Two-Wheeler IDV Calculator
What is IDV & Why it Matters
Insured Declared Value (IDV) is the maximum sum assured in case of theft or total loss of your two-wheeler. It’s crucial as it determines the premium you pay and the claim amount you receive…
How to Use This Calculator
- Select your two-wheeler’s brand and model.
- Enter the year of purchase.
- Enter the kilometers run.
- Click ‘Calculate IDV’.
Formula & Methodology
The IDV is calculated based on the vehicle’s age, make, model, and kilometers run. The formula used is…
Real-World Examples
Data & Statistics
| Year | IDV | Premium |
|---|---|---|
| 2020 | 1.5L | 6,000 |
| 2021 | 1.45L | 5,800 |
Expert Tips
- Regularly update your IDV to avoid underinsurance.
- Consider the depreciation rate of your two-wheeler.
Frequently Asked Questions
What is IDV depreciation?
IDV depreciation is the reduction in the Insured Declared Value of your two-wheeler over time…
IRDAI and ISB are great resources for understanding IDV and insurance.