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    Question

    The 'Insured Declared Value' (IDV) of a vehicle refers

    to its:
    A Purchase price Correct Answer Incorrect Answer
    B Market value Correct Answer Incorrect Answer
    C Insured value declared by the policyholder Correct Answer Incorrect Answer
    D Replacement cost Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The IDV is the value of the vehicle declared by the insured in the policy document for the purpose of insurance coverage.

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