Best Car Insurance Plans

Check Your Car's IDV & Compare Insurance

Tell us your car and get IDV indicative value for insurance — then compare cashless plans from India's top insurers. You can save up to 50%*. Get your free quotes now.

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Car insurance premiums vary by RTO zone, so this changes your quote.

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Your details are confirmed. A motor insurance adviser will call you shortly with quotes for your car at an IDV of —, and will go through the add-ons and the fine print before you decide anything.

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Why the IDV matters: it is not an administrative number. If your car is stolen or written off, the IDV is what the insurer pays you — full stop. Shaving it to cut the premium is the one decision on a motor policy that can cost you lakhs, and you only find out at the worst possible moment.

5 things to check before you renew
1
Don't under-insure to save on premium. A lower IDV does cut the premium — and it cuts your total-loss payout by the same amount. Example: dropping the IDV from ₹6 Lakh to ₹4.5 Lakh might save you around ₹1,200 a year. If the car is stolen, it costs you ₹1.5 Lakh. That is a bad trade every single time.
2
Take zero depreciation while the car is young. Without it the insurer deducts depreciation on every plastic, rubber and metal part replaced. On a modern car with plastic bumpers and panels that routinely means paying a third to half of the repair bill yourself. Most insurers offer it up to around five years old.
3
Protect your No Claim Bonus — and carry it with you. It reaches 50% off the own-damage premium after five claim-free years. It belongs to you, not the car, so it moves to your next vehicle and survives a change of insurer — but only if you ask the old insurer for the NCB retention letter. Let the policy lapse past 90 days and it is gone.
4
Check the cashless garage list near your home — not the national total. "7,000+ garages" means nothing if the authorised workshop you actually use is not one of them. Outside the network you pay the bill and claim it back, with the paperwork and the wait.
5
Know what the voluntary deductible really does. Agreeing to pay the first ₹5,000 or ₹10,000 yourself lowers the premium noticeably — and means a small dent is no longer worth claiming for. Sensible if you have the cash and rarely claim; a trap if you do not.

One more thing: renew before the policy expires. A lapsed policy usually means an inspection before the new one starts, you lose the No Claim Bonus after 90 days, and driving uninsured is an offence under the Motor Vehicles Act — with the car uncovered in the meantime.

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Car Insurance Guide

Car insurance in India: IDV, cover types and what actually changes your premium

Car insurance is compulsory in India — at minimum third-party cover, under the Motor Vehicles Act. But the policy most owners actually need is a comprehensive one, and the number that decides both what it costs and what it pays is the IDV. Most people spend their time comparing premiums and almost none understanding the figure those premiums are calculated on.

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Why it matters

IDV is the ceiling on a theft or total-loss claim. It is the one number on the policy you cannot fix after the event.

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How it is set

Ex-showroom price of your exact variant, less depreciation for age — 5% under six months, rising to 50% at five years.

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When to renew

Before expiry. A lapse means an inspection, and your No Claim Bonus dies after a 90-day gap.

What is IDV, and how is it calculated?

Insured Declared Value is the maximum your insurer pays if the car is stolen or damaged beyond economical repair. It starts from the manufacturer's listed selling price of your exact model and variant — not the on-road price, and not what you paid — and subtracts depreciation for the car's age. IRDAI fixes that depreciation for the first five years:

Age of the carDepreciationIDV as % of ex-showroom
Up to 6 months5%95%
6 months – 1 year15%85%
1 – 2 years20%80%
2 – 3 years30%70%
3 – 4 years40%60%
4 – 5 years50%50%
Over 5 yearsNo fixed rateAgreed between you and the insurer, on condition

Beyond five years there is no prescribed schedule. The calculator above continues the curve at roughly five percentage points a year and stops at 85%, which is about where the used-car market puts a twelve-year-old vehicle — but an insurer may value yours differently after seeing it.

Types of car insurance in India

Third-Party Liability only
CoversInjury or damage you cause to others
Your carNot covered
Best forThe legal minimum; very old cars with little value left
Comprehensive
CoversThird party + own damage, theft, fire, floods
Your carUp to the IDV
Best forAlmost every car still worth repairing
Own Damage only
CoversYour car alone
Your carUp to the IDV
Best forNew cars with a long-term third-party policy already in force
Zero Depreciation (add-on)
CoversFull part cost, no depreciation cut
Cost~15–20% more
Best forCars under about 5 years, especially with plastic panels
Engine Protect (add-on)
CoversEngine damage from water ingress or oil leak
CostLow
Best forCities that flood; low-slung cars
Return to Invoice (add-on)
CoversInvoice price, not IDV, on a total loss
CostModerate
Best forCars under 3 years, where the gap is largest

What actually changes your premium

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The IDV

The own-damage premium is a percentage of it. A higher IDV means a higher premium and a higher payout — they move together, which is exactly why under-insuring is a false economy.

