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GR.8. Insured's Declared Value (IDV) The Insured's Declared Value (IDV) of the vehicle will be deemed to be the 'SUM INSURED' for the purpose of this tariff and it will be fixed at the commencement of each policy period for each insured vehicle.
The IDV of the vehicle is to be fixed on the basis of manufacturer's listed selling price of the brand and model as the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation (as per schedule specified below). The IDV of the side cars) and /or accessories, if any, fitted to the vehicle but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed. The schedule of age-wise depreciation as shown below is applicable for the purpose of Total Loss/ Constructive Total Loss (TL/ CTL) claims only.
A vehicle will be considered to be a CTL, where the aggregate cost of retrieval and /or repair of the vehicle subject to terms and conditions of the policy exceeds 75% of the IDV."

33. As per the Indian Motor Tarriff, A vehicle will be considered to be Constructive Total loss, where the aggregate cost of retrieval and/or repair of the vehicle subject to terms and conditions of the policy exceeds 75% of the IDV. Therefore, it is clear that if the cost of repair ALLOWED PAGE 13 OF 15 C/933/2017 D.O.D.: 29.11.2024 MR. SANJAY SHARMA VS. IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED exceeds 75 % of the IDV under the Insurance Policy, then the compensation would be a payable at par with the IDV. In the present case, the cost of repairing exceeding the limit of 75% of the IDV. Therefore, the Complainant is entitled for full IDV of the insured Vehicle.