FAQs

Non Life Insurance

11 Jan 2019

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IDV (insured declared value) refers to the maximum amount that can be paid to a policyholder when they make an insurance claim for a car that is stolen or totally damaged. The IDV is the sum insured, wherein the amount is fixed when the policy period for the insured vehicle commences. It is based on the listed selling price of a particular model and brand by the manufacturer and includes local duties/taxes. The IDV amount excludes insurance and registration. 

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