Gray-Image
24*7 Claim Notifications

24*7 Claim Notifications

Almost 100% Paperless

Almost 100% Paperless

Best Claim Settlement Awards 2022

Best Claim Settlement Awards 2022

previous
  • Overview
  • Features And Benefits
  • Types of Shriram Car Insurance
  • New Car Insurance
  • Used Car Insurance
  • Bumper to Bumper Car Insurance
  • Own Damage Car Insurance
  • Comprehensive Car Insurance
  • Third-Party Car Insurance
  • Calculate Premium
  • Save On Premium
  • Renewal Benefits
  • IDV
  • NCB
  • Zero Depreciation
  • Deductibles
  • Coverages
  • Compare Plan
  • Premium Components
  • Eligibility and Required Documents
  • Buy / Renew
  • Claim Process
  • Terminologies
  • Policy Download
  • FAQs
next

What is Insured Declared Value (IDV)?

  • The Insured Declared Value (IDV) is an essential aspect of Car Insurance policies in India. It refers to the maximum amount that the insurance company will pay in case of a total loss or theft of the insured car
  • The IDV is determined based on the car's market value, taking into account factors like the car's age, make, model and depreciation
  • It is essential to set the IDV of your car correctly because it determines the maximum amount that you will receive from the insurance company in case of total loss or theft
  • The IDV plays a vital role in determining the premium amount for Car Insurance policies . The higher the IDV, the higher the premium amount and vice versa
  • In case of a total loss or theft of the insured car, the insurance company will pay the IDV as the maximum claim amount
Read More

How to Calculate IDV?

  • The IDV of a vehicle is calculated based on the manufacturer's listed selling price of the vehicle, minus depreciation
  • The depreciation rate for IDV calculation is fixed by the Insurance Regulatory and Development Authority of India (IRDAI) and is based on the age of the vehicle
  • The IDV of a vehicle can be calculated using the formula: IDV = Manufacturer's listed selling price - (Depreciation + Optional accessories, if any)
Read More

Frequently Asked Questions

Why is determining a right IDV important in Car Insurance?

  • The IDV is a crucial factor that determines the claim settlement amount. If the IDV is set too low, the policy holder may not receive adequate compensation in case of a claim, leading to financial loss.
  • On the other hand, if the IDV is set too high, the policy holder may end up paying a higher premium amount

How is the IDV of a vehicle gets calculated?

  • The IDV is calculated based on the manufacturer's listed selling price of the vehicle (including all accessories) minus depreciation based on the age of the vehicle.
  • The IDV of a car decreases as the car ages and it is usually revised downwards during policy renewal

How can I ensure the correct IDV for the car?

  • To ensure the correct IDV for the car, one should take into account the current market value of the vehicle, depreciation based on its age and any accessories that have been added to the car.
  • It is also essential to provide accurate information about the car's make and model to the insurance company

What our customers say ?

4.6

1753+ Customer Ratings

View all
customer

MARCUS MANOHAR PARKHE

Mr. Khalil, your Executive was very coperative. the overall experience was very good. Thank you.

customer

ANIL KUMAR HP

Good

customer

VAISHALI VAIBHAVKUMAR PANDYA

very good

customer

CHAUDHARI JASAVANTKUMAR

Good

customer

AKRAM KHAN

Good

left-arrowright-arrow
Quote

Blogs

what is the difference between toll and road tax

What Is the Difference Between Toll and Road Tax?

Posted on 2025-04-16 12:47:14

How is road tax different from toll tax? It all comes down to their objectives and payment methods. State governments in India levy road taxes at the time of vehicle registration as a one-time or recurring payment to fund road construction and maintenance. Toll charges are only applied while using specific highways, motorways, or bridges to assist in recouping the costs of constructing and operating these roads. Think of it this way: Road taxes work similarly to membership fees, providing access to all state roadways, regardless of whether you use them. Toll tax is a pay-as-you-go service, meaning you only pay when you use a particular road or bridge that needs additional investment. Knowing these taxes enables car owners to control spending and stay out of trouble with the law. Let us examine them in more detail.

EPF to NPS Online Transfer A Complete Guide

How to Transfer Your EPF Balance to NPS Seamlessly

Posted on 2025-04-16 10:09:07

Planning for retirement is one of the most fundamental elements of long-term financial stability. Two of the most favoured retirement savings plans in India are the National Pension System (NPS) and the Employees' Provident Fund (EPF). Considering their special benefits, many people are curious about the possibility of transferring money from EPF to NPS or vice versa. This article discusses the possibility of such a transfer, as well as the tax ramifications and legal procedures involved.

Eco Friendly Driving Reduce Your Cars Carbon Emissions

How Does Eco Friendly Driving Reduce Your Cars Carbon Emissions?

Posted on 2025-04-15 10:14:40

In India, where air pollution is becoming a major problem, following eco-friendly driving tips is not only a choice—it is a need. Transportation is a significant source of carbon emissions, and each automobile on the road contributes in some way. Although converting to alternative fuel cars is the best option, little adjustments to driving practices may still greatly impact fuel consumption and pollution reduction. From boosting fuel economy to properly maintaining your vehicle, this article provides practical strategies to drive more sustainably on Indian roads.

View all

Shriram Car Insurance in Major Cities in India

Delhi

Delhi

Chennai

Chennai

Mumbai

Mumbai

Ahmedabad

Ahmedabad

Gurgaon

Gurgaon

Bangalore

Bangalore

Agra

Agra

Bhopal

Bhopal

Pune

Pune

Indore

Indore

Jaipur

Jaipur

Dehradun

Dehradun

View all
Your Recent Quoteclose
vehicle

Maruthi Wagan R

TN32TY6799

NCB Discount: 25 %

  • Model

    VITARA BREZZA ZDI

  • Policy End Date

    31/12/2024

Benefits Covered

Premium Amount

₹ 1326 +GST

Generate a quick quote

Generate a quick quote in seconds

Get a Quote
24x7 Claim

24x7 Claim
Notifications

Best Claim

Best Claim
Settlement Award

4.2

Customer Rating

16938+ Customer Ratings

Quick renewal Quick renewal
bimabharosa
Back to TopBack to top of the pageBack to top of the page

IRDAI Consumer Education:- Insurance is the subject matter of solicitation. IRDAI Registration Number - 137. CIN No. U66010RJ2006PLC029979. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

Terms and Conditions |Refund and Cancellation© 2023 Shriram General Insurance. All rights reserved.