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What is IDV in Bike Insurance English In this article, we will tell you what is idv in bike insurance in Hindi. If you have insured any of your vehicles, then you must have heard the term IDV quite often. When the vehicle is stolen or totally damaged in an accident, you get money based on the IDV of the vehicle. In this article we will tell you in detail about IDV Full Form, its meaning and how IDV is calculated. The full form of IDV is Insured Declared Value. It means declared value of insured (vehicle) What is IDV in Bike Insurance? In car, bike or any of your vehicle insurance, IDV vehicle is the maximum price that you get if your vehicle is in an accident and is totally damaged or stolen. If we put it in simple language then this is the current market price of the vehicle. Whichever company you get your vehicle insured from, that company pays you only on the basis of IDV. The insurance company may also reduce the IDV by 5% to 10% depending on the duration of the vehicle insurance. Why is IDV required? As we told you, if your vehicle is stolen or completely destroyed in an accident, you will want more money in compensation and the insurance company will want to pay you less. This problem is solved with the help of IDV. When you get your bike or car insured, the IDV of the vehicle is determined at the same time. After this, whenever your vehicle is stolen or completely destroyed, the insurance company will pay you the amount written in the IDV. IDV Calculate How to Calculate IDV To determine the IDV of any vehicle the following three things are taken into consideration – What was the price of the vehicle when it was purchased from the showroom? How long has it been since the vehicle was purchased? What is the cost of accessories installed separately in the vehicle? what did you learn In this article you have learned about What is IDV in Bike Insurance. Along with this we also told you how IDV is calculated. If you have any doubt related to IDV then comment we will help you fully.

What is IDV in Bike Insurance English In this article, we will tell you what is idv in bike insurance in Hindi. If you have insured any of your vehicles, then you must have heard the term IDV quite often. When the vehicle is stolen or totally damaged in an accident, you get money based on the IDV of the vehicle. In this article we will tell you in detail about IDV Full Form, its meaning and how IDV is calculated. The full form of IDV is Insured Declared Value. It means declared value of insured (vehicle) What is IDV in Bike Insurance? In car, bike or any of your vehicle insurance, IDV vehicle is the maximum price that you get if your vehicle is in an accident and is totally damaged or stolen. If we put it in simple language then this is the current market price of the vehicle. Whichever company you get your vehicle insured from, that company pays you only on the basis of IDV. The insurance company may also reduce the IDV by 5% to 10% depending on the duration of the vehicle insurance. Why is IDV required? As we told you, if your vehicle is stolen or completely destroyed in an accident, you will want more money in compensation and the insurance company will want to pay you less. This problem is solved with the help of IDV. When you get your bike or car insured, the IDV of the vehicle is determined at the same time. After this, whenever your vehicle is stolen or completely destroyed, the insurance company will pay you the amount written in the IDV. IDV Calculate How to Calculate IDV To determine the IDV of any vehicle the following three things are taken into consideration – What was the price of the vehicle when it was purchased from the showroom? How long has it been since the vehicle was purchased? What is the cost of accessories installed separately in the vehicle? what did you learn In this article you have learned about What is IDV in Bike Insurance. Along with this we also told you how IDV is calculated. If you have any doubt related to IDV then comment we will help you fully.

July 01, 2024

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