Price may also be affected by other factors like usage, past bike insurance claims experience etc. This means, the higher your IDV is, the higher your bike insurance premium – and as your vehicle ages and IDV depreciates, your premium also decreases.Īlso, when you decide to sell your bike, a higher IDV means you’ll get a higher price for it. The 2 Wheeler Insured Declared Value and your two wheeler insurance premium go hand in hand. IDV is the maximum amount your insurance provider can give you, in case your bike is stolen or totally damaged. What is Insured Declared Value (IDV) in Two Wheeler Insurance? All this within just a few minutes to spare online, and we’ll take care of the rest! The best part? Comprehensive Bike Policies can further be customized by opting for add-ons that help protect your bike in all possible situations. From the complete Comprehensive Cover to standalone Third-Party and Own Damage Bike Insurance Policies as well. This way, if you run into a third-party vehicle or someone bumps into you, you will be covered against any damages and losses caused.ĭigit provides two-wheelers with three kinds of bike insurance policies. Perhaps that’s why, at least having a Third-Party Bike Insurance is mandatory by law. With so many two-wheelers muddling across cities, accidents are prone to happen. This data alone speaks for the volumes of two-wheelers in India! ( 1) This figure is almost double the 2011 sales, when just 11.77 million two-wheeler units were sold in India. Two-wheeler sales in India reached an all-time high as of 2019, when India's auto industry sold some 21 million units.
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