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Page A-119
Can Choosing a Low IDV Affect While Filing Theft Claims?
Choosing a lower IDV in car insurance will reduce the premium. However, in the long run, it may have a negative impact on theft claims. If you opt for a lower IDV on your car insurance to save on premiums, the compensation amount will be reduced accordingly. This will apply regardless of the car's value in the event of theft. Therefore, if you plan to buy a replacement vehicle, there will be a significant financial gap.
Page A-255
Can Choosing a Low IDV Affect While Filing Theft Claims?
Choosing a lower IDV in car insurance will reduce the premium. However, in the long run, it may have a negative impact on theft claims. If you opt for a lower IDV on your car insurance to save on premiums, the compensation amount will be reduced accordingly. This will apply regardless of the car's value in the event of theft. Therefore, if you plan to buy a replacement vehicle, there will be a significant financial gap.