Paint Insurance, also known as Scratch & Dent Insurance, is sold to consumers as a method of protecting their car from minor body damage, such as scratches, dents, scrapes and chips. It’s provided by the insurance company covering the vehicle owner or, offered by a car dealer to the car buyer.
The benefit of paint insurance to the consumer is that it helps avoid the large payments associated with accident repairs or making a claim on the car insurance policy, which normally leads to increased premiums the following year, as well as the payment of policy excess.
Even though the paint insurance is ‘supposed’ to cover the owner of the vehicle, there are still some policies that won’t cover this damage. This could be due to the age or mileage of the vehicle, so it’s important you’re aware of your related policy terms and conditions. Some policies also have a limit to the amount of claims you can make; such as up to three claims per year or, a maximum cover price of £1,000.
The paint insurance can start for as little as under £10 per month, as cosmetic insurance will normally be cheaper than conventional car insurance policies. This type of insurance is worth considering if you drive often, park in tight spaces or have had the occasional minor damage to your car.
The excess cost of your normal car insurance policy will determine whether it is worth making a claim or not for certain types of damage. If the price of the insurance is cheaper by a large amount, it is definitely worth considering.
It is important to be aware of all the specific details of what your insurance company offers and what you have to report to your main insurer in case of a claim. This is to avoid potential termination of the policy that has been agreed, ensuring your claim for scratch and dent cover is correctly made from the paint insurance, if you have it, rather than your normal car insurance policy.