Work out motor insurance idv instantly with clear inputs, formula shown and shareable results.
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.
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 %)
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.
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.
Depreciation is usually agreed between insurer and owner based on condition, so the scale becomes indicative rather than prescribed.