What does IDV mean?
What does IDV mean?
Insured Declared ValueWhat is Insured Declared Value (IDV)? The term ‘IDV’ refers to the maximum claim your insurer will pay if your vehicle is damaged beyond repair or is stolen. Suppose the market value of your car is Rs. 8 lakh when you buy the policy. That means the insurer will disburse a maximum amount of Rs. Jun 23, 2020
Is it mandatory to have third party insurance?
Yes, third party motor insurance is mandatory for two-wheelers and four-wheelers in the country. This mandate has been set by The Motor Vehicles Act, 1988.
Who is liable when a tree falls on a neighbor’s property?
When a tree falls over onto a neighbor’s property, that neighbor should submit a claim to his or her insurance company immediately. The insurance company is usually responsible for taking care of the damages. This is true if the tree fell over due to an act of nature.
Can I claim insurance if I damage my own car?
Under the comprehensive car insurance plan, a policyholder can claim insurance in case of third-party liability as well as damage caused to the insured car due to an accident. The policyholder must inform his/her insurer and submit the necessary documents to proceed with the own-damage car insurance claim process. Jul 13, 2021
When shopping for a vehicle you should?
when shopping for a vehicle, you should: Investigate the market, consider a previously owned model, and consider a certified used car.
