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What factors impact Insured’s Declared Value (IDV)?

IDV plays a key role in determining your car insurance price

In a car insurance policy, the Insured’s Declared Value (IDV) is the fixed value at which we insure your vehicle. We calculate the policy sum insured based on the manufacturer's listed selling price of the vehicle + the listed cost of any accessories. We derive the amount after deducting the depreciation for every year as per the Indian Motor Tariff.

Suppose you have installed any electronic item in the car, which is not included in the manufacturer's listed selling price. In that case, we add the actual value (after depreciation) of the item to the policy sum insured over and above the IDV.

How can you save on your car insurance premium?

No matter what type of car you drive, certain discounts can bring down your car insurance price -

No Claim BonusF

If you made no claims in the past years, you get up to 50% NCB.


Security measures

If you’ve taken special measures to keep your car from getting stolen, you are eligible for a discount. Typically, you would receive a 2.5% discount for fitting an anti-theft device (approved by ARAI) on your car.

It is unwise to reduce IDV to save on premium. In case of an accident, you would find yourself at a disadvantage. Instead, ride safe and take security measures to get discounts on car insurance.

How do you get an online car insurance quote?

It’s quite simple -

Enter your car registration number and your contact details here.Check out the covers at affordable prices for your car and select the cover you like.You can also personalise your plan with useful add-onsG like Roadside Assistance, Zero Depreciation, Engine Protect, Garage Cash & Consumables Protect.

Based on your choices, we will calculate and display your premium instantly.