IDV in Car Insurances stands for Insured Declared Value. It refers to the declared value of your vehicle and is essentially how much you can claim on your insurance policy following an accident.
When you’re looking for car insurance, you might come across the abbreviation ‘IDV’ You’ll probably be told in your quote that it doesn’t affect the cost of your insurance but not many people know what it actually is.
The amount of the premium is based on the insured declared value of the vehicle and your mileage.” Choosing a car is an important decision for anyone. While it may seem challenging and intimidating to find a car at first, it’s actually quite easy when you know where to look.
Car Insurance Cheaper specializes in cheap car insurance and to be a good number of savings to our customers. However, It’s not always the case that we provide you with the lowest price.
We know that this makes things complicated for you. For this reason, we implemented an identifier for the best offer for each customer. The identifier is named IDV and stands for Identification Variable.
What Determines The Insured Declared Value Of A Vehicle?
To determine the insured declared value of a vehicle you should look at the current market value of your vehicle.
What Is Insured Declared Value (Idv) In Motor Insurance?
Motoring – Finance – Finance The term insured declared value (IDV) is used to describe the total amount the insurance company will pay in the case of a car being written off.