Hyundai i20: 3 years old, original ex-showroom ₹8 lakh
Depreciation @ 30% (years 2-3 slab): IDV = 8,00,000 × 0.70 = ₹5,60,000. Comprehensive premium @ 3%: ~₹16,800/year. Add-ons (zero-dep, engine protection): ~₹6,000-₹10,000.
Car Depreciation Calculator - Бесплатный онлайн-калькулятор
Calculate the Insured Declared Value (IDV) of your car using the IRDAI standard depreciation table. Useful for car insurance renewal, resale negotiation and understanding how fast a car loses value in India.
- Формула на странице
- Работает в браузере
- Ввод остаётся приватным
₹
Price as per the original brochure / invoice.
yr
Decimals allowed (e.g. 1.5 for 18 months).
IRDAI depreciation table
- Up to 6 months: 5%
- 6 - 12 months: 15%
- 1 - 2 years: 20%
- 2 - 3 years: 30%
- 3 - 4 years: 40%
- 4 - 5 years: 50%
- 5+ years: mutually agreed
Current IDV
₹5,60,000
Insured Declared Value
Depreciation
30 %
Value lost
₹2,40,000
| Age | Depreciation | IDV |
|---|---|---|
| New | 0 % | ₹8,00,000 |
| Year 1 | 15 % | ₹6,80,000 |
| Year 2 | 20 % | ₹6,40,000 |
| Year 3 | 30 % | ₹5,60,000 |
| Year 4 | 40 % | ₹4,80,000 |
| Year 5 | 50 % | ₹4,00,000 |
| Year 6 | 56 % | ₹3,52,000 |
| Year 7 | 62 % | ₹3,04,000 |
| Year 8 | 68 % | ₹2,56,000 |
| Year 9 | 74 % | ₹2,08,000 |
| Year 10 | 80 % | ₹1,60,000 |
IRDAI depreciation applies only to motor insurance IDV. Resale depreciation is typically steeper, especially in the first year. Beyond 5 years, IDV is settled by mutual agreement between insurer and insured - your final premium may differ.
Часть содержимого пока показывается на английском.
Что такое Car Depreciation Calculator
Cars are depreciating assets - the moment you drive out of the showroom, your car loses about 10-15% of its value, and it continues losing 8-15% each year for the first 5-7 years. Understanding how depreciation works is essential for two financial decisions: how much insurance to buy (which determines the maximum payout if your car is totalled or stolen), and what to expect at resale. This calculator follows the official IRDAI depreciation schedule used by all motor insurers in India - the same table that LIC, ICICI Lombard, HDFC Ergo, Bajaj Allianz and every other motor insurer must adhere to when quoting your Insured Declared Value (IDV).
There are two distinct depreciation concepts to keep in mind. First: IRDAI insurance depreciation, which is a fixed regulatory schedule applied to compute IDV. Second: market resale depreciation, which is typically steeper - most cars lose 25-30% by end of year 1 in the resale market, 40-50% by year 3, and 60-70% by year 5. This calculator computes IRDAI IDV; for resale value, consult sites like CarDekho, OLX Autos or Spinny which use real transaction data. Some makes (Toyota, Honda, Maruti) depreciate slower than others (Tata, Renault, Datsun) due to perceived reliability and parts availability.
Как пользоваться: Car Depreciation Calculator, шагов: 4
Enter the ex-showroom price of the car when new.
Enter the car's age in years (decimals allowed for partial years).
Read the depreciation percentage and the resulting IDV.
Use the year-by-year schedule to estimate value at any future renewal.
Как работает Car Depreciation Calculator
IRDAI publishes a fixed depreciation schedule that all motor insurers must use to compute IDV - the amount paid out in case of total loss or theft. The schedule is steepest in the first year (15%) and slows after that. Beyond 5 years, IRDAI states that the IDV is to be 'mutually agreed' between insurer and insured, but in practice most insurers continue the trend at 6-8% per additional year, capped around 80% total. The calculator follows the official table for years 1-5 and a smooth taper afterwards.
Formula
IDV = Ex-showroom price × (1 − Depreciation%)
- Ex-showroom priceOriginal price of the car (excluding RTO and insurance)
- Depreciation%Cumulative loss in value per IRDAI table
Как Car Depreciation Calculator получает результат
IRDAI's official depreciation schedule: 0-6 months: 5%. 6-12 months: 15%. 1-2 years: 20%. 2-3 years: 30%. 3-4 years: 40%. 4-5 years: 50%. Beyond 5 years: mutually agreed between insurer and policyholder (IRDAI guidelines suggest 60-70% for 5-10 year cars). This calculator uses the official table for years 0-5 and applies a smooth 6-8% additional depreciation per year beyond, capped at around 80% total - matching what most insurers offer in practice.
IDV calculation: IDV = ex-showroom price × (1 − cumulative depreciation%). For a 3-year-old car bought new at ₹10 lakh ex-showroom, IDV = 10,00,000 × (1 - 0.30) = ₹7,00,000. The premium for comprehensive insurance is roughly 3-3.5% of IDV for first-year vehicles, declining to 2.5-3% for older cars. Third-party premium is fixed by IRDAI and doesn't depend on IDV.
