IDV Calculator 2026

Know your vehicle's Insured Declared Value instantly — based on official IRDAI 2025 rates.

💡 What is IDV?

IDV (Insured Declared Value) is the maximum amount your insurer pays if your vehicle is stolen or totally damaged. It is your vehicle's current market value — not what you originally paid. It reduces each year due to depreciation. Higher IDV = better protection, slightly higher premium.

1
Pick vehicleCar or bike + fuel type
2
Enter priceEx-showroom price
3
Set ageHow old is your vehicle
4
Get IDVResult + chart instantly
🔧 Enter Vehicle Details
Vehicle Type
Fuel Type
Vehicle Age
?
Age of your vehicle determines which IRDAI depreciation % is applied to calculate IDV.
Ex-Showroom Price (₹)
?
Manufacturer's listed price before road tax & registration. Check your invoice or RC book.
₹
Accessories Value (₹)
?
Non-factory add-ons like CNG kit, alloy wheels, music system. Toggle on to add.
₹
📊 Your IDV Result
🛡️

Enter vehicle details and
click Calculate IDV to see your result.

Your Insured Declared Value
₹0
As per IRDAI 2025
Showroom Price
—
Depreciation Applied
—
Value Lost
—
Accessories Added
—
ℹ️ Insurers may offer IDV within ±15% of this value. You can negotiate.
📉 IDV Across Vehicle Age

Your current age band is highlighted in blue.

📋 IRDAI Depreciation Table
Vehicle AgeDepreciationRemaining

Frequently Asked Questions

What happens if I set a lower IDV to save on premium? ▼
You get a smaller payout at claim time. If your real IDV is ₹8 lakh but you insure for ₹6 lakh, you only receive ₹6 lakh — losing ₹2 lakh. Short-term saving leads to long-term financial risk.
Can I negotiate IDV with my insurer? ▼
Yes! IRDAI allows insurers to offer IDV within ±15% of the calculated value. You can negotiate a higher IDV (slightly higher premium) for better protection, especially for newer or premium vehicles.
Does IDV include road tax and registration? ▼
No. IDV is based only on ex-showroom price. Road tax, registration fees, and insurance costs are excluded — that's why your IDV is always lower than the on-road price you paid.
How is IDV calculated for vehicles older than 5 years? ▼
IRDAI has no fixed rate for vehicles older than 5 years. IDV is mutually agreed between you and the insurer based on condition and market value. This calculator uses 50% depreciation as a standard estimate.
Is IDV the same as resale value? ▼
Not exactly. IDV uses standard IRDAI depreciation tables. Actual resale depends on demand, condition, brand popularity, and location. IDV is a good approximation but may differ from dealer quotes.
🛡️ Complete Guide

IDV Calculator — The Number That Decides How Much You Get When Everything Goes Wrong

My colleague Suresh bought a Hyundai Creta for ₹13.5 lakhs on-road in 2021. He was a careful guy — renewed his comprehensive insurance every year without fail. In early 2024, his car was stolen from a parking lot in Chennai. He filed the claim expecting a substantial payout. The insurance company settled for ₹7.2 lakhs. Suresh was devastated. He had been dutifully renewing insurance for 3 years, but had never checked his IDV — the Insured Declared Value — which had been dropping silently every year due to depreciation. Worse, his agent had suggested keeping IDV low each renewal to save ₹600–₹800 on annual premium. That ₹600/year "saving" cost him ₹6.3 lakhs at claim time.

IDV is the single most important number on your vehicle insurance policy — yet most vehicle owners have never looked it up. This calculator shows you your car or bike's exact IDV based on official IRDAI 2025 depreciation rates, the full depreciation table year by year, and a chart of how your IDV will change over your vehicle's lifetime. Use it before every insurance renewal — it takes 30 seconds and could save you lakhs.

📖 What Is IDV?

What Is IDV (Insured Declared Value) — In Plain English

IDV — Insured Declared Value — is the maximum amount your insurance company will pay you if your vehicle is stolen or suffers a total loss (where repair cost exceeds 75% of IDV). It represents your vehicle's current market value after accounting for age-based depreciation from the original ex-showroom price.

Three things IDV is NOT: it is not your on-road purchase price (which includes road tax, registration, and insurance costs that are excluded from IDV). It is not a fixed number — it changes every year as your vehicle ages. And it is not automatically set at the right level — insurers often suggest a lower IDV to attract you with a cheaper premium, which is a financial trap.

