Tractor Third Party Insurance

Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Client Testimonials​

Prakhar Srivastava
2 months ago
They guided me through the intricacies of various insurance options, ensuring I fully understood each policy's coverage and benefits. Their transparency and willingness to address all my concerns instilled a sense of trust and confidence in their services.
Agam Kansal
2 weeks ago
Brilliant place for all types of insurance. Always connected with every claim settlement.. Hassle free.. Kudos to beemawala..
punitchibber chibber
2 weeks ago
Good service whenever we call to them they give positive response i have a claim they support and my claim got settled
rahul goyal
6 months ago
Beemawala and team is a best Company for take any type of insurance. They support and take care of your claim . Thanks a lot for your support of my claims many times .
Devyani Kharbanda
2 years ago
Shantanu is professional and very prompt in responding to my questions. I’m a repeated client and he’s been supportive throughout. I highly recommend his services. I wish him and his team good luck for future.

What is Tractor Third Party Insurance ?

Tractor Third Party Insurance is a type of insurance policy that provides coverage against the legal liabilities arising from third-party property damage or bodily injury caused by your tractor. This insurance is mandatory by law for all tractors plying on public roads in India. In case of an accident involving your tractor, if it causes damage to someone else’s property or injury to a person, the Tractor Third Party Insurance will cover the financial compensation that you are legally obligated to pay to the affected third party. This insurance ensures that you meet your legal responsibilities while safeguarding your financial interests.

⛦ Example Scenario: In Ramesh’s case, the Third Party Tractor Insurance would come to his rescue. The insurance covers the legal liabilities arising from the accident, including the damage caused to the person who lost their life and the property damage. This insurance prevents Ramesh from bearing the hefty financial burden alone, providing vital support during such unforeseen incidents. Insurance serves as a safety net, ensuring that Ramesh doesn’t have to face the entire cost on his own.

Coverages of Tractor Third Party Insurance

Third-Party Liability Coverage

Third-Party Liability Coverage

Covers legal liabilities for bodily injuries or property damage caused to third parties in an accident involving your Vehicle.

Factors Determining the Premium of Coverages of Tractor Third Party Insurance

Horse Power -HP

Horse Power -HP

Higher horsepower generally means the tractor can handle heavier loads, tougher terrain, and more demanding tasks on the farm

Usage of the Vehicle

Usage of the Vehicle

Vehicle used for personal purposes or business purposes may have different premium rates.

Major Differences Between Own Damage (OD) Cover and Third-Party Liability Cover IN Tractor Third Party Insurance

Coverage Own Damage (OD) Cover Third-Party Liability Cover
Definition
Provides coverage for damages to your vehicle due to accidents, theft, natural calamities, fire, and more.
Covers legal liabilities for damages caused to third-party property, injuries, or death due to your vehicle's involvement in an accident.
Scope of Coverage
Protects your own vehicle against a wide range of perils and damages.
Only covers damages and injuries caused to third parties, not your vehicle.
Premium Determination
Based on factors like vehicle's make, model, IDV, and add-ons chosen.
Regulated by the Insurance Regulatory and Development Authority of India (IRDAI). Premium rates are predefined based on the vehicle's engine capacity.
Coverage Extent
Comprehensive coverage for your vehicle, including theft, own damage, and accidents.
Limited to liabilities arising from third-party property damage, injuries, or death.
Add-ons
Various add-ons like zero depreciation, engine protection, roadside assistance, etc., can be availed to enhance coverage.
No add-ons are available, as it is a standardized cover as per IRDAI regulations.
Legal Compliance
Optional, but highly recommended for complete protection of your vehicle.
Mandatory by law to drive a vehicle on Indian roads.
Claim Settlement
Applicable for damages to your vehicle, subject to policy terms and conditions.
Covers financial liabilities towards third parties up to the prescribed limits.
Insurance Premium
Can significantly impact the premium amount based on the extent of coverage and chosen add-ons.
Premium rates are fixed as per the IRDAI guidelines and are based on the vehicle's engine capacity.

How to Settle Tractor Third Party Insurance Policy Claims?

Inform the Insurer

Inform Authorities

In case of an accident involving third parties, inform the local authorities and police.

Submit Required Documents

Collect Details

Gather information about the accident, such as vehicle numbers, contact details of involved parties, and witnesses.

Notify the Insurer

Notify Insurer

Report the incident to your insurance company as soon as possible. Provide accurate information and documents.

File an FIR (If applicable)

File FIR

If there are injuries or fatalities, file a First Information Report (FIR) at the nearest police station.

Claim Form Submission

Claim Form

Fill out the claim form provided by the insurer. Attach necessary documents, such as policy copy, FIR, driving license, vehicle registration, etc.

Survey and Assessment

Survey Process

The insurer may appoint a surveyor to assess the damage or loss. Cooperate during the survey process.

Document Verification

Document Verification

Ensure all documents are complete and accurate. Any false information may lead to claim rejection.

Claim Settlement

Claim Settlement

If the claim is approved, the insurer will provide a settlement amount based on policy terms and coverage.

