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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.