11 December 2012
I HAVE RECEIVED A 'NO CLAIM BONUS' OF 60% FROM AN INSURANCE COMPANY FOR MY OLD CAR, WHERE SHOULD I SHOW THIS REFUND IN MY ACCOUNT BOOK..? PLEASE HELP ME THANK YOU.
11 December 2012
As per my knowledge , insurance co do not give refund of "no claim bonus". Rather they adjust the bonus in the next year's premium. And hence next year you will have to pay a less amount for premium. Hence it will be automatically adjusted in next year when you will claim less expense for premium. Rectify me if i am wrong!!
CAclubindia