💡
IDV vs On-Road Price — the gap explained: If you paid ₹12 lakhs on-road for a car with a ₹10 lakh ex-showroom price, your IDV at purchase is approximately ₹9.5 lakhs (5% depreciation for new vehicles). By year 3, it's around ₹7 lakhs. By year 5, around ₹5 lakhs. The on-road price you paid — ₹12 lakhs — is irrelevant to your insurance payout. IDV is always calculated from ex-showroom price only.
🛠️ How To Use

How to Use This IDV Calculator — Step by Step

Four inputs. Result in under 30 seconds. Here's what each field means:

1
Select Vehicle Type — Car or Bike

Choose Car or Bike using the toggle at the top. The IRDAI depreciation table applies equally to both passenger vehicles and two-wheelers using the same standard rates, so this selection primarily helps context the result. Fuel type matters separately — EVs use a different (more favourable) depreciation schedule.

2
Select Fuel Type

Petrol, Diesel, Electric (EV), or CNG/LPG. Electric vehicles use a separate IRDAI-approved depreciation table with lower rates — EVs depreciate more slowly in IDV terms because IRDAI recognises their higher replacement cost. This means EV owners get better insurance coverage relative to age compared to petrol/diesel vehicles.

3
Set Vehicle Age

Choose the age band your vehicle falls in — from "Less than 6 months" to "More than 5 years." Your vehicle age is counted from the registration date in your RC (Registration Certificate), not from your purchase date. For a vehicle registered in January 2022, the age as of January 2025 is exactly 3 years — placing it in the "2–3 years" band with 30% depreciation.

4
Enter Ex-Showroom Price

The manufacturer's listed price before road tax, registration, insurance, and accessories — available on the manufacturer's website or your original invoice. If you've lost the invoice, search "[Your Car Model] ex-showroom price [City] [Year of purchase]" online. Use the purchase year's price, not today's price, as showroom prices change over time but your IDV is based on your vehicle's original ex-showroom value.

5
Add Accessories Value (Optional)

Toggle on to include the value of non-factory accessories — CNG/LPG kits, alloy wheels, aftermarket music systems, sunroofs added post-purchase, or custom modifications. These are NOT covered under standard IDV and must be declared separately. Their depreciation is calculated at the same rate as the vehicle. Always insure expensive accessories separately to ensure they're covered at claim time.

📐 The Formula

The IDV Formula — How IRDAI Calculates Your Vehicle's Value

Standard IDV Formula (IRDAI)
IDV = (Ex-Showroom Price − Depreciation) + Accessories Value
Ex-Showroom Price = Manufacturer's listed price before on-road costs
Depreciation = Ex-Showroom Price × Depreciation % (per IRDAI table)
Accessories Value = Separately declared non-factory add-ons (after their own depreciation)
Example = ₹10L price, 3 years old (30% dep): IDV = ₹10L − ₹3L = ₹7 lakhs

IRDAI Standard Depreciation Rates (Petrol/Diesel vehicles):

Vehicle Age Depreciation % IDV Remaining ₹10L Example IDV
Less than 6 months5%95%₹9,50,000
6 months – 1 year15%85%₹8,50,000
1 – 2 years20%80%₹8,00,000
2 – 3 years30%70%₹7,00,000
3 – 4 years40%60%₹6,00,000
4 – 5 years50%50%₹5,00,000
More than 5 yearsBy mutual agreement~50%≈ ₹5,00,000
⚡ EV Depreciation Rates (Lower)

IRDAI gives EVs a more favourable depreciation schedule — recognising their higher replacement value. <6 months: 5%  ·  6mo–1yr: 10%  ·  1–2 yrs: 15%  ·  2–3 yrs: 20%  ·  3–4 yrs: 30%  ·  4–5 yrs: 40%  ·  >5 yrs: 45%.

💡 The ±15% Negotiation Window

IRDAI allows insurers to offer IDV within ±15% of the calculated standard IDV. You can negotiate a higher IDV (within 15%) for slightly higher premium — or a lower IDV for cheaper premium (not recommended). For new or expensive vehicles, always push for the higher end of this range.

