Nov / 28 / 2015

Ques: Insurance companies allow IDV of a car to increase by 10%. I want to know if I pay more for the premium because of increased IDV, will my insurer pay the full amount in the event of any accident?

Although IDV is the maximum amount that your insurer can pay, it is not necessary that your insurer will pay out the full amount. The payable amount is determined by each event.