Well I'll be the first dissenter, I don't like it. When it cures out it's a very brittle film , subject to developing cracks and chips getting rust creep from them. There have been quite a few of these coatings on the market, they are all "moisture cured urethane" , POR , Rust Bullet, MasterSeries, KBS rust seal. They are all overpriced , make wild claims and will never pay a claim on their warranty because anything that goes wrong will be a prep/application mistake.
Truthfully I think you could do as well with regular old enamel like Rust Oleum or Zero Rust , the problem with most of these is everyone ignores the instructions for prep and Rusty Metal Primer ,does one heavy coat and leaves it. Ideally you would prep to their instructions then put down a base coat of one color such as red , then cover it with black, doing this would assure good coverage because you would have to hide all the red.
For underbody protection I have switched to a sprayable bedliner product, which cures out softer and is almost indestructable, but it's not fun to work with and you have to have some equipment to apply it.
Ray