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No Claim Bonus

20% after one claim-free year, rising to 50% after five. The single biggest discount available to you, and it is yours to carry between cars and insurers.

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Your RTO zone

Premiums vary by where the car is registered and driven. Metro zones with denser traffic and higher theft rates cost more than smaller towns.

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Engine capacity and fuel

Third-party rates are set by IRDAI on engine cc. Diesel and CNG cars typically carry a slightly higher own-damage rate than petrol.

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Voluntary deductible

Agreeing to fund the first ₹5,000–₹10,000 of any claim lowers the premium — and makes small claims not worth making.

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Add-ons you choose

Zero depreciation, engine protect, roadside assistance, return to invoice, consumables. Useful, but each one adds to the bill — take the ones that match your car's age and your city.

Tips & expert advice before you renew

  • Renew before expiry. A lapse means an inspection, and after 90 days your No Claim Bonus is gone for good.
  • Never set the IDV below what the car is worth. The premium saving is small; the payout gap on a total loss is not.
  • Ask for the NCB retention letter when you switch insurer or sell the car — without it the discount does not travel.
  • Declare modifications. CNG kits, alloys and aftermarket fittings must be on the policy or a claim involving them can be rejected.
  • Take zero depreciation on a car under five years — plastic panels and bumpers are where depreciation bites hardest.
  • Do not claim for small dents. One ₹6,000 claim can cost you more in lost No Claim Bonus over the following years.
  • Check the garage network near home and office, not the headline number.

Frequently asked questions

What is IDV in car insurance?

IDV stands for Insured Declared Value. It is the maximum amount your insurer will pay if your car is stolen or damaged beyond economical repair. It is the manufacturer's listed selling price of your model, less depreciation for the car's age, and it is also what your own-damage premium is calculated on.

How is IDV calculated?

Take the ex-showroom price of your exact model and variant and subtract depreciation by age. IRDAI fixes the rate for the first five years: 5% up to six months, 15% to one year, 20% to two years, 30% to three, 40% to four and 50% to five. After five years there is no fixed rate, so the insurer and owner agree a figure based on the car's condition.

Should I choose a higher or lower IDV?

Choose the one that reflects what your car is actually worth. A lower IDV cuts the premium but is also the ceiling on a theft or total-loss payout. A higher IDV raises the premium without raising what you can realistically recover. Under-insuring to save a few hundred rupees is the commonest and costliest mistake on a motor policy.

What is the difference between third-party and comprehensive car insurance?

Third-party cover is the legal minimum under the Motor Vehicles Act and pays only for injury or damage you cause to someone else. It pays nothing for your own car. Comprehensive cover adds own damage, theft, fire and natural disasters, and is priced on your IDV.

What is a No Claim Bonus?

A discount on the own-damage part of your premium for every claim-free year, starting at 20% after one year and rising to 50% after five. It belongs to you, not the car, so it transfers when you change vehicles and it survives a change of insurer if you ask for the retention letter.

Is zero depreciation cover worth it?

On a car under about five years old, usually yes. Without it the insurer deducts depreciation on every plastic, rubber and metal part replaced in a claim, which on a modern car with plastic bumpers and panels can mean paying a third to half of the repair bill yourself.

Can I renew my car insurance after it has expired?

Yes, but a lapsed policy usually means an inspection before the new one starts, and your No Claim Bonus is lost if the gap runs past 90 days. Driving without at least third-party cover is also an offence under the Motor Vehicles Act.

Does RupeeMaster sell car insurance policies?

No. RupeeMaster is a marketing and comparison platform. We estimate your IDV and connect you with IRDAI-registered insurers and their authorised representatives, who issue the policy and handle claims.

The information above is general educational content about car insurance in India and not personalised financial advice. The IDV shown on this page is an estimate from indicative ex-showroom prices for base variants and the published depreciation schedule; your insurer will set the actual IDV from your car's variant, registration date, condition and previous policy. Premiums, add-ons and terms vary by insurer. Please read the policy wording carefully before concluding a sale. RupeeMaster is a marketing and comparison platform, not an insurer.