Protecting Your Car From Front To Back
At first glance the title bumper to bumper sounds like it covers everything that happens to your car between one bumper and the other. Is that really the case though? Is everything protected between those bumpers when you have this type of coverage? It’s important to understand what every type of coverage actually does, so that you best understand the coverage that you need.
What Is Bumper To Bumper Insurance?
First of all, Bumper To Bumper coverage is usually and add-on to your comprehensive car insurance policy. What does it entail? This coverage offers protection against all dents, scrapes, and scratches to the exterior of your car, minus your tires, glass, batteries, and engine. It’s a type of coverage often preferred by drivers that are in high risk driving scenarios on a regular basis, or by luxury car owners that are very particular about any depreciating nick to their fancy vehicle. It is also referred to as Zero Depreciation, or Nil Depreciation coverage, and will protect your car from anything that would attribute to the depreciation of its outward value.
Who are the drivers this category of insurance most suits? Here’s a list of some of the most holders of this type of insurance coverage.
- New car owners that have only owned their car for 5 years or less.
- Luxury car owners that know how much even a small dent or scratch can cost to be repaired on their luxury vehicle.
- Drivers that drive in high-risk scenarios with regularity.
- Drivers that live in areas prone to accidents.
Benefits Of Bumper To Bumper Insurance
For anyone that cares a lot about their car’s appearance, which is most car owners, those folks enjoy the idea that their car will always look in tip-top condition. If that’s the case for you, then Bumper To Bumper coverage is going to give you the kind of security that will put your mind at ease while driving your car, and leaving it parked places. Your car will be protected from the depreciation that comes from exterior damages, and grant you a greater sense of peace.
Another benefit of Bumper To Bumper insurance is that for anyone that’s a new driver there will be an added sense of protection. All of us remember the nerve wracking feeling of that first turn onto a heavily trafficked street, and how worried you were about hitting another vehicle, or being hit. That first time any of us had to parallel park, and maybe didn’t quite judge the distance between our car and the other cars between us. Bumper To Bumper gives that little extra boon, that let’s you know your first mistake won’t have to be one you can’t fix.
Lastly, it’s going to help anybody that owns a car, that lives in a possibly high-risk area for accidents. If you live in a highly trafficked area, then peace of mind around your car is probably a hard thing to come by. Bumper To Bumper coverage will grant you that extra bit of security that busy city life often strives to take away.
What Is Not Covered By Bumper To Bumper Insurance
While Bumper To Bumper coverage will help maintain the aesthetics of your car, unfortunately, it doesn’t do much for anything else. If you have any mechanical breakdowns, you’ll have to pay for those yourself, or have them covered by another type of insurance. Engine trouble isn’t covered under this coverage, and neither are any oil changes, or other forms of maintenance. Any dents to the exterior, or glass breakage, will fall under the auspices of your Bumper To Bumper Coverage, but when it comes down to a lot of the factors that make your car keep moving after an accident, then that’s going to come down to your comprehensive or collision coverage.
How Worthwhile Is A Zero Depreciation Policy?
Before getting into whether a Zero Depreciation policy is worth it or not, let’s first discuss what depreciation actually means. Depreciation is degradation of value in your car that happens over time, affecting the market price of your car, which also affects the overall claim amount that you’ll receive from your insurer once you get your settlement. The car owner will be liable for the cost of the depreciation of their vehicle, as evaluated by the claim assessor, and then will be applied to the claim amount being made. If you have a Zero Depreciation policy, then you’ll be protected from this, and your car will be valued at its full potential when making claims.
Here is a breakdown of what’s covered by a Zero Depreciation policy, and what it may cost you, to give you a better frame of reference for the worth of the policy itself:
- Because Zero Depreciation plans offer a much greater piece of mind to anyone that has them, they will tend to cost somewhere between 10%-20% greater than just a comprehensive auto insurance policy.
- Zero Depreciation plans are really only for cars five years old or younger, or for cars that have an extremely low amount of mileage on them. The higher premium you’ll have to pay for this policy isn’t really worth it for much older vehicles that have seen a good amount of wear and tear.
- There are a limited number of claims per year that you can make on a Zero Depreciation policy, so make sure that it’s going to be worthwhile claim, because you most likely will only get to make one every year.
- Zero Depreciation policies do not cover any damage caused by ingression of water into your engine, oil leaks, tires, brakes, mechanical problems, and general wear and tear on a car.
- Included in a Zero Depreciation policy is also a compulsory deductible to be paid before any claims are settled. Check your policy to see exactly what that entails.
Here are a few things that will nullify your claim as well, so take note to get the most out of your Zero Depreciation Policy:
- If the driver driving didn’t have a valid driver’s license.
- The driver driving was intoxicated during the accident.
- The car was being used for illegal or dangerous activity.
- The vehicle was used for commercial purposes.
- The claim is not made in a timely fashion.
It’s a lot to consider, in regards to whether a Zero Depreciation policy is worthwhile, but this data should help you make the right decision.
Bumper To Bumper Vs. Comprehensive Car Insurance
At the end of the day, you will need to have Comprehensive car insurance over Bumper To Bumper, and quite commonly the latter will be considered an add-on to Comprehensive. Comprehensive insurance will cover mechanical and engine damage, which will keep your car moving. Whereas Bumper to Bumper is much more about the aesthetics of your car being maintained. If you have to choose, then Comprehensive is going to be the more necessary insurance to ensure that you are able to keep your car moving after an accident. If you have the means to acquire both forms of insurance, then you’ll be in the safest spot you can be in regards to all of your cars post-accident needs.