IDV Calculator for Car and Bike Insurance
The insured declared value (IDV) of your car or bike from the standard depreciation slabs, your no-claim bonus, and what you would pay yourself on a repair claim without zero depreciation.
IDV is the ex-showroom price less a fixed share for the vehicle's age: 5% up to six months, 15% up to a year, then 20%, 30%, 40% and 50% at five years. An ₹8 lakh car that is 2½ years old has an IDV of ₹5,60,000. IDV is what the insurer pays if the car is stolen or written off; it is not the car's resale price.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- IDV (insured declared value)
- The most a motor policy pays in a year if the vehicle is stolen or damaged beyond repair: today's ex-showroom price less 5% to 50% for the vehicle's age. It is not the resale price.
- Ex-showroom price
- The price of a new vehicle before registration, road tax and insurance are added. IDV starts from today's ex-showroom price of your model.
- Total loss
- When a vehicle is stolen, or repairing it would cost more than 75% of its IDV. The insurer then pays the IDV.
- No claim bonus (NCB)
- A discount on the own-damage premium for each year in a row with no claim: 20%, then 25%, 35%, 45% and 50%. One claim brings it back to zero.
- Own-damage premium
- The part of a motor premium that pays for damage to your own vehicle. The other part, third-party cover, pays for harm you cause to others and is required by law.
- Zero depreciation
- A motor add-on that pays the full cost of replaced parts. Without it, the insurer deducts a share for wear, such as 50% on plastic and rubber parts.
- Deductible
- The first part of each claim that you pay yourself. Your motor policy schedule states it.
IDV stands for insured declared value. In car and bike insurance, it is the most your insurer will pay for your vehicle in a policy year, and you get it if the vehicle is stolen or damaged beyond repair. It is fixed when the policy starts, from the vehicle's current ex-showroom price and its age. A higher IDV means a higher premium, and a lower one means a smaller payout.
The same rules apply at every insurer for vehicles up to five years old, because they come from the standard motor policy wording. The calculator also shows your no-claim bonus and how much of a repair bill you would pay yourself.
IDV by the vehicle's age
| Age of the vehicle | Depreciation | IDV of a ₹10 lakh car |
|---|---|---|
| Up to 6 months | 5% | ₹9,50,000 |
| 6 months to 1 year | 15% | ₹8,50,000 |
| 1 to 2 years | 20% | ₹8,00,000 |
| 2 to 3 years | 30% | ₹7,00,000 |
| 3 to 4 years | 40% | ₹6,00,000 |
| 4 to 5 years | 50% | ₹5,00,000 |
| Over 5 years | agreed with the insurer | — |
The price used is the manufacturer's current listed selling price for your model, not what you paid. Accessories fitted later that are not in that price are added and depreciated the same way. Registration and insurance costs are not included. For vehicles over five years old, or models no longer made, the insurer and you agree the IDV. Insurers differ here: SBI General, for one, publishes 55% at five to six years, rising to 80% beyond ten.
The insurer may let you move the IDV up or down a little. A lower IDV cuts the premium but also the payout on theft or a write-off.
No claim bonus (NCB)
| Claim-free years in a row | Discount on the own-damage premium |
|---|---|
| 1 | 20% |
| 2 | 25% |
| 3 | 35% |
| 4 | 45% |
| 5 or more | 50% |
The discount applies to the own-damage part of the premium only, not the third-party part. Make one claim and it falls to nothing at the next renewal. So a small claim can cost you more in lost bonus than the insurer pays. The calculator works this out.
What you pay on a claim without zero depreciation
When parts are replaced, the insurer deducts depreciation from their cost. Rubber, nylon and plastic parts, tyres, tubes, batteries and airbags lose 50%, and fibreglass loses 30%. Glass loses nothing. Metal and other parts lose nothing in the first six months, then 5%, 10%, 15%, 25% and 35% up to five years, 40% up to ten and 50% after that. On paint, half the material cost is deducted, and the material is taken as a quarter of the painting bill. Labour is paid in full. You also pay the deductible stated in your policy schedule.
A 2½-year-old car with ₹40,000 of metal parts, ₹15,000 of plastic parts, ₹8,000 of glass, a ₹12,000 painting bill and ₹6,000 of labour, with a ₹1,000 deductible, leaves you paying ₹16,000 of the ₹81,000 bill. A zero-depreciation add-on removes the depreciation part.
Source
The standard Private Car Package Policy wording, from the India Motor Tariff (General Regulations 8 and 27), which insurers still file with IRDAI. Checked on 12 Nov 2026 in ICICI Lombard's filed policy wording and the IDV notes of IFFCO Tokio and SBI General. Two-wheeler policies use the same slabs.
Key takeaways
- IDV = today's ex-showroom price less 5% to 50% for age, up to five years.
- NCB cuts the own-damage premium by 20% to 50%, and one claim resets it.
- Without zero dep, you pay 50% of plastic and rubber parts and part of metal and paint.
Frequently asked questions
What is the full form of IDV?
IDV stands for insured declared value. It is the sum insured of a car or bike insurance policy: the most the insurer pays in that policy year if the vehicle is stolen or written off.
What is IDV in insurance?
In motor insurance, IDV is the vehicle's insured value, fixed when the policy starts: today's ex-showroom price of the model less 5% to 50% for the vehicle's age. A higher IDV means a higher premium and a bigger payout on theft or total loss.
What is IDV in bike insurance?
The same as for a car: the bike's current ex-showroom price, plus any accessories not in it, less 5% (up to 6 months), 15% (up to a year), 20%, 30%, 40% or 50% (4 to 5 years). It is what the insurer pays if the bike is stolen or damaged beyond repair.
How is IDV calculated?
IDV = the manufacturer's current listed selling price of your model, plus accessories not included in it, less depreciation for the vehicle's age: 5% up to 6 months, 15% up to 1 year, 20% up to 2, 30% up to 3, 40% up to 4 and 50% up to 5 years. Beyond 5 years it is agreed with the insurer.
Is IDV the resale value of my car?
No. IDV is the most the insurer pays if the vehicle is stolen or written off. The price you would get selling it depends on the market for that model, its condition and the kilometres driven.
Should I choose a higher or lower IDV?
Keep it close to the standard figure. A lower IDV saves a little premium but pays less if the vehicle is stolen or written off. A higher one costs more and must still be agreed by the insurer.
How much is NCB in car insurance?
20% off the own-damage premium after one claim-free year, 25% after two, 35% after three, 45% after four and 50% after five or more. One claim resets it to zero at the next renewal.
Is zero depreciation cover worth it?
For a new car, usually yes: without it you pay 50% of plastic and rubber parts and a share of metal parts and paint on every claim. Use the claim calculator on this page with a typical repair bill to see the amount.
What is the GIC IDV calculator?
The General Insurance Council, the insurers' industry body, runs an IDV site (idv.gicouncil.in) where you pick the vehicle type, state, year and model to look up its IDV. This calculator uses the same depreciation slabs, and adds your no-claim bonus and what you would pay yourself on a repair claim.
When is a car a total loss?
When the cost of retrieving and repairing it would be more than 75% of its IDV. The insurer then pays the IDV.