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    Question

    The premium of insurance of your two-wheeler depends on its IDV. What does IDV denotes?

    A Insured Demand Value Correct Answer Incorrect Answer
    B Insured Declared Value Correct Answer Incorrect Answer
    C Insured Depreciated Value Correct Answer Incorrect Answer
    D Insured Devised Value Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The premium of insurance of your two-wheeler depends on its Insured Declared Value (IDV). The IDV depends on the ex-showroom price of your vehicle, its depreciation, its cubic capacity (in case of third-party insurance), and zone of the registration.

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