Third Party Tractor Insurance
What is Third-party Tractor Insurance?
Third-Party Tractor Insurance is a type of Commercial Vehicle Insurance that protects the policyholder from financial liability in the event that they are involved in an accident with another party and are found to be at fault. This type of insurance is typically required by law in many countries and is intended to provide protection for other individuals and property that may be damaged or injured as a result of the policyholder’s actions.
In the case of a tractor, third party insurance would cover damages to other vehicles, property, or individuals that may be involved in an accident with the tractor.
Price
The Third-Party Tractor Insurance Policy Price for one year of coverage is 8300.
Third-Party Insurance Price for popular tractors in India:
| Tractor Make & Model | Insurance Price |
| Mahindra Tractor 555 | 8349 |
| Mahindra JIvo 365 | 8617 |
| Swaraj 735 FE Tractor | 8756 |
| Mahindra 575 DI tractor | 8875 |
| Farmtrac Tractor | 8963 |
| Eicher Tractor | 9023 |
| John Deere Tractor | 9199 |
| Sonalika Tractor | 9086 |
Key Features
- Liability coverage: This covers damages or injuries that you cause to another person or their property while operating your tractor.
- Property damage coverage: This covers damages that you cause to someone else’s property while operating your tractor.
- Medical coverage: This covers medical expenses for the other party if they are injured in an accident involving your tractor.
- Personal injury protection: This covers medical expenses for you and your passengers if you are injured in an accident involving your tractor.
- Uninsured/underinsured motorist coverage: This covers damages or injuries that you suffer in an accident involving an uninsured or underinsured driver.
- Towing and roadside assistance: This covers the cost of towing your tractor if it breaks down or is in an accident, as well as other roadside assistance services such as jump starts or tire changes.
How much does agriculture tractor insurance cost for 1 year?
The Third-Party Tractor Insurance Price is ₹9510 if it is used for private goods carrying purposes and 17647 Rupees for public carrier purposes.
What are the categories for tractor insurance in India?
In India, tractor insurance is typically categorized based on the type of coverage offered and the level of protection provided. Some common categories of tractor insurance in India include:
- Third-party tractor insurance: This type of insurance provides coverage for damages or injuries that you cause to another person or their property while operating your tractor.
- Comprehensive tractor insurance: This type of insurance provides coverage for both third-party damages and losses to your tractor. It typically includes coverage for damages caused by accidents, theft, fire, and natural disasters.
- Standalone tractor insurance: This type of insurance provides coverage for your tractor only and does not include liability coverage for damages or injuries caused to other parties.
- Package tractor insurance: This type of insurance combines’ tractor insurance with other types of insurance, such as farm liability insurance or crop insurance, in a single package policy.
What is not covered
- Damages to your tractor: Third-party tractor insurance typically does not cover damages to your tractor, unless the damages are caused by an uninsured or underinsured driver.
- Injuries to yourself or your passengers: Third-party tractor insurance typically does not cover injuries to yourself or your passengers, unless the injuries are caused by an uninsured or underinsured driver.
- Damage or loss due to theft: Third-party tractor insurance typically does not cover damages or losses due to theft.
- Damage or loss due to fire: Third-party tractor insurance typically does not cover damages or losses due to fire.
- Damage or loss due to natural disasters: Third-party tractor insurance typically does not cover damages or losses due to natural disasters such as earthquakes, floods, or hurricanes.
Types of add-on covers in a third-party tractor insurance policy
- Zero depreciation cover: This cover provides full coverage for the value of your tractor without any depreciation deduction.
- Engine protection cover: This cover protects the engine of your tractor in the event of damages or repairs.
- Key replacement cover: This cover provides reimbursement for the cost of replacing lost or stolen keys for your tractor.
- Tire protection cover: This cover protects the tires of your tractor in the event of damages or repairs.
- Hydraulic lift cover: This cover protects the hydraulic lift of your tractor in the event of damages or repairs.
- Legal liability cover: This cover protects legal fees and expenses if you are sued for damages or injuries caused by your tractor.
How to buy/renew
- Share RC or Existing Insurance Copy with our executive on Policymeter.com
- Get Tractor Insurance quotes online.
- Select the quote you desire and buy/to renew online.
- Receive the soft copy in your email.
How to register a claim
- Inform the insurance company about the incident.
- The insurance provider will make a physical inspection of the truck.
- The network garage will make the repair work evaluation.
- The insurer will approve the repair following the repair work at the network garage.
- After repairs, the invoice is submitted to the insurance provider.
- Fill up the claim form and submit all the other required documents.
- The bill will be settled directly with the network garage.
Documents required at the time of Claim
- Claim form: Most insurance companies will require you to fill out a claim form to initiate the claims process. The form will typically ask for information about the incident, including the date, time, location, and details about any damages or injuries.
- Proof of insurance: You will need to provide proof that you have an active third-party tractor insurance policy with the company. This could be a copy of your policy documents or a copy of your insurance card.
- Police report: If the incident involved an accident, you may be required to provide a copy of the police report. This report will contain details of the accident and may be used to help determine who was at fault.
- Repair estimates: If you are seeking reimbursement for damages to your tractor, you will need to provide repair estimates from a qualified mechanic or repair shop.
- Medical bills: If you or anyone else involved in the incident sustained injuries, you may be required to provide medical bills and other documentation related to the injuries.
- Witness statements: If there were any witnesses to the incident, you may be asked to provide statements from them. These statements can help to establish what happened and who was at fault.
- Documentation of damages: You will need to provide documentation of any damages that occurred as a result of the incident. This could include photographs, repair estimates, or other documentation.
Top companies
- Iffco Tokio Insurance: Bajaj Allianz is a leading insurance company in India that offers a range of insurance products, including third-party tractor insurance.
- SBI General : SBI is another popular insurance company in India that offers third-party tractor insurance.
- ICICI Lombard : ICICI Lombard is a well-known insurance company in India that offers a variety of insurance products, including third-party tractor insurance.
- Tata AIG: Tata AIG is a leading insurance company in India that offers third-party tractor insurance, as well as a range of other insurance products.
- Reliance General Insurance: Reliance General Insurance is a well-respected insurance company in India that offers third-party tractor insurance, as well as other insurance products.
FAQs
Q1. What is third-party tractor insurance?
Answer- Third-party tractor insurance is a type of insurance that provides coverage for damages or injuries that you may cause to another person or property while operating your tractor. It does not cover damages to your own tractor or injuries to you.
Q2. Is third-party tractor insurance required by law?
Answer- In most countries, third-party insurance is required by law for vehicles that are driven on public roads, including tractors. In the United States, the specific requirements for tractor insurance vary by state, so it is important to check with your state’s department of motor vehicles to determine what coverage is required.
Q3. How does third-party tractor insurance work?
Answer- It works by providing financial protection in the event that you are held liable for damages or injuries caused to another person or property while operating your tractor. If you are involved in an accident and are found to be at fault, your insurance company will pay for the damages or injuries up to the limits of your policy.
Q4. What does third-party tractor insurance cover?
Answer- It typically covers damages or injuries that you may cause to another person or their property while operating your tractor. This may include damages to another vehicle, injuries to the driver or passengers of the other vehicle, or damages to structures or property.