How Does Depreciation Affect Your Two Wheeler In Detailed
What is depreciation? It is termed as the rate at which the insurers quantify the loss in value of an insured product due to wear and tear over time. It is based on the Insured Declared Value (IDV) of your product, i.e. the maximum compensation you will get for damages done to your vehicle due to any unforeseen accidents. This takes into account the market value of your vehicle. Therefore, the older your vehicle, the higher its depreciation rate....