Glossary
IDV (Insured Declared Value)
The maximum your insurer pays if your car is stolen or written off.
IDV is the current market value of your car as set in the policy. It caps a theft or total-loss payout and drives your own-damage premium. Setting it too low to cut premium leaves you short on a big claim.
Related guides
More glossary terms
DeductibleCo-payment (Co-pay)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)Sum Insured
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