๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      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.

      Practice Next
      ask-question