70% no claim bonus by my insurance company?
After my 1st year no claim with my insurance company, the 70% no claim bonus that is supposed to be salaried back to me was not compensated and I was told that until 5 years I would not be entitled to it. Please let me know, is this true? or it is rip rotten Ireland by Insurance company.
Answers:
Yes it seems normal Source(s): http://www.insurance-assurance.com/
Most of the time, within is a wait period past you get a payment on a "loss sensitive" dividend. This is because you own XYZ years, by law, to present a claim to your insurance company - so they're not going to pay you until they're pretty darned sure you won't be presenting a claim.
The hang about period varies per location.
Related Questions:
Answers:
Yes it seems normal Source(s): http://www.insurance-assurance.com/
Most of the time, within is a wait period past you get a payment on a "loss sensitive" dividend. This is because you own XYZ years, by law, to present a claim to your insurance company - so they're not going to pay you until they're pretty darned sure you won't be presenting a claim.
The hang about period varies per location.
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