Seems a good deal considering the price of the tyres.
I took out a policy with AA Tyre Insurance for £35 which covers damage/repair for £100 per tyre up to £400 per year. Thing to bear in mind is the price they quote for replacement rubber - Dunlop 16" runflat came out as £190

so I'd have to fork out £90 myself. You could argue there's not much to gain because I've seen internet prices for the tyre for around £100.
But at least the AA guy managed to repair the puncture at the time for free!