Car Insurance IDV Calculator
Calculate the Insured Declared Value (IDV) of your car and estimated comprehensive car insurance premium. Based on vehicle age, make, and depreciation schedule.
Car Insurance IDV Calculator
Insured Declared Value and estimated comprehensive premium by vehicle age
Premium estimates are indicative. Actual premiums vary by insurer, NCB, city, and add-ons. Compare on IRDAI-authorised portals before purchase.
IDV is the maximum claim you can get if your car is stolen or totalled. IRDAI mandates specific depreciation rates: 15% in year 1, 20% in year 2, 30% in year 3, 40% in year 4, 50% in year 5. A Rs 10 lakh car in year 3 has an IDV of only Rs 7 lakh. Negotiate for zero-depreciation add-on — it costs Rs 2,000–4,000 extra but protects your full claim amount for parts.
Car Insurance IDV — What It Is and Why It Matters
The Insured Declared Value is the cornerstone of your comprehensive motor insurance. It represents the maximum amount your insurer will pay in case of total loss or theft. IRDAI prescribes fixed depreciation rates for each year of vehicle age, ensuring consistency across insurers. Understanding your IDV helps you negotiate better premiums, choose the right add-ons like zero depreciation, and avoid being under-insured.