Why You Should Buy Bumper to Bumper Car Insurance for Hyundai Cars

What is Bumper-to-Bumper Insurance?

Bumper to bumper, nil depreciation or zero depreciation is a kind of car insurance policy that provides complete coverage to your vehicle irrespective of the depreciation of its parts. So, in the case when there is a loss or damage caused to your vehicle after an accident, the insurer will not deduct the depreciation value from the coverage (excluding car batteries and tires). And the best part is that your motor insurer will pay the entire cost of the replacement of the vehicle’s body parts. Policies such as these help you to stay free from the mental burden that comes with excessive financial costs, especially in case of depreciation and obsolescence, which are natural and inseparable aspects of daily life.

Bumper-to-Bumper policy is more beneficial for the following people:

• People who have purchased a new car.
• People with expensive luxury cars.
• Drivers with less driving experience.
• People living in areas that are more prone to accidents.
• People with luxury cars that have expensive spare parts.

Advantages of bumper to bumper car insurance policy:

• 100% coverage: get the best claim settlement even for car parts made out of rubber, plastic and metal without including any depreciation.
• New vehicle damage risk: Policyholders are worried about the accidental risk for their brand-new vehicle some plans do not cover the total vehicle. Bumper to bumper insurance plan covers 100% damage cost for your new vehicle.
• The insurance company bears the maximum cost of repairs, subject to certain mandatory deductions.
• This policy is perfect for people who prefer all-year protection for their cars.

Factors determining the Hyundai insurance premium for bumper to bumper cover:

• Age of the vehicle: Usually, insurance companies do not offer this Add-On cover for cars older than 5 years.
• The model and make of the vehicle:  In principle, you can take this cover on any model, but people usually prefer to take it on the higher-end models.
• The residential area of the vehicle owner: Whether your residence is in an accident-prone area or in an area with comparatively less risk

Bumper to bumper vs comprehensive car insurance:

PARAMETER                  COMPREHENSIVE POLICY             ZERO DEPRECIATION POLICY

Premium                                      Low                                          Comparatively high

Max. number of claims                  No Limit                                    Limited to 2

Car age limit                                 All cars up to 15 years old            New cars till 5 years

Plastic (all parts made with plastic) 50% is covered                           100% covered

Glass – Windshield, side glass                                                         100% covered 100% covered

Metal parts

1st year-                                           95% ,

2nd year-                                          90%

3rd year-                                           85%, 

4th year-                                           75%

5th year-                                          65%, up to 10 years 50% covered 100% covered

Airbags (damaged due to accident) 50% is covered                         100% covered

Burglary Up to IDV covered Up to IDV covered

Claim settlement       Current value after depreciation is covered IDV without depreciation is covered

Non-deductible spare parts/ labour charges 100% covered 100% covered