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We're here to help you find the perfect insurance plan. our team will get in touch. Health Insurance Travel Insurance Motor Insurance Home Insurance Lifestyle Insurance

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We're here to help you find the perfect insurance plan. our team will get in touch. Health Insurance Travel Insurance Motor Insurance Home Insurance Lifestyle Insurance

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Is IDV the same as market value or resale value?

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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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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How to Calculate IDV of a Car? Step-by-Step Guide

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

10 September 2026

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How does IDV affect your car insurance premium?

The IDV directly affects the premium you pay for car insurance. Consider this: if your vehicle is completely lost, your car insurance provider may be required to pay more if your vehicle's insured value is higher. Your premium goes up as a result of that increased risk.

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How Does the Chosen IDV Affect the Car Insurance Premium?

The IDV you settle on shapes both your premium and what you'd get paid out. A high IDV would lead to a high car insurance premium, whereas a low IDV would reduce the premiums but lower the payout.

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Our team will contact you shortly to provide personalized assistance with your insurance plan. Table of Content What is IDV in car insurance? How is IDV calculated for a car?

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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.

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What is the depreciation rate used to calculate IDV? How does IDV affect your car insurance premium? Why does IDV reduce every year What happens if you choose a lower or higher IDV than recommended

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How Does the Chosen IDV Affect the Car Insurance Premium?

The IDV you settle on shapes both your premium and what you'd get paid out. A high IDV would lead to a high car insurance premium, whereas a low IDV would reduce the premiums but lower the payout.