✓Save up to 80*% on Premium ✓Check Zero Depreciation & Accessories Cover ✓ Buy Car Insurance Now! Check Plans

An IDV calculator is an online tool that helps you calculate your car/bike market value or the IDV in a few seconds. The IDV calculator uses multiple variables like the vehicle's price, the year it was purchased, and the model/brand of the automobile. In short, IDV is the amount that the vehicle owner can claim for reimbursement against the damage caused to the insured vehicle.

Vehicle Number
Enter your vehicle number
Mobile Number
Enter your mobile number
Pin Code
Enter your pin code
Save up to 80% on Vehicle Insurance
Note: This is your car's recommended IDV as per IRDAI's depreciation guidelines However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.
Please Wait Until We Calculate your IDV ....

How Does IDV calculator Work

The IDV calculator helps in reducing your burden when calculating the IDV. Calculating IDV may be a tedious job and require time and effort. Without the IDV calculator, you may have to use the given formula to calculate IDV.


IDV = Manufacturer’s registered price - Depreciation


In case there were accessories that were not added by the manufacturer when the car was delivered, they will be considered as an additional expense. The formula will then include accessory components.


Insured Declared Value = (Manufacturer’s listed price – Depreciation value) + (Cost of the vehicle accessories – Depreciation value of accessories)

Car Depreciation Rate for IDV Calculation

When using the IDV value calculator, you can use the below-given table for reference to calculate the depreciation on your car depending on how old it is.

Age of Car

Rate of Depreciation

0-6 months


6 months - 1 year


1-2 years


2-3 years


3-4 years


4-5 years


Factors that Help Decide the IDV

When you use the IDV calculator, keep in mind that there are several factors that impact the IDV. Read on to get a brief idea of them.

  • Year of Purchase

The age of the car is one of the most important factors for IDV calculation. The depreciation increases with age and hence, the IDV decreases.

  • Make and Model

The IDV calculator will show you that the selling price of every vehicle is different and it depends on the make and model of the vehicle. The IDV is indirectly influenced by the make and model of the vehicle.

  • City of Registration

The city of registration influences the IDV calculator as a vehicle being used in a large city is prone to more risks than a vehicle running in a small town.

  • Standard Depreciation

The IDV is calculated based on the depreciation of the vehicle. Limited depreciation is allowed depending on the age of the vehicle.

Read More

Impact of IDV on Car Insurance

The IDV calculator will help you understand that the IDV of your car directly impacts the insurance premiums for your car insurance as the IDV determines the insurance claim payout.


  • If your vehicle has a high IDV, you will also have to pay a higher premium.

  • On the other hand, if you want to shell out a smaller amount for the insurance of your vehicle, the IDV will be lower.

  • If you voluntarily choose to go for a lower IDV than the actual value of your car, then you may end up with a loss when you need to claim insurance for damage or theft.

Why Should You Care About Your Car’s IDV

Your car’s IDV is surely one of the most crucial factors when deciding its insurance premium. You know by now that the IDV is the maximum coverage that your insurer will provide you if your car goes for total loss, where the repair cost is more than the value of the car, or in case of theft of your car. The IDV thus decides how much premium would be enough to cover the car.



While using the IDV calculator, you have certain control over the IDV of your car. While a lower IDV will result in a lower car insurance premium, it would also mean a lower liability for your insurer and in that case, when you require compensation, the amount would be lower too. On the other hand, a higher IDV on the IDV calculator clearly means a higher premium.


The IDV also plays an important part in determining the resale value of your car. In case you plan to sell off your car, a higher IDV would help you get a higher price. However, the buyer may try to negotiate the price keeping in mind the other aspects of your car.

Read More

Advantages and Disadvantages of High and Low IDV

Here are the benefits and downfalls of a high and low IDV in car insurance.


Type of IDV



High IDV

Higher compensation during total loss and theft claims

Higher premium amount


Lower premium amount

Lower compensation for theft or total loss

Best Car Insurance Policy Based on your IDV Value

In case you are looking to buy a car insurance policy, you must make use of an IDV calculator. You can check out the car insurance plans at Bajaj Markets in the table below, along with their important features:


Bajaj Allianz Car Insurance

Acko Car Insurance

HDFC Ergo Car Insurance

Third-party cover

Comprehensive Car Insurance

Third-party Premium (Effective 1st June 2022)

Starting from ₹2,094

Starting from ₹2,094

Starting from ₹2,094

Network Garages




Claim Settlement Ratio




Additional Covers

FAQs about IDV Calculator

What is the IDV of a new car?

The IDV is the manufacturer’s price minus the depreciation. Ideally, there should be no depreciation in the value of a new car, but once the car is sold, an amount is deducted as depreciation. If the car is less than 6 months old, 5% is deducted as depreciation.

Why does the IDV of a car reduce every year?

As the market value reduces every year due to the depreciation in the value with the car’s age and usage, the IDV of the car reduces each year. When using the IDV calculator you may see your IDV declines over the years.

Why does the IDV value of cars differ from one insurer to another?

When using the IDV calculator of different insurers you may see differences in the IDV. This happens because insurers usually reduce the IDV to attract customers by offering lower premiums. Lower IDV means lower liability and lower claim settlement amount.

What happens if one declares a low IDV?

When you select a lower IDV on the IDV calculator, you would be able to get a lower car insurance premium. While this may sound tempting, keep in mind that a lower IDV means lower compensation in case your car is lost or damaged beyond repair.

Is it a better option to go for a higher IDV?

While a higher IDV on the IDV calculator means higher coverage in case your car is stolen or is in a total loss, keep in mind that you would have to pay a slightly higher premium. Therefore, weigh the pros and come and decide accordingly.

What is the IDV for older cars that are more than 5 years old?

For a car that is 5 years or older, the IDV depends on a few other factors such as the overall condition of the car, the make, model and variant etc.

Will the purchase location have any impact on my car’s IDV?

As the ex-showroom price of the car is different for different locations, hence the IDV value will also change accordingly. This means, your car's IDV value does get affected by the purchase location.

Which IDV is the best for cars?

An IDV closest to the current market value of your car could be best for you. 


What is the Insured Declared Value of the vehicle outside the showroom?

The longer your car has spent outside the showroom, the higher its depreciation rate will be. The moment your car leaves the showroom, the depreciation of its components begins. For example, once your car has spent 6 months outside the showroom, it experiences a 5% depreciation. You can find an IDV depreciation chart to understand this concept in detail.

Should I increase the Insured Declared Value of my car?

If you increase the IDV of your car, you must keep in mind the fact that your premium amount will increase with it. While a higher IDV invites a higher compensation for total loss or theft, you will also find that the premium price of your policy will increase substantially.

How to calculate IDV for your car?

For this purpose, using an IDV calculator for car insurance would be apt. However, in order to manually calculate the IDV in insurance, you may use the following formula to compute the value.

Insured Declared Value = (Manufacturer’s listed price – Depreciation value) + (Cost of the vehicle accessories – Depreciation value of accessories)


The aforementioned formula can be used to calculate the IDV of a car that is equipped with various accessories. In other cases, the following formula can also be used. 


 IDV = Manufacturer’s registered price - Depreciation

Loan Offer
Download App