I have not done it with my own car, but my father did it with his Prius. The film does offer a level of protection against chips, but there by my opinion a downside. It is unlikely that you will cover the whole of your car, so at some point, there will be a seam. this material is not microscopically thin, so the edge where the film ends tends to be a catch point for dirt, grit and other undesirables. So while the paint under the film is protected for the most part, the line where the film ends tends to take far more abuse.
Sadly, it is not a perfect world out there and I don't know if the added protection really gains you much. I had on a prior car many years ago one of those bra covers. it was a similar type of idea in it was supposed to protect the front of the car from chips. it ended up causing more as dirt and crap got underneath. this film will stop that but I have seen that it doesn't last forever and after you remove it, the top edge line looks far worse than what was protected.