Question

General Insurance calculation are made on​

Answer 1

Answer:

The deal is - higher the Insurance Declared Value or IDV, higher the premium and vice versa. Thus, as your car grows older, the IDV decreases. The premium for OD cover is calculated as a percentage of IDV as decided by the Indian Motor Tariff.

Answer 2

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The deal is - higher the Insurance Declared Value or IDV, higher the premium and vice versa. Thus, as your car grows older, the IDV decreases. The premium for OD cover is calculated as a percentage of IDV as decided by the Indian Motor Tariff.