IDV: Insured Declared Value
Set it too low and you underinsure; too high and you overpay.
Your numbers
- Depreciation applied
- 30.00%
- Vehicle age
- 3 yr 0 mo
- Indicative own-damage premium
- ₹25,200
What this means.Insurers often quote a lower IDV to show a cheaper premium. If your car is stolen or written off, the IDV is exactly what you receive — so a ₹50,000 lower IDV to save ₹1,500 of premium is a bad trade.
Questions
Is this insurance information specific to India?
Yes. Everything on Credsir is written for Indian regulation, Indian tax law and Indian products — RBI rules, IRDAI norms, SEBI regulation and the current financial year’s income tax provisions.
How often is this page updated?
Rate tables are refreshed weekly, and immediately after an RBI policy change or a Budget announcement. Every figure on the page carries the date it was captured and a link to its source, so you can always see how current it is.
Does Credsir get paid to rank products here?
No. We earn from partner links and advertising, but rankings come from a published scoring formula that runs identically on every product, whether we earn from it or not. Products we make nothing from appear in these lists whenever they win on the numbers.
Are these the rates I will actually be offered?
Advertised rates are the best case, reserved for applicants with a high credit score, stable income and a favourable profile. Your offer depends on your credit score, employer, income and existing obligations. Treat published rates as the floor, not the quote.