Motor Insurance IDV Calculator

Work out motor insurance idv instantly with clear inputs, formula shown and shareable results.

About Motor Insurance IDV Calculator

IDV is the vehicle's current market value for insurance purposes: ex-showroom price less a prescribed depreciation percentage for age, plus separately depreciated accessories. It is the maximum payable on total loss or theft, and it also drives the own-damage premium.

Formulas

Depreciation scale

5% under 6 months, 15% to 1 year, 20% to 2 years, 30% to 3, 40% to 4, 50% to 5, then 5% a year

IDV

IDV = (Ex-showroom x (1 - Depreciation) + Accessories x (1 - Depreciation)) x (1 + Condition adjustment %)

Worked example

With the default values below, Motor Insurance IDV Calculator returns Insured declared value (IDV) of $709,650.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Ex-showroom price: 1,200,000
Age of the vehicle: 3
Value of fitted accessories: 45,000
Adjustment for condition and mileageaccepts -20–10: -5

Results

Insured declared value (IDV): $709,650.00
Depreciation applied: 40.00%
Vehicle component of IDV: $720,000.00
Accessories component of IDV: $27,000.00

Step by step

1Values used
2Depreciation scale
3IDV
4Insured declared value (IDV)= 709,650.00
5Depreciation applied= 40.00
6Vehicle component of IDV= 720,000.00
7Accessories component of IDV= 27,000.00

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.

Frequently Asked Questions

Should I declare a lower IDV to save premium?

No. A lower IDV reduces the total-loss payout by more than it saves in premium, and it is the settlement ceiling if the vehicle is stolen.

What happens after five years?

Depreciation is usually agreed between insurer and owner based on condition, so the scale becomes indicative rather than prescribed.