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About this tool
Insured Declared Value from ex-showroom price and vehicle age using the motor tariff depreciation slabs, plus under-insurance impact.
Insured Declared Value is the manufacturer's listed selling price of your vehicle less depreciation for its age, and it is the amount a total loss or theft claim pays. This calculator applies the India Motor Tariff depreciation slabs — 5% up to six months, 15% to one year, 20%, 30%, 40% and 50% through year five, and mutual agreement beyond that — to the vehicle and separately to accessories not included in the listed price. It also shows what happens to a partial-loss claim when the IDV declared is lower than the correct figure.
Open Motor Insurance IDV Calculator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Uses the depreciation table insurers apply, including the exact month boundaries between bands.
Applies the same depreciation to add-ons not covered by the vehicle's listed price.
Applies the condition of average so you see the rupee cost of declaring a lower IDV.
Take the manufacturer's listed ex-showroom price for that make and model, exclude registration charges, road tax and insurance, then deduct depreciation for age — 5% up to six months, 15% up to one year, 20% up to two years, 30% up to three, 40% up to four and 50% up to five years. A ₹8,00,000 car aged 30 months has an IDV of ₹5,60,000.
The tariff does not fix a rate beyond five years — IDV is mutually agreed between the insurer and the owner based on the vehicle's condition, usually after a survey. Insurers commonly continue to reduce it year on year, but there is no prescribed percentage.
Lowering the IDV reduces the own-damage premium in proportion, but it also caps the total loss and theft payout at that lower figure, and a partial-loss claim is settled proportionately under the condition of average. Declaring ₹4,00,000 against a correct ₹5,74,000 pays only about 70% of any partial claim.
Only if they were part of the manufacturer's listed price. Anything fitted afterwards — a CNG or LPG kit, music system, alloy wheels — must be declared separately and is insured at its own listed price less the same age-based depreciation.
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