In­sured’s De­clared Value (IDV)

Consumer Voice - - Bfsi -

The IDV is an oft-re­peated ab­bre­vi­a­tion in the pol­icy doc­u­ment. In­sured’s de­clared value of the ve­hi­cle is deemed to be the ‘sum in­sured’. It is fixed sep­a­rately for each year of in­surance dur­ing the pol­icy pe­riod as shown in the pol­icy sched­ule.

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