All-Round Car Protection: Why Bumper to Bumper Insurance is Essential!
New Delhi : Bumper to bumper, also known as zero depreciation cover, is an add-on feature offered by insurance providers that provides additional benefits and advantages to policyholders. You have to pay an amount in addition to the actual car insurance price in India in order to avail of this add-on benefit. Read on to know about the advantages of having a bumper to bumper (zero depreciation) cover.
Benefits of Bumper-to-bumper Cover
Here are the key benefits of bumper-to-bumper coverage:
● Full Coverage for Repairs:
With a bumper to bumper cover, the policyholder is protected from the depreciation factor that affects the value of the vehicle and its parts. The insurance company covers the full cost of repairs or replacement without factoring in depreciation, ensuring that the policyholder receives the maximum claim amount.
● Lower Repair Costs:
The policy covers the full cost of repairs or replacement of damaged parts, including those prone to wear and tear. This reduces the financial burden on the policyholder, especially for expensive parts like the bumper, headlights, or mirrors.
● Reduced Out-of-Pocket Expenses:
In the event of an accident or damage to the insured vehicle, policyholders with a bumper to bumper cover have significantly reduced out-of-pocket expenses. They only need to pay the deductible/excess amount as specified in the policy, while the insurance company covers the rest.
● Transparent Settlement:
The policyholder knows upfront what they will receive in case of a claim, as the coverage is based on the actual cost of repairs or replacement without factoring in depreciation. This transparency ensures a fair and hassle-free claim settlement experience.
● High-Value Vehicle Protection:
For expensive vehicles with costly spare parts, a bumper to bumper cover is highly advantageous. It safeguards the policyholder from bearing the substantial expenses of repairing or replacing expensive parts in case of accidents.
● Quick and Efficient Claim Settlement:
With a bumper to bumper cover, the claim settlement process is generally smoother and faster. Since depreciation is not considered, there is no dispute over the value of the damaged parts, resulting in quicker claims processing.
● Stress-Free Ownership:
With a bumper to bumper cover, policyholders enjoy peace of mind knowing that their vehicle is fully protected. They don't have to worry about incurring significant costs for repairs or replacements, especially for damages caused by unavoidable circumstances or accidents.
● New Vehicle Protection:
Bumper to bumper cover is particularly beneficial for new vehicles, as they are more susceptible to damages. The policy ensures that any repairs or replacements needed due to accidents or damages are covered comprehensively, maintaining the vehicle's original condition.
● Enhanced Vehicle Resale Value:
By maintaining the vehicle's original condition through comprehensive coverage, a bumper to bumper cover helps retain its resale value. This benefit can be advantageous when the policyholder decides to sell or exchange their vehicle in the future.
Conclusion
Having a bumper to bumper cover is a wise choice for vehicle owners who want comprehensive protection and cost savings. It provides full coverage for repairs without factoring in depreciation, reduces out-of-pocket expenses, offers quick and transparent claim settlement, and ensures peace of mind throughout the ownership period. It is particularly beneficial for new and expensive vehicles, promoting worry-free driving and safeguarding the investment made in the vehicle.