Legal Proceedings

Legal Proceedings

In case of legal actions, the insurer may provide legal assistance.

Exclusions of Tractor Third Party Insurance Policy

Consequential Loss

Consequential Loss

Insurance may not cover losses that result as a consequence of a covered event, such as financial losses due to missed business opportunities.

Driving Under Influence

Driving Under Influence

Accidents caused while driving under the influence of alcohol or drugs may be excluded from coverage.

Unauthorized Drivers

Unauthorized Drivers

If an accident occurs while someone other than the authorized driver is driving the insured Two Wheeler , it may not be covered.

Racing or Adventure Activities

Racing or Adventure Activities

Damages occurring during racing, rallies, or adventure sports are typically excluded.

Intentional Damage

Intentional Damage

Any damages caused intentionally by the insured or any other person will be excluded from coverage under the Goods vehiclerying Vehicle Insurance policy.

Wear and Tear

Wear and Tear

Regular wear and tear of the vehicle or mechanical breakdowns are not covered.

Illegal Activities

Illegal Activities

Accidents caused while using the Two Wheeler for illegal purposes may be excluded.

War and Terrorism

War or Terrorism

Damages due to war, war-like situations, or acts of terrorism are generally excluded.

Nuclear Damage

Nuclear Damage

Any damages caused by nuclear activity are not covered.

Expired or Lapsed Policy

Expired or Lapsed Policy

If the policy is expired or lapsed at the time of the incident, there will be no coverage.

Documents Required for Claim Settlement under Tractor Third Party Insurance Policy

Accident Report Form

Accident Report Form

Duly filled and signed accident report form providing details of the incident.

File an FIR (If applicable)

Police FIR

Copy of the First Information Report (FIR) filed with the police in case of accidents resulting in third-party damage or injury.

Driving License

Copy of Driving License

A copy of the valid driving license of the driver involved in the accident.

Vehicle Registration Certificate (RC)

Vehicle Registration Certificate (RC)

A copy of the vehicle’s RC, which includes details such as the registration number, engine number, chassis number, etc.

copy of insured policy

Policy Document

A copy of the valid Third Party Goods Carrying Vehicle Insurance policy.

Proof of Third-Party Injury/Damage

Proof of Third-Party Injury/Damage

Any evidence or documentation proving the extent of injury or damage caused to the third party.

Third Party Details

Third Party Details

Contact information and details of the third party involved in the accident.

Witness Statements

Witness Statements

 Statements from witnesses present at the scene of the accident.

Medical Records (if applicable)

Medical Reports

In case of bodily injury, medical reports and bills supporting the claim.Previous Claims History

Police Investigation Report (if applicable)

Police Investigation Report

In case the police conducted an investigation, a copy of their findings.

Contact Information for Claim Settlement: related to Tractor Third Party Insurance Policy

If Policy Obtained through Agent/Broker

Contact your agent or broker first, as they will guide you through the claims process and assist in reporting the claim.

If Policy Obtained Directly from Insurance Company

Contact the insurance company’s claims department directly to report the claim and follow their instructions for a smooth claims settlement.

Claim Contact Information for Policy from Beemawala.com

If you have taken the policy from Beemawala.com, please use the following contact details to register your claim.

Frequently Asked Questions: Tractor Third Party Insurance Policy

Tractor Third Party Insurance is a mandatory policy that covers your legal liabilities for third-party property damage or bodily injury caused by your tractor.
It’s mandated by law to ensure financial protection for third parties affected by accidents involving your tractor.
It covers the financial compensation you’re liable to pay for third-party property damage or injury due to your tractor.
No, it only covers third-party liabilities, not damages to your tractor or injuries to you.
Premium is regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and is based on the horsepower of your tractor.
No, comprehensive coverage also includes damages to your tractor and personal injuries, while third-party insurance only covers third-party liabilities.
No, it’s illegal to use a tractor on public roads without valid Third Party Insurance.
Yes, you can buy Tractor Third Party Insurance online through insurance company websites or aggregator platforms.
You’ll be held personally liable for all the financial compensation required for third-party damages or injuries.
No, Tractor Third Party Insurance is mandatory and doesn’t offer additional coverage options.
You need to inform your insurance company, provide necessary documentation, and cooperate with their claims process.
You can face legal penalties, fines, and even have your tractor confiscated if caught driving without insurance.
Yes, Tractor Third Party Insurance is valid throughout India.
No, Tractor Third Party Insurance is not transferable upon sale of the tractor.
No, Third Party Insurance doesn’t cover damages to your own tractor.
If your tractor never enters public roads, you may not need Third Party Insurance, but it’s recommended to consult with your insurer.
Yes, you can cancel it, but a refund will be provided based on the insurer’s cancellation policy.
No, Tractor Third Party Insurance is usually offered for a full policy year.
Yes, it’s advisable to have your insurance documents with you whenever you’re using the tractor.
Yes, you can renew it online before the policy expiration date to ensure continuous coverage.
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