What is idv insurance?

Idv insurance stands for insured declared value and it is the sum assured set by the insurance company. It is offered in the condition of theft and the loss of your cars or vehicles means it covers the loss of your damaged things. Idv refers to current finance value or the vehicle which covers up the damage occurring in your vehicle. When you buy a car and take it outside the showroom it starts to go down because idv value is calculated by the selling price minus depreciation.
The idv value of your car is decreasing every year with the increasing lifespan of the car. This idv insurance is related to car insurance and you can calculate the idv value by the idv calculator very easily. So like this the insurance can help you cover up various things in your life. That is why insurance of everything should be necessary.