IDV negotiation: IRDAI allows a 5-10% band around the calculated value. Most insurers quote slightly above the floor to optimise premium revenue; you can request the maximum IDV in the band for better claim protection. Higher IDV = higher payout if total loss, but also slightly higher premium. For older cars (5+ years), the IDV is often the deciding factor in whether comprehensive insurance is worth it - when IDV drops below ₹1-2 lakh, third-party + own-damage cover may not be cost-effective.
Разобранные примеры
Maruti Swift: 6 years old, original ex-showroom ₹6 lakh
Depreciation ~58% (5 yr 50% + 1 extra year ~8%): IDV ≈ 6,00,000 × 0.42 = ₹2,52,000. Premium @ 3%: ~₹7,500. At this age, consider third-party only for ₹2,500-₹3,000.
Mahindra Thar: 1 year old, original ex-showroom ₹13.5 lakh
Depreciation @ 15% (6-12 months): IDV = 13,50,000 × 0.85 = ₹11,47,500. Premium @ 3%: ~₹34,400. New cars get the highest IDV, hence highest absolute premium.
Когда использовать: Car Depreciation Calculator
- Estimating car insurance premium and IDV for renewal time.
- Selecting the right IDV within IRDAI band for maximum claim protection.
- Comparing insurer quotes - IDV should be similar across all comprehensive insurers.
- Deciding whether comprehensive vs third-party cover makes sense for old cars.
- Resale negotiation - using IRDAI IDV as the starting reference.
- Estimating loss in case of total damage or theft for financial planning.
- Buying used cars - knowing fair value from depreciation tables.
- Insurance claim - understanding how much you'll get if claim is total loss.
Типичные ошибки и подводные камни
- Accepting the lowest IDV quoted to save on premium. You lose the difference if there's total loss.
- Choosing IDV outside IRDAI band. Excessively high IDV may be rejected; excessively low one shortchanges you.
- Confusing IRDAI depreciation with resale market depreciation. They are different.
- Forgetting that depreciation on parts (plastic 50%, rubber 50%, fibreglass 30%, paint 50% per year) reduces claim payouts further. Zero-depreciation add-on waives this.
- Letting policy lapse - coverage gaps are difficult to bridge and renewal may require fresh inspection.
Как получить больше от инструмента
- Always renew car insurance before expiry. Even a 1-day lapse can lose NCB (No Claim Bonus) and trigger inspection.
- For cars 0-3 years old, opt for zero-depreciation add-on. The premium increase (~15-20%) is worth it for claims.
- Compare IDV across insurers - they should be nearly identical. If one quote is significantly higher, verify with the calculator.
- For cars 7+ years old, consider third-party only insurance - comprehensive premium may exceed IDV/3.
- Pair with the car EMI, road trip cost, and fuel cost calculators on this site for total ownership cost analysis.
Вопросы: Car Depreciation Calculator
What is IDV in car insurance?
IDV stands for Insured Declared Value. It is the maximum claim amount payable on total loss, theft or constructive total loss. A higher IDV means a higher premium, but also a bigger payout.
How does IRDAI's depreciation table work?
0-6 months: 5%. 6-12 months: 15%. 1-2 years: 20%. 2-3 years: 30%. 3-4 years: 40%. 4-5 years: 50%. Beyond 5 years: mutually agreed (typically 60-80%).
Should I choose a higher IDV?
If your car is in pristine condition, choosing a higher IDV (within the IRDAI band) gives you a bigger payout in case of total loss. But it also raises your premium.
Is IRDAI depreciation the same as resale depreciation?
No. Resale depreciation is even steeper - most cars lose 25-30% in year 1 and 50-60% by year 5. IRDAI's table is purely for insurance.
Does IDV reset every year?
Yes. Each renewal computes a fresh IDV based on age, then applies the next year's depreciation slab. Premium reduces every year along with IDV.
What about depreciation on car parts in claim settlement?
Different from IDV. When you claim repairs, insurers also depreciate plastic and rubber parts (50%), fibreglass (30%), and wood (5-10%) by year. A zero-depreciation add-on policy waives this.
Total cost of ownership, simplified
Owning a vehicle in India means juggling EMI, fuel cost, depreciation, charging cost (for EVs), maintenance and trip cost. These numbers are interconnected - a longer commute means more fuel, faster depreciation, and bigger interest payments. Rather than treat them in isolation, the vehicle calculators help you see the full stack before you sign on the dotted line.
Pair this calculator with the EMI, depreciation, fuel cost and EV charging calculators to compute the realistic monthly cost of ownership. For depreciation we follow the IRDAI standard schedule used by Indian insurers for IDV (Insured Declared Value); for EV charging we model losses, charger type and time-of-use tariffs.
The Car Depreciation Calculator is part of the Vehicle suite on Online Calculator Tools, alongside 6 related calculators. All tools share the same UI patterns, the same privacy-first rendering (nothing is sent to a server), and the same commitment to showing the formula and assumptions behind every result.