'What Is IDV In Bike Insurance?

In Bike Insurance?

Insured Declared Value

or IDV is the maximum reimbursement amount you can claim in case of accident

Therefore, it

is important to select the right insurance policy for your bike to sufficiently cover the

Additionally, it

helps your vehicle insurer to decide the market value of your vehicle so that they

You can use

the following formula to calculate the IDV of your two-wheeler:

The depreciation rates

of IDV for two-wheelers usually keep on increasing with their age as follows:

After five years,

your vehicle insurer will decide on the IDV of your bike based on the

However, there

are certain factors that you must be aware of which can significantly affect the IDV

Below are certain

factors that significantly affect your vehicle’s IDV:

With an increase

in the age of your bike, the depreciation rate increases, and so the IDV

IDV varies considerably

depending on whether your bike runs on battery or petrol

अभी-अभी देशवासियों के लिए

बड़ी सूचना आई ,बेहद जरूरी ।