What is IDV In Vehicle Insurance Policy?
IDV, or Insured Declared Value, is the maximum amount that an insurance company will pay to the policyholder in case of theft or total loss of the insured vehicle. It is the current market value of the vehicle after deducting the depreciation value. IDV is an important factor in determining the premium amount of a vehicle insurance policy. The higher the IDV, the higher will be the premium amount, and vice versa. It is crucial for policyholders to correctly declare the IDV of their vehicle while purchasing the insurance policy to ensure that they receive adequate compensation in case of an unfortunate event.
How to Check Vehicle Insurance Policy Status?
The most important thing you need to do when you are buying a car is to check the vehicle insurance policy status. This is because, without
insurance, your car will be taken away from you and you will have to pay for
the damages. If your vehicle doesn't have an insurance policy, it's illegal for
you to drive it on public roads.
When you are driving your car, it is important to know if your insurance is
valid or not. You can check the status of your policy by calling the insurance
company or checking online. It is important to check your vehicle insurance
policy status periodically. It can help you get a better offer from the
insurance company and a lower premium rate too.
How Much is the Insurance Amount of Car in Tamil Nadu?
The insurance amount for a car in Tamil Nadu varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,200* to 8000*, depending on individual circumstances and coverage choices.
How Much is the Insurance Amount of Car in Karnataka?
The insurance amount for a car in Karnataka varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs 3,000* to 9000*, depending on individual circumstances and coverage choices.
How Much is the Insurance Amount of Car in Telangana?
The insurance amount for a car in Telangana, like in other Indian states, varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,400* to 5,500*, depending on individual circumstances and coverage choices.
How Much is the Insurance Amount of Car in Maharashtra?
The insurance amount for a car in Maharashtra, like in other Indian states, varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,500* to 8000*, depending on individual circumstances and coverage choices.
How Much is the Insurance Amount of Car in Kerala?
The insurance amount for a car in Kerala, like in other Indian states, varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,000* to 5000*, depending on individual circumstances and coverage choices.