IDV Calculator

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All about IDV in Car Insurance

How to Calculate IDV for Car Insurance?

IDV Calculator- Calculate the IDV for your Car

An IDV calculator is one of the most important insurance calculator tools, as it helps one determine not only the market value of their car but also helps in determining the right amount of premium you should be paying for your car insurance.

This further helps us (the insurer) determine the right amount payable during claims and God forbid, in cases where your car is stolen or damaged beyond repair. 

Know more about Depreciation rates for your Car

Age of the Car

Depreciation %

6 months and below


6 months to 1 year


1 year to 2 years


2 years to 3 years


3 years to 4 years


4 years to 5 years


Let us understand how the depreciation rates are used to calculate your car’s IDV with the help of the following example.

For example: If your car is less than 6 months old and its current ex-showroom price is Rs. 100, the depreciation rate is only 5%. 

Which means that after its purchase, your IDV drops to Rs. 95 – dropping to Rs. 85 for vehicle age exceeding 6 months but not exceeding 1 year, Rs. 80 for vehicle age exceeding 1 year but not exceeding 2 years, Rs. 70 for vehicle age exceeding 2 years but not exceeding 3 years, and so on – until it is Rs. 50 after 50% depreciation in its 5th year.

If your car is more than 5 years old, the IDV depends on the condition of the car – the manufacturer, model, and availability of its spare parts.

At the time of resale, your IDV is indicative of the market value for your car. However, if you have maintained your car really well and is shining as good as new, you can always aim at a price more than what your IDV might offer you. At the end of the day, it all boils down to how much love you have showered on your car.

What Factors Help Determine Your Car's IDV?

  • Age of the Car: Since the IDV represents the market value of your car, the age of your car is extremely important to help determine the right IDV. The older your car is, the lesser will be its IDV and vice versa. 
  • Manufacturer Make and Model of the Vehicle: The make and model of your car is directly influenced to your IDV. For example; a car like a Lamborghini Veneno will have a higher IDV than that of an Aston Martin One due to its difference in their make and model.
  • City Registration Details: Your car registration details are available on your registration certificate. Also, the city where your car is registered has an impact on its insured declared value. The IDV of your car in a metro city may be less than its IDV in a tier-II city.
  • Standard Depreciation (As per Indian Motor Tariff): Your car’s value depreciates from the moment you drive it out of the showroom– and the percentage of its depreciation increases with each year. This too ultimately affects your IDV. Here’s a table to help you understand the respective depreciation rates with context to your car’s age. 

How does IDV Affect Your Car Insurance Premium?

How to Choose the Right IDV for your Vehicle?

Explain it like I'm five

We're making insurance so simple, now even 5-year-olds can understand it.

You own an expensive watch. One day, you decide to find out how much you would get if you sold it. You take it to a watchmaker. The watchmaker looks at your watch, and explains that it is made of glass, metal, leather and screws. So, he first adds up the cost of those materials. He then asks you how old the watch is, and you tell him that it is 5 years old. He writes that down as well. Based on all of this, he tells you that if you sold your watch, you would get Rs. 500. In this case, Rs. 500 is your IDV!

FAQs about IDV in Car Insurance