Always a great amount no matter how cheap your car is in terms of cost. Became a mandatory requirement (the Motor Vehicle Act mandates cover car insurance), costs can not be avoided. Therefore, with a heavy heart that we part with our money when buying or renewing our car insurance plan. It is possible to adjust the amount of your car insurance policy premium up to a certain limit. The idea is to not lose coverage in the future of the race reducing premium costs for now. Step 1 – Determine the optimal Insured Declared Value (IDV) of your car.