Insurance portability is new in India and this concept of portability can help an individual
. It is most beneficial if you are not satisfied with your current insurance provider. You can shift your insurance policy to any other insurance provider in case you are unhappy with your current insurance company. There is no need to cancel your policy and you can claim your other benefits such as no claim bonus.
Before exercising insurance portability, you must inform and request for insurance portability well within time so that it can be done successfully. Most of the motor insurance plans i.e. plans providing only third party coverage and plans providing comprehensive insurance can be shifted to new insurance provider without any hassles.
You have to note that you can shift your motor insurance policy to any new insurer only at the time of your car insurance renewal. You cannot shift in any other period of the policy. Most of the time, if we are not satisfied with the services provided by our insurance provider, we just stick to it because lot is at the stake as we dont want to lose on benefits such as no claim bonus but motor insurance portability will ensure that you chose right insurance policy suiting your needs. In earlier cases, when you used to be unsatisfied with your current insurance provider, you just end up forfeiting the policy and buying new one from another insurance company which will be eliminated from the system using this portability feature.
An individual has to take lot of factors into account while buying a new car insurance policy or at the time of car insurance renewal. It is not a simple task to buy insurance policies. So, one must make comparison of the motor insurance plans before buying an eventual plan. This comparison can be done with the help of insurance aggregators such as policybazaar.com which provides you numerous tools to make comparison of car insurance India plans.
One must believe that they can only derive maximum benefits out of the insurance policy only if they understand their insurance policy which can be done with help of these comparison tools. Further, car insurance India plans differ in their coverage and while using portability feature, you should know that all the benefits are not transferrable and you must make proper evaluation of the new insurance policy and the company itself. So secure your vehicle with online car insurance in India.