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If you have an expensive car or you have bought a car for the first time, then a bumper to bumper insurance will be your new best friend.
In a standard motor insurance policy, your claim (for damages, if any) will be settled after accounting for depreciation and wear and tear of the vehicle. As a result of these deductions, the replacement cost of the parts will also be higher. The solution for this issue comes in the form of an add-on to your policy.
Also called zero depreciation cover, bumper to bumper insurance is a comprehensive motor insurance policy that offers coverage for all fibre, rubber and metal parts of cars, and no depreciation is deducted from the sum insured when the vehicle is damaged and you make a claim on the policy. Some insurance players offer covers such as roadside assistance, tow away service and emergency transports also.
However, it does not cover engine damage due to water ingression or oil leakages, private vehicles used for commercial purposes or cars older than three years. So, read the fineprint for a smooth claim process.
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