The Significance of Validating the IDV for Your Vehicle: Are You on Track? | Indiablooms - First Portal on Digital News Management
IDV stands for Insured Declared Value. It is the maximum sum assured by an insurance company in case of a total loss or theft of a vehicle. It represents the current market value of the insured car. In car insurance, the IDV plays a crucial role in determining the premium amount and the claim settlement.
Source: indiablooms.com