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What is a Tractor Insurance?
A tractor insurance is a type of commercial vehicle insurance policy designed to protect your tractor from any unforeseen damages and losses that could occur due to instances such as accidents, collisions, natural calamities, fires or even thefts.
While a third-party liability policy for tractors only covers for damages to a third-party, a comprehensive insurance for tractors also covers for own damages and losses thus giving you and your business just the right amount of coverage you need for your tractors
Why should I buy a Tractor Insurance?
- If you or your organization uses a tractor or multiple tractors for your daily business operations, having at least a third-party liability tractor insurance is mandatory as per the Motor Vehicle Act. This financially covers you from any losses and damages caused to a third-party due to a tractor owned by your business.
- All businesses are prone to risks both big and small. However, if you’re an asset heavy business with several tractors being used for business operations, then getting a tractor insurance is the bare minimum you can do to protect all your tractors from own damages and losses- both to the tractor and the driver-owner itself.
- Insuring your tractor ensures you are protected against unforeseen, hefty losses thus preventing any kind of business downtime that are likely to arise during to natural calamities, and fires.
Why choose a Commercial Tractor Insurance by Digit?
What's Covered in a Commercial Tractor Insurance?
What’s not covered?
It is equally important to know what’s not covered in your commercial tractor insurance policy so that there are no surprises when you make a claim. Here are some such situations:
If you’re only going to go for a Third-Party Commercial Insurance for your tractor, then own damages and losses won’t be covered.
If during a claim, the driver-owner is found to be driving the tractor without a valid driver’s license or under the influence of alcohol then the claim can’t be approved.
Any damages or losses caused to the tractor due to contributory negligence won’t be covered for. For example, if there are existing floods in the city, and one still takes the tractor out.
Consequential damages is any damages or losses that aren’t a direct result of an accident, natural calamity or fire can’t be covered for.
Key Features of Commercial Tractor Insurance by Digit
| Key Features | Digit Benefit |
|---|---|
| Claim Process | Paperless Claims |
| Customer Support | 24x7 Support |
| Additional Coverage | PA Cover, Legal Liability Cover, Special Exclusions and Compulsory Deductibles, etc |
| Damages to Third-Party | Unlimited Liability for Personal Damages, Up to 7.5 Lakhs for Property/Vehicle Damages |
Types of Commercial Tractor Insurance Plans
Based on the type of your tractor, and number of tractors you want to insure, we offer two primary plans you can choose from.
| Liability Only | Standard Package |
Damages caused by your tractor to any third-party person or property. |
|
Damages caused by your tractor to a third-party vehicle |
|
Loss or damages to own tractor due to natural calamities, fire, theft or accidents. |
|
Injury/death of tractor owner-driverIf the owner-driver doesn’t already have a Personal Accident Cover from before |
|
| Get Quote | Get Quote |
How to claim?
Call us at 1800-258-5956 or drop us an email at hello@godigit.com
Keep your details such as policy number, location of the accident, date & time of the accident, and contact number of the insured/caller handy to make our process easier.
FAQs about Tractor Insurance Online in India
Does a tractor insurance also cover for the driver?
Yes, a tractor insurance covers for both the vehicle, and the owner-driver.
Can I insure all my tractors under one policy?
No, each tractor is required to have its respective insurance policy. However, you can get in touch with us for a customized quote to insure all your tractors at a reasonable premium price.
Is it mandatory to insure tractors?
Yes, according to the Motor Vehicle Act, it is mandatory to at least have a third-party insurance policy for your tractors to run legally on Indian roads. Moreover, the risks with respect to tractors is high and is therefore advisable to get maximum protection for the same.
What is the difference between a third-party tractor insurance and a comprehensive tractor insurance policy?
A third-party tractor insurance is one that only protects you from losses caused to a third-party (property, vehicle or person) whilst a comprehensive tractor insurance policy covers for both damages to a third-party and losses to your own tractor as well. Such as in the case of natural calamities, accidents, fires and thefts.
How much does a tractor insurance cost?
This will primarily depend on the type of your tractor and the city you operate it in. You can easily calculate your tractor insurance premium here.