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Is IDV the same as market value or resale value?

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When should you use an IDV Calculator?

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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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When should you use an IDV Calculator?

This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India 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

16 March 2026

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IDV Calculator for Commercial Vehicles: How It Works

13 July 2026

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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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Our team will contact you shortly to provide personalized assistance with your insurance plan. Table Of Content What is IDV in Insurance, and Why Does it Matter for Commercial Vehicles?

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Step 2: Apply age-based depreciation

Every year, the worth of your car decreases. For instance: 1. Up to 6 months: 5% 2. 1 to 2 years: 20% 3. 3 to 4 years: 40%

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How Does an IDV Calculator for Commercial Vehicles Work?

Typical depreciation structure: 1. Up to 6 months: ~5% 2. 6 months-1 year: ~15% 3. 1-2 years: ~20% 4. 2-3 years: ~30%

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Is IDV the same as market value or resale value?

Although they are closely connected, IDV and your car's market or resale value are not exactly the same. IDV is the sum that your car insurance provider agrees to pay in the event that your vehicle is stolen or completely lost. A fixed technique based on price and depreciation is used to compute it.

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What is IDV in Insurance, and Why Does it Matter for Commercial Vehicles?

To put it simply, IDV is the amount you are entitled to in the event that your car is stolen or totally damaged. This becomes crucial for business cars since increased usage raises risk exposure.

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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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Why does IDV Affect Your Insurance Premium?

IDV directly affects your car insurance premium. While lower IDV lowers premium costs, higher IDV raises premiums. Insurance companies use a proportion of IDV to determine premiums. For cost-effectiveness, selecting the appropriate IDV is crucial.