About this calculator
Choose the age of your vehicle to apply the standard depreciation, from 5% in the first six months to 50% between four and five years.
How to use it
- Enter the current ex-showroom price.
- Choose the vehicle’s age.
- Add accessories if any, and read the IDV.
The formula
IDV = ex-showroom price × (1 − depreciation %) + depreciated value of extra accessories
- Depreciation
- 5% up to 6 months, 15% up to 1 year, 20% up to 2, 30% up to 3, 40% up to 4, 50% up to 5 years
Worked example
A car with an ex-showroom price of ₹8 lakh, 1 to 2 years old
- Depreciation is 20%, or ₹1.6 lakh.
- IDV = ₹6.4 lakh.
What the result means
A higher IDV means a slightly higher premium and a higher payout on total loss. Setting it too low to save premium can cost far more at claim time.
Assumptions
- Ex-showroom price excludes registration, road tax and insurance.
Limitations
- For vehicles over 5 years old there is no standard rate; the value is agreed with the insurer.
- Insurers may offer a range around this figure.
Frequently asked questions
What is IDV in insurance?
Insured Declared Value: the sum insured for the vehicle itself, paid on theft or total loss.
Does IDV affect the premium?
Yes. The own-damage premium is a percentage of the IDV.
Is IDV the same as resale value?
No. It follows a fixed depreciation table, so the market price can be higher or lower.
Last reviewed on 7 October 2026. Found a mistake? Tell us.