Become Aware of the Intricacies of Car Insurance IDV
Every car, as per the make, model and variant associated with the vehicle, has a particular market value. This market value is defined by the IDV of the car, which is essentially the Insured Declared Value. As per the standard definition of the term, the IDV is the listed price as defined by the manufacturer of the vehicle, without the inclusion of the depreciation amount. If you are a Car Insurance Policy Holder and are privy to theft or large scale damage to your car, the insurer is entitled to provide you with the IDV of your car in the form of compensation. Hence, this is an important number to consider when buying or claiming an insurance policy.