M.Sc., B. Eng. (Mech) & Minor in Technopreneurship, National University of Singapore Quality Assurance San Diego United States
IDV or Insured Declared Value is the maximum Sum Assured fixed by the insurer that is provided on theft or total loss of two wheeler in the event of an accident. What does IDV in two-wheeler insurance mean and how important is it? IDV full form in. Insurance Declared Value (IDV) is the maximum sum insured, which is provided to you in case of any theft or total loss of your vehicle. Insured Declared Value is the total value of the insured vehicle by the insurer to compensate the policy holder with in case of irreparable damage or total loss due to accident or theft. Insured's Declared Value (IDV) Calculator.