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Guide to calculate your car insurance insured's declared value (IDV)


One of the most important aspects that you should know about is the IDV (Insured Declared Value) of the vehicle. It is one of the most important factors that directly affects the premiums of your car insurance . So, let’s learn more about IDV and how it is calculated.

What is IDV?

Insured Declared Value or IDV is the maximum sum assured that one would receive as a compensation for total loss or theft of the insured car. It is the current market price of the insured car, which you can claim from the insurance provider. For examples, if the IDV of your car is Rs 4 lakhs, then the maximum compensation that you can expect from the insurance provider will be Rs. 4 lakhs.

Car Insurance Calculator for IDV

It is easy to calculate the IDV of your vehicle by using a car insurance calculator. However, you can also calculate IDV without a car insurance calculator. All you need is the price at which the car is listed by the manufacturer. The car insurance provider will consider the value of your car in question prepared under the advisory of the Insurance Regulatory and Development Authority of India (IRDAI):

Age of your Car IDV Calculation
Up to 6 months 95%
6-12 months 85%
1-2 years 80%
2-3 years 70%
3-4 years 60%
4-5 years 50%


The IDV of the vehicle aged 5 years and above depends on:

  • The manufacturer(brand)
  • Car model
  • Availability of the spare parts

Factors that Affect Calculation of IDV

  • Registration details of the car
  • Vehicle’s city of registration; it should be the same as that mentioned on the registration certificate
  • Date of registration or date of purchase
  • Type of registration
  • Make and model of the car along with manufacturer
  • Cubic capacity of the car
  • Description of the vehicle
  • Ex-showroom price

How can Bharti AXA help you in the Process?

Bharti AXA is one of the leading insurance providers. There are many advantages if you avail insurance from Bharti AXA:

  • You can avail cashless claim settlement with over 2000 network garages.
  • You can apply as well as renew your policy car insurance online.
  • You get a 24/7 customer service assistance from Bharti AXA to get the best experience.

Bharti AXA Advantages

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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