I have had this 3M product on my car for 4 years. It does a great job of protecting the paint but unless you cover half of your hood you are going to get chips. I went with covering the front 6" and have a few chips beyond that area. As far as bugs go, some will rinse off with a hose but others will require washing off with soap and a mitt. No elbow grease required.
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2012 Kona Blue GT Premium 401A, Manual, 3.55, Steeda Pro-Action Shocks, Struts, Sport Springs, LCAs, Adjustable Swaybars, Adjustable Panhard Bar, BMR Relocation Brackets and Adjustable UCA, Driveshaft Shop Aluminum Drive Shaft, Airaid CAI, MGW Shifter, GT500 Axle-Backs, 3M Clear Bra and Tint, Side Window Louvers, JLT Oil Separator, Staggered MMD Zeven Wheels and Mickey Thompson Street Comp Tires, Bama 93 Race Tune