Motor Insurance IDV Calculator India — Car & Bike IDV 2026

Last updated: 29 April 2026 Reviewed by Arjun Mehta, CA

**IDV (Insured Declared Value)** is the current market value of your vehicle and the maximum amount your motor insurer will pay in case of total loss or theft. IDV is calculated as: Manufacturer's Listed Price × (1 - Depreciation%) based on vehicle age. Depreciation ranges from 5% in the first year to 50% for vehicles older than 5 years.

Vehicle Ex-Showroom Price (₹)

Vehicle Age (Years) 0 = brand new, up to 5 years considered

IDV (Insured Declared Value) —

Depreciation Rate —

Est. Own Damage Premium —

Third Party Premium (Statutory) —

Total Estimated Premium —

View Year-by-Year Breakdown

Real-World Examples — 2026

₹12 lakh car aged 2 years — IDV calculation

IDV at 2 years = ₹12 lakh × (1 − 20%) = ₹9.6 lakh. Own damage premium ≈ 2–3.5% of IDV = ₹19,200–₹33,600. Third party premium (1000–1500cc): ₹4,188/year (IRDAI regulated). Total comprehensive premium: ₹23,000–₹38,000.

5-year-old car — renew or let lapse?

5-year-old car at 50% depreciation: ₹15 lakh car → IDV ₹7.5 lakh. If replacement cost is only ₹8–9 lakh (resale), a ₹7.5 lakh IDV is still worth insuring. Premium: approximately ₹15,000–₹25,000. Always renew comprehensive insurance — third-party is legally mandatory.

Frequently Asked Questions

What is IDV in car insurance?

IDV (Insured Declared Value) is the maximum amount an insurer pays for total loss (write-off or theft) of your vehicle. It's the current market value of the vehicle — ex-showroom price minus depreciation. IDV decreases each year as the car depreciates. Lower IDV = lower premium but less payout in a total loss.

How is IDV calculated in India?

IDV = Ex-showroom price × (1 − Depreciation Rate). Depreciation schedule: <6 months: 5%, 6m–1yr: 15%, 1–2yr: 20%, 2–3yr: 30%, 3–4yr: 40%, 4–5yr: 50%. Above 5 years: IDV is mutually agreed with insurer. IRDAI sets these depreciation rates.

Should I declare a lower IDV to reduce premium?

Reducing IDV reduces premium but directly reduces your claim payout in a total loss. A 10% IDV reduction might save ₹3,000 in annual premium but reduces your claim by ₹1–2 lakh. Always ensure IDV reflects actual market value. Many insurers allow IDV to be adjusted ±20%.

Is this calculator free?

Yes, completely free on CalcPhi.

Are my inputs stored?

No. All calculations run in your browser.

Is it mobile-friendly?

Yes. Works on all modern smartphones.