Many people confuse a car’s Insured Declared Value (IDV) with its resale value. However, these are entirely different. IDV in car insurance refers to the compensation you receive in case of total loss or theft, whereas resale value depends on market demand. Understanding IDV value means knowing your car’s true insurance worth. This guide dives into the differences and explains how to use an IDV calculator effectively.
IDV vs. Resale Value: What’s the Difference?