India Car & Bike IDV and Insurance Calculator

About the India Car & Bike IDV and Insurance Calculator

Choose the insurer’s agreed/policy IDV or an explicitly selected depreciation schedule from the cited customer information sheets. Quotes are optional: calculate the selected value without one, add one complete quote for its premium components, or compare two quotes by own damage, No Claim Bonus, third-party cover, add-ons and deductibles. An entered loss assessment shows the cited constructive-total-loss boundary and arithmetic after applicable deductions. The free preview shows the selected-basis IDV and first rows; a Pro pass opens the complete details, working and exports.

The selected schedule is a comparison basis. IRDAI requires each insurer to approve and publish its own IDV criteria and include the basis in its customer information sheet. A discontinued model or vehicle beyond five years uses an agreed/policy value rather than an invented extension of the schedule.

IDV follows the selected policy basis

Under the cited car CIS and two-wheeler CIS, the illustrated schedule takes 5% off up to six months, 15% through one year, 20% through two, 30% through three, 40% through four and 50% through five. Exact calendar anniversaries decide the bands. Beyond five years and for discontinued models, the value is agreed with the insurer. The IRDAI master circular requires insurer-approved published criteria and a CIS illustration, so this schedule is selected rather than asserted as every product’s compulsory basis.

NCB and premiums are distinct

The India Motor Tariff general regulations give a years-only reference of 20%, 25%, 35%, 45% and 50% after one through five consecutive full claim-free policy years on the own-damage premium. This table does not decide renewal, ownership, transfer, retention or protection eligibility; some retained older bonuses can exceed it. A made or pending claim resets the automatic reference. An actual insurer-confirmed bonus can be entered instead, and quote arithmetic uses the percentage actually quoted. A difference from the selected basis is a reason to ask the insurer for its explanation.

Published third-party base tables

The base-premium rules%20Rules,%202022.pdf) contain annual private-car/two-wheeler engine-capacity tables, electric-motor kW tables, and separate new-vehicle three-year/five-year single-premium tables. The calculator chooses those exact upper-inclusive bands. Their base figures exclude entered tax, personal accident and additional covers. They are published references, not a live insurer quote or a claim that no later amendment can apply.

Loss and quote formulas

Vehicle IDV under the selected schedule = listed selling price × (1 − age-band depreciation). Add separately agreed insured accessories. Own damage after NCB = entered pre-NCB own damage × (1 − quoted NCB). Add entered third party and other covers, then apply the entered tax. The cited constructive-total-loss test is repair/retrieval cost strictly exceeding 75% of IDV. Illustrative total-loss arithmetic subtracts the applicable deductible and retained-wreck value; policy eligibility and assessment still govern payment.

Limitations

• Hybrid, commercial, specially classified and unsupported capacity/term cases need actual insurer figures.
• Published third-party bases are references; confirm the applicable notification, term and complete quote.
• The selected IDV and NCB basis can differ from an insurer’s filed product or protection terms.
• A history-only NCB reference does not verify renewal gaps, ownership, transfer or retained-bonus eligibility. Use the insurer’s confirmed percentage where those conditions matter.
• The calculator neither fetches insurer offers nor ranks insurers, establishes claim eligibility or guarantees payment.

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