Insurance Idv Value Calculator
Ideally it should be close to the market value of your two wheeler so that in situations of theft or damages you get compensated accordingly.
Insurance idv value calculator. Insured declared value is what your bike is valued at in the market after calculating the depreciation on it. Let s put it across with a simple example say you buy a brand new bike for rs 1 lakh excluding the cost of registration road tax insurance accessories et al. The sum insured amount of your car insurance policy at the time of claim settlement. What is idv in bike insurance.
Insured s declared value idv calculator vehicle type. The idv value of car or insured declared value for cars is the maximum amount you can get i e. As idv is the amount that the two wheeler insurance policy holder is compensated in case the two wheeler suffers damages beyond repairs or if it is stolen it s extremely important to settle on a rational value. The idv calculator is an online tool that determines the market value of your car as well as estimates the ideal premium amount that you should be paying for your car insurance.