Motor Insurance Calculator
IDV Calculator (Insured Declared Value)
Estimate your car or two-wheeler's Insured Declared Value (IDV) using the IRDAI depreciation schedule. Indicative output for own-damage premium and total-loss settlement, not a quote.
Educational estimate — not a quoteThis calculator provides indicative estimates for educational purposes only. Actual premiums and coverage amounts vary by insurer, plan, and individual risk profile. This is not a quote. For actual quotes, please contact a licensed insurance advisor or visit an IRDAI-licensed comparison platform.
Indicative IDV
₹4,80,000
Educational estimate using the IRDAI depreciation schedule. Actual IDV in your policy may vary by ±5-10% based on insurer condition assessment.
Why IDV matters
- Total-loss claims (theft, write-off): insurer pays up to declared IDV, capped at the actual market value.
- Own-damage premium: calculated as a small percentage of IDV — higher IDV ⇒ higher premium.
- Partial-damage claims: IDV is largely irrelevant; what matters is repair cost minus part-by-part depreciation.
Show the math step-by-step
- Ex-showroom price
- ₹8,00,000
- Vehicle age
- 36 months
- IRDAI depreciation band
- 3 to 4 years
- Depreciation rate
- 40%
- Base IDV (% of ex-showroom)
- 60%
- Indicative IDV
- ₹4,80,000
The IRDAI depreciation schedule
The IRDAI publishes a fixed depreciation table that all general insurers must use as the starting point for IDV calculation in the first five years of a vehicle's life. The schedule is based on age from the date of registration, not from the date of manufacture.
| Vehicle age | Depreciation | IDV (% of ex-showroom) |
|---|---|---|
| Up to 6 months | 5% | 95% |
| 6 months to 1 year | 15% | 85% |
| 1 to 2 years | 20% | 80% |
| 2 to 3 years | 30% | 70% |
| 3 to 4 years | 40% | 60% |
| 4 to 5 years | 50% | 50% |
| Over 5 years | Mutually agreed | Typically 35-50% (condition-based) |
Frequently asked questions
- What is IDV?
- IDV (Insured Declared Value) is the insurer's estimate of your vehicle's current market value at the start of the policy year. It is the maximum amount the insurer will pay in case of a total loss — theft, or an accident severe enough to be declared a constructive total loss. IDV does not directly drive partial-damage claim payouts; those are based on repair cost minus part-by-part depreciation.
- How is IDV calculated?
- IRDAI publishes a depreciation schedule that maps vehicle age to a percentage discount on the manufacturer's listed selling price (ex-showroom price). Up to 6 months of age the depreciation is 5%, 6-12 months it is 15%, 1-2 years 20%, 2-3 years 30%, 3-4 years 40%, and 4-5 years 50%. After 5 years the IDV is mutually agreed between insurer and policyholder based on condition — typically 40-50% of ex-showroom plus or minus a condition adjustment.
- Should I declare the highest possible IDV at renewal?
- Not necessarily. A higher IDV raises the own-damage premium component (it is calculated as a percentage of IDV) and only matters at total-loss claim time, where the insurer pays the lower of declared IDV and assessed market value. For partial-damage claims (the bulk of motor claims), IDV is largely irrelevant — what matters is the repair cost and the part depreciation grid. A reasonable middle-of-the-range IDV typically gives the best balance.
- Why does my insurer's IDV differ from this calculator?
- Insurers can adjust IDV within a permitted band based on the vehicle's actual condition, accessories, and modifications. This calculator uses the standard IRDAI depreciation schedule on the ex-showroom price you input — for an actual policy, the insurer's surveyor or underwriting algorithm may add or subtract to reflect specifics like sunroof, alloy wheels, custom audio system, or accident history.
- Does this work for two-wheelers and commercial vehicles?
- The same IRDAI depreciation schedule applies to private cars and two-wheelers up to 5 years of age. For commercial vehicles (taxis, goods vehicles), insurers often use a slightly different schedule that reflects higher utilisation. This calculator is calibrated for private cars and two-wheelers; treat the output as a starting point only for commercial vehicles.
- Is this a quote?
- No. This is an indicative educational estimator. Actual IDV agreed in your policy depends on insurer underwriting, vehicle condition, accessories, and any condition-based adjustments. For an actual quote, please consult a licensed insurance advisor or visit an IRDAI-licensed comparison platform.