🌍 Real Scenarios

IDV in Real Life — 4 Scenarios That Show Why This Number Matters

🚗
Total Loss After Accident — Maruti Swift Owner, Bengaluru

Rahul bought a Maruti Swift for ₹7.8 lakhs ex-showroom in 2021. In early 2024 (3 years old), his car was hit by a truck and declared a total loss by the surveyor. He expected a payout close to his purchase price. The reality: IDV at 30% depreciation = ₹7.8L × 0.70 = ₹5,46,000. His agent had also suggested lowering IDV to ₹4.8 lakhs at the last renewal to save ₹1,100 on premium. He had agreed. Final payout: ₹4,80,000. The premium saving over 3 years: ₹3,300. The loss from lower IDV: ₹66,000. This calculator would have shown him in 30 seconds what the correct IDV should have been — and the cost of underinsuring.

🏍️
Bike Stolen After 2 Years — Royal Enfield Owner, Pune

Priya bought a Royal Enfield Classic 350 for ₹1,95,000 ex-showroom in July 2022. In August 2024 (2 years old), it was stolen from outside her office. She had aftermarket alloy wheels worth ₹12,000 but had never declared them as accessories in her policy. Claim settlement: ₹1,95,000 × (1 − 0.20) = ₹1,56,000. The alloys were not covered because they weren't declared. This calculator's accessories field — and the clear explanation that non-factory add-ons must be separately declared — would have prompted her to add that field during renewal, protecting her ₹12,000 investment.

⚡
EV Owner Gets Better Coverage — Tata Nexon EV, Hyderabad

Karthik bought a Tata Nexon EV for ₹16 lakhs ex-showroom in 2022. When comparing his IDV after 2 years against his petrol-car-owning friend who bought a similarly priced car the same year, he discovered a key advantage: his EV IDV at 2 years is ₹16L × 0.85 = ₹13.6 lakhs (15% EV depreciation), while his friend's petrol car IDV is ₹16L × 0.80 = ₹12.8 lakhs (20% standard depreciation). Over 5 years, the EV depreciation advantage compounds — Karthik's coverage stays higher at every age band. This is one of the less-discussed financial advantages of EV ownership in India.

📋
Smart Renewal Negotiation — Honda City Owner, Chennai

Anita's Honda City (₹12.5 lakhs ex-showroom) was 4 years old at renewal. The online aggregator quoted a premium based on IDV of ₹6.5 lakhs. She ran the IDV calculator: standard IDV at 40% depreciation = ₹12.5L × 0.60 = ₹7,50,000. The insurer was offering only ₹6,50,000 — ₹1 lakh below the correct IRDAI-calculated IDV, saving the insurer money at her expense. She called back, quoted the IRDAI rate, and requested the correct ₹7.5 lakh IDV. The insurer adjusted it. The premium difference was ₹780/year. She paid ₹780 more and insured for ₹1 lakh more coverage — one of the best financial decisions of that renewal season.

⚠️ Smart IDV Tips

8 Things Every Vehicle Owner Must Know About IDV

❌
Never Lower IDV Just to Save on Premium

The premium saving from reducing IDV is usually ₹300–₹1,500 per year. The loss at claim time can be ₹50,000–₹5,00,000+. This is statistically the worst risk-reward trade-off in personal finance. Always insure at or above the IRDAI-calculated IDV. The extra premium is the cheapest insurance you can buy against under-coverage.

📋
Declare All Accessories Separately

CNG/LPG kits, aftermarket alloy wheels, premium music systems, sunroofs, and custom modifications are NOT covered under standard IDV unless explicitly declared in the policy. Each must be listed with its value. Their depreciation is calculated at the same rate as the vehicle. Forgetting to declare a ₹30,000 CNG kit means zero coverage for it at claim time.

🔄
Check IDV Every Renewal Without Fail

IDV changes every year and insurance companies don't always calculate it correctly. Some use last year's IDV as the base and apply further depreciation — which compounds downward faster than IRDAI intended. Run this calculator before every renewal to verify the IDV your insurer is offering matches the official IRDAI rate for your vehicle's current age.

📊
Compare IDV Across Insurers, Not Just Premium

When renewing online through aggregators, always filter and compare IDV alongside premium. Two policies priced similarly may have very different IDVs — one at ₹6.5 lakhs, another at ₹7.2 lakhs for the same vehicle. The ₹700 premium difference buys you ₹70,000 more coverage. IDV comparison is as important as premium comparison — often more so.

