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About this tool
Insured Declared Value from ex-showroom price and vehicle age using the IRDAI depreciation grid, plus accessories and an indicative OD premium.
The Vehicle Insurance IDV Calculator works out the Insured Declared Value of a car or two-wheeler by applying the IRDAI depreciation grid to the ex-showroom price and any accessories fitted after purchase. IDV is the ceiling on what a total-loss or theft claim can pay, so setting it correctly matters more than shaving a few hundred rupees off the premium. It also shows the ±15% range insurers normally allow and an indicative own-damage premium at the rate you enter.
Open Vehicle 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.
Applies the IRDAI depreciation percentages — 5%, 15%, 20%, 30%, 40% and 50% by age band — instead of a made-up curve.
Non-factory-fitted accessories are depreciated at the same rate and shown as their own line, the way insurers endorse them.
Displays the ±15% band insurers commonly permit, so you can see how far the declared value can legitimately move.
Insured Declared Value is the current market value of your vehicle as agreed with the insurer, calculated as the manufacturer's listed selling price less depreciation. It is the maximum sum payable if the vehicle is stolen or written off as a total loss.
5% up to 6 months, 15% from 6 months to 1 year, 20% from 1 to 2 years, 30% from 2 to 3 years, 40% from 3 to 4 years and 50% from 4 to 5 years. Beyond 5 years the IDV is mutually agreed between you and the insurer based on the vehicle's condition.
The own-damage premium is a percentage of IDV, so a lower IDV does cut the premium — but it also cuts your total-loss payout by the same proportion. Under-declaring can leave a large shortfall if the vehicle is stolen.
No. IDV is based on the ex-showroom price of the vehicle plus any accessories fitted later. Registration charges, road tax and the insurance premium itself are excluded.
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