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Expert Note

This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) and commonly followed industry practices. Policy coverage and conditions may vary by insurer.

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This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) and commonly followed industry practices. Policy coverage and conditions may vary by insurer.

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How Often Should You Recalculate Your Car's IDV Before Renewal?

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How Is IDV Calculated Differently for Electric Cars Than Petrol Vehicles?

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What Is the Standard Depreciation Schedule Used by Every IDV Calculator?

● Not exceeding 6 months: 5% depreciation ● Exceeding 6 months, up to 1 year: 15% ● Exceeding 1 year, up to 2 years: 20% ● Exceeding 2 years, up to 3 years: 30%

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What Is the Basic Formula Used to Calculate Car IDV?

● Up to 6 months: 5% depreciation ● 6 months to 1 year: 15% depreciation ● 1 to 2 years: 20% depreciation ● 2 to 3 years: 30% depreciation

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How Is IDV Calculated?

The formula behind every IDV calculator is the same one prescribed under India's motor insurance tariff: IDV = (Manufacturer's listed selling price − Depreciation) + (Cost of non-factory accessories − Depreciation on those accessories)

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How Is IDV Calculated Differently for Electric Cars Than Petrol Vehicles?

The formula for IDV calculation for electric and petrol cars is similar; price from the showroom, accessories, and depreciation based on age. But electric cars often start with a higher base value, and battery cost adds a layer petrol cars don't have. This guide explains how IDV works for both fuel types and what to compare before choosing a policy.