🚗
For Vehicles Over 5 Years — Negotiate Aggressively

IRDAI has no fixed rate for vehicles older than 5 years — IDV is "mutually agreed" between insurer and policyholder. This is where most owners get shortchanged. Do your homework: check current market resale prices for your exact model and year on OLX or CarDekho, and use that as the floor for negotiation. Insurers often start low — you have the right to counter with market evidence.

🔧
Understand Total Loss vs Partial Loss

IDV matters most in total loss situations (theft or damage where repair cost > 75% of IDV). For partial damage, your actual repair cost is paid (minus depreciation on parts). This is why IDV setting is critical — a low IDV in a total loss scenario means the entire shortfall comes from your pocket. Higher IDV directly reduces your personal financial exposure in worst-case scenarios.

💡
Consider a Return to Invoice (RTI) Add-on for New Cars

For vehicles less than 3 years old, consider adding a Return to Invoice (RTI) rider to your comprehensive policy. This covers the gap between IDV and your original on-road invoice price in case of theft or total loss. On a ₹15 lakh on-road car with ₹12 lakh IDV, RTI covers the ₹3 lakh gap. The add-on typically costs ₹1,500–₹3,000/year — excellent value for expensive new vehicles.

📱
Use IDV to Decide When to Drop Comprehensive Insurance

When your IDV drops very low — typically below ₹1–1.5 lakhs — the comprehensive insurance premium may no longer justify the coverage it provides. At that point, some vehicle owners switch to third-party only insurance (mandatory by law) and self-insure for own damage. Use this calculator to track your IDV over time and make this decision with actual numbers, not guesswork.

❓ FAQ

Frequently Asked Questions About IDV

IDV uses IRDAI's standardised depreciation table applied to the ex-showroom price — it's a formula-based calculation that doesn't consider actual market conditions, brand demand, or vehicle condition. Market value (resale value) is what a buyer would actually pay for your vehicle today — influenced by popularity of the model, service history, condition, colour, and local demand. For popular models like Maruti cars that hold value well, actual resale may exceed IDV. For models with poor resale (many European or American brands), actual resale may be below IDV. For insurance purposes, IRDAI's IDV formula is the legal standard — but for vehicles over 5 years where IDV is "mutually agreed," you can use actual market value as a reference for negotiation.

IRDAI's depreciation table uses age bands (less than 6 months, 6 months to 1 year, 1–2 years, etc.) measured from the vehicle's registration date. A car registered in October 2022 renewing insurance in January 2025 is 2 years and 3 months old — it falls in the "2–3 years" band at 30% depreciation. The calculator uses the registration date band, not a precise month-by-month depreciation. In practice, insurers use the same band approach — so you won't get a different rate for being 2 years and 1 month versus 2 years and 11 months old.

The premium impact of increasing IDV is smaller than most people expect. Insurance premium for own damage (OD) is typically 0.8–1.5% of IDV for a standard comprehensive policy. Increasing IDV by ₹1 lakh therefore increases the OD premium by approximately ₹800–₹1,500 annually. On a ₹8 lakh IDV policy, going to ₹8.5 lakhs (maximum ±15% negotiation) adds ₹400–₹750 to premium while increasing your maximum payout by ₹50,000. This is almost always worth paying. The third-party premium component is fixed by IRDAI regardless of IDV, so only the OD component is affected.

When a vehicle is sold and ownership transferred, the existing insurance policy is transferred along with the vehicle. The IDV remains the same as in the original policy until the next renewal. At the next renewal, the new owner should recalculate the correct IDV based on the vehicle's age from the original registration date (not the date of ownership transfer). Some new owners mistakenly reset the age calculation from their purchase date — this is incorrect. The vehicle's age for IDV purposes always starts from the first registration date in the RC book, regardless of how many times it has changed hands.

Commercial vehicles (trucks, buses, goods carriers) follow a different IRDAI depreciation schedule from private passenger vehicles. Taxis and cab vehicles registered as commercial use also fall under a different rate structure — typically with faster depreciation to reflect higher usage and wear. This calculator covers private passenger vehicles (cars) and two-wheelers under standard IRDAI depreciation rates. If you own a commercial vehicle, auto-rickshaw, or taxi registered for hire, consult your insurer directly for the applicable commercial vehicle IDV rates, as they differ significantly from the standard rates shown here.

⚠️ Disclaimer: This tool is for informational purposes only. IDV values are estimates based on IRDAI standard depreciation guidelines. Actual IDV may vary by insurer. Always verify with your insurance provider before purchasing a policy.

Calculating your IDV...