What is Zero Depreciation Car Insurance Cover? This cover i...
The value of the cover provided in car insurance is called the IDV (Insured Declared Value). It is the market value of your car (as per the insurance company).
|Vehicle Age||% of Depreciation|
|Not exceeding 6 months||5%|
|Exceeding 6 months but not exceeding 1 year||15%|
|Exceeding 1 year but not exceeding 2 years||20%|
|Exceeding 2 years but not exceeding 3 years||30%|
|Exceeding 3 years but not exceeding 4 years||40%|
|Exceeding 4 years but not exceeding 5 years||50%|