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Motor Insurance Portability
Oct 13, 2023

Motor Insurance Portability: All You Need to Know

As a vehicle owner, it is important that you take care of the aspects of a vehicle that are involved with its maintenance, especially the insurance aspect. While in the beginning you may have enjoyed the benefits of the policy’s coverage, you may feel like changing your insurance provider at some point. This is where porting your policy from one insurer to another can be done. Motor insurance portability is a concept that allows policyholders to transfer their existing policy to a new insurance company without losing any of the benefits. In this article, we are going to learn how does this concept work and the benefits you might get from it.

What is Motor Insurance Portability?

A policyholder may decide to change their insurance provider after a period. It can be either due to availing of better policy coverage or dissatisfaction with their existing insurance features. Whatever be the case, vehicle insurance portability allows the policyholder to change their insurer without losing out on their accrued policy benefits such as NCB. Vehicle insurance portability is the process of transferring an existing motor insurance policy from one insurance company to another. The transfer is done without letting you lose any of your existing benefits, which might include no-claim bonus, discounts, and other such features. #

How Does Motor Insurance Portability Work?

If you wish to port your vehicle insurance from one insurer to another, these are the steps for the same:
  1. Approaching the New Insurance Company

As a policyholder, you need to approach the new insurance company that will be taking over your policy. It is important that you do your research before selecting a company. Compare various insurers online and select the insurer that matches your criteria. Claim settlement ratio, choice of add-ons, and option to buy as well as cost of multi-year policy are some considerations to keep in mind.
  1. Letting your Policy be Evaluated by the new Insurance Company

After you approach the new company, they will evaluate your existing policy and decide whether to accept the transfer or not. There might be some parameters in their process of evaluation on the basis of which they might decide whether to transfer your policy or not.
  1. Getting a Quote from the New Insurance Company

If the new insurance company decides to accept the transfer, they will issue a quote for the new policy. The quote depends on the type of policy you own, the additional features it might have and other factors.
  1. Accepting the Quote from the Policyholder

Once the new company issues a quote, it is your decision whether to accept the quote or not. Make sure that the quote is not higher than the existing one. Look for any changes in the motor insurance coverage being offered by the new insurer.
  1. Receiving a No-Claim Bonus Certificate form the Old Insurance Company

Once the new policy is issued, the old insurance company will issue a no-claim bonus certificate to you. Do keep in mind that your old company will issue an NCB certificate if you have not filed a claim and your bonus is intact. If you have filed a claim right before porting your policy, you may not get the bonus transferred.*

What are the Benefits of This Feature?

Vehicle insurance portability has the following benefits that you might enjoy

- Choice

The portability feature provides you with the flexibility to choose the insurance company that offers the best coverage and premium rates.

-  No-Claim Bonus Retention

You can retain the no-claim bonus even when you switch insurance companies, if you meet the required criteria laid down by the new company.

-  Savings

You get to save money on your policy by installing safety devices. The installation of safety devices helps in reducing the cost of your policy.*

-  Convenience

The process of porting is simple and hassle-free; it does not require you to undergo the entire process of buying a new policy.

What are the Eligibility Criteria for Vehicle Insurance Portability?

To be eligible for the porting process, you are required to meet the following criteria:

-  Policy must be Renewed on Time

It is important that you must renew your motor insurance policy on time to be eligible for the porting process.

-  No Claims

If you have made claims on your existing policy, the new insurer may not consider you to be eligible for porting your insurance policy to their company.*

-  Policy Must be Active

You must ensure that your existing insurance policy is active to be eligible in order to be ported. If for any reason your policy is not active, the portability might not take place.*


As you can see, portability is a concept that allows you to transfer your existing insurance policy from one insurance company to another. It does not interrupt you from enjoying the benefits of the policy. Before you port to another insurer, use the motor insurance calculator to see the quotes that your preferred insurer might offer. If the quote matches your expectations, you may go with that insurer.   *Standard T&C apply #Visit the official website of IRDAI for further details Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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