What tyre damage is included in this, things like blowouts and punctures?
If yes, then I'd say it's worth it. I went over a very small piece of pipe in the Nismo and the rear tyre blew out instantly. No damage to the car/alloy, but a new tyre was £260. So worth £250 all day long.
Also, one of mine has curb damage (misses avoiding a cat), which will cost me circa £200 to put right.