can be bought at different times, however it is usually offered at the time you're purchasing the car from the finance guy (in my experiences), and it usually includes wheels, or you can ask for it and wrap it up in the deal.
I haven't had to use it with my C7, but have taken advantage of it repeatedly on different vehicles. Over the last 10 years it has replaced two 19 inch rims on my M3, two Michelin PSS sports (different incidences, and BMW will not patch a tire), one 20 inch BFGoodrich on my tundra. All of these were relatively low mileage tires, the one on the tundra had 1800 miles, and was replaced with a new tire. The nail was too close to the sidewall.
When I sold my tundra after a year of ownership and one replace tire, they refunded me 80% of the cost of the insurance.
So yeah for me tire and wheel insurance has been well worth the money.