Vehicle IDV Calculator
Calculate the Insured Declared Value (IDV) of your vehicle for insurance purposes.
Uses the IRDAI-mandated depreciation schedule by vehicle age. For vehicles older than 5 years, IDV is negotiated between insurer and owner based on the vehicle's condition.
Insured Declared Value (IDV)
₹7,20,000
Depreciation applied
20%
With 2 years of age (20% IRDAI depreciation), your vehicle's IDV is ₹7,20,000 — this is the maximum amount your insurer will pay in case of total loss or theft.
How this calculator works
IDV (Insured Declared Value) is calculated by applying the IRDAI's standard depreciation schedule to your vehicle's ex-showroom price, based on its age — newer vehicles depreciate less and therefore have a higher IDV.
Worked example: a car with a ₹9,00,000 ex-showroom price that is 2 years old has a 20% depreciation applied under the IRDAI schedule, giving an IDV of approximately ₹7,20,000 — the maximum your insurer would pay in case of total loss.