I purchased it as well. One incident and it has paid for itself.
And no, it doesn't cover curb rash. My dealer specifically mentioned this when it was offered.
I also don't think it covers your tires for 5 years. For most of us, that would be numerous sets of tires. But I could be wrong. And if it does cover the tires, likely only if you continue to use the same tire (ie: brand, type, size).
@ajp no, it doesn't cover after market wheels. Only the OEM wheels that were on the car.
Perm-a-grin in place.....