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How Does the Chosen IDV Affect the Car Insurance Premium?
● Higher IDV: higher premium, higher payout on total loss or theft ● Lower IDV: lower premium, lower payout on total loss or theft ● Appropriate IDV: balanced premium, fair, realistic coverage
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How IDV Affects Car Insurance Premiums?
The relationship here is fairly simple once you see it laid out. ● Higher IDV: higher protection limit, higher premium, larger theft payout potential ● Lower IDV: lower protection limit, lower premium, smaller theft payout potential