Motor Insurance IDV Explained
Understand your car or bike insurance's Insured Declared Value (IDV) and how it affects your claim amount.
Reviewed by the PDF Pro AI team · Last updated August 2026
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Frequently Asked Questions
Can I set my own IDV?
Within limits — insurers typically allow you to declare IDV within a specific range around the calculated depreciated value; setting it too low reduces your premium but also your payout.
Does a lower IDV mean a lower premium?
Yes — IDV directly affects your premium since it's the insurer's maximum liability, but declaring it too low leaves you underinsured in a total-loss scenario.
Does IDV cover third-party damage too?
No — IDV applies to your own vehicle's total-loss value; third-party liability coverage is separate and doesn't have an IDV cap.