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First documentWhy Online IDV Calculators Show Different Car Values | Generali CentralOpen original ↗
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Second documentHow to Calculate IDV of a Car? Step-by-Step Guide | Generali CentralOpen original ↗
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First paragraph50 words
FAQs
No, IDV isn't the same as resale value. IDV is calculated based on the ex-showroom price minus depreciation according to the insurer's guidelines. The resale value will depend on vehicle condition and market demand. Theft Claims are usually settled based on the agreed IDV and not the resale price.
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Second paragraph54 words
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.