Importance of High IDV While Buying New Car Insurance
Mar 28, 2024
New Delhi [India], March 28: Third-party car and bike insurance is mandatory in India per the Motor Vehicles Act 1988. Whether buying a new car insurance or two-wheeler insurance online, you must be informed about the different terms used during the process. One such term that you should know about while making a motor insurance purchase is IDV or the Insured Declared Value. Wondering what it is? If yes, then continue reading and learn more about IDV, its importance, and the factors affecting it.
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