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What Is Idv For Car Insurance? |
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Answer» If you ever have a total loss in an accident, IDV is the total COMPENSATION the insurance company will offer you CALCULATED as per the cost of your car at the time of taking insurance. Insured declared VALUE or IDV is the maximum amount that you can claim under a motor insurance policy. A NEW car just out of a showroom will therefore have a higher IDV than someone having the same car model but which has been on the road for say 6 months. If you ever have a total loss in an accident, IDV is the total compensation the insurance company will offer you calculated as per the cost of your car at the time of taking insurance. Insured declared value or IDV is the maximum amount that you can claim under a motor insurance policy. A new car just out of a showroom will therefore have a higher IDV than someone having the same car model but which has been on the road for say 6 months. |
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