What is an IDV?

IDV or the Insured Declared Value refers to the maximum sum assured that is fixed by IFFCO Tokio, which is to be provided to you in case of theft or total loss of your vehicle due to accident. Generally speaking, IDV is the current market value of the vehicle. IDV of a vehicle is fixed every year based on the manufacturer’s listed selling price of the brand and model and the level of depreciation.