Motor Insurance Guide 2026
IDV Calculation How Your Car's Value is Decided
IDV (Insured Declared Value) is the maximum insured value of your car. Understand how it's calculated, depreciation rates, and how to set the right IDV.
What is IDV?
IDV = Manufacturer's Ex-Showroom Price - Depreciation + Value of Accessories. This is the maximum amount you'll receive if your car is stolen or totally damaged. Higher IDV = higher premium but better claim payout.
IDV Calculator
₹10.0 Lakh
₹0
Your Car's IDV
₹8.00 L
₹8,00,000
Ex-Showroom Price₹10.0L
Depreciation20% (₹2.0L)
Accessories₹0.00L
IRDAI Depreciation Rates
| Car Age | Depreciation % | Example |
|---|---|---|
| 0-6 months | 5% | ₹10L car → ₹9.5L IDV |
| 6 months - 1 year | 15% | ₹10L car → ₹8.5L IDV |
| 1-2 years | 20% | ₹10L car → ₹8.0L IDV |
| 2-3 years | 30% | ₹10L car → ₹7.0L IDV |
| 3-4 years | 40% | ₹10L car → ₹6.0L IDV |
| 4-5 years | 50% | ₹10L car → ₹5.0L IDV |
| 5+ years | Mutual agreement | Negotiated with insurer |
IDV FAQ
IRDAI Mandatory Disclaimer: Insurance solicitation ka subject hai. Ye content sirf educational purpose ke liye hai aur financial advice nahi hai. Please koi bhi purchase karne se pehle certified insurance advisor se consult karein. Paliwal Secure ek IRDAI-registered POSP (Code: IP429834) hai.