How to File Tractor Insurance Claim Online?

India is a country where 70% of its land is used in agriculture and therefore, it is the primary source of livelihood for a large number of families. In this way, the land and the equipment like tractors used in farming are very essential for approximately 50% of Indian households. Keeping the tractors in the best possible estate is one of the major responsibilities of farmers as they use them in the harvesting and cultivating process. If a tractor gets damages, the farmers or landowners who own it come across a considerable financial loss. This is the reason tractor insurance policy has become important.

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Apart from providing financial help when a tractor gets damage or encounters loss, a tractor insurance policy is mandated by law. Therefore, tractor insurance plans are compulsory for tractors. Many general insurance providers sell tractor insurance policies and they provide coverage for commercial and farm tractors. So, to claim a tractor insurance policy one must follow the steps provided here, but before that let us all learn about a tractor insurance policy itself.

What is Tractor Insurance?

A tractor insurance policy comes under a commercial vehicle insurance policy that provides cover against damages incurred. Whereas a third-party tractor insurance policy provides insurance coverage for third parties damaged by the insured tractor.

Who Can Purchase Tractor Insurance?

A tractor insurance policy can be purchased by legal owners of the tractors who want security against financial losses faced at the time of damages incurred to tractors and as well to fulfill the provision of the law according to which it is compulsory to buy a vehicle insurance policy.

Features of Tractor Insurance Policy

With a tractor insurance plan, one gets the following benefits:

  • The period of a tractor insurance policy is one year.
  • One gets third-party liability insurance for the losses or damages incurred to a third-party person or property by the insured tractor.
  • A comprehensive tractor insurance policy provides insurance coverage against losses and damages incurred to the insured tractor.

Steps to Make Claim Under Tractor Insurance Policy

For claiming a tractor insurance policy, one has to follow the below-mentioned steps:

  • As soon as the claim occurs, one must inform his/her insurance provider instantly on its toll-free number.
  • For own damage claims, the insurance provider generally arranges an on-the-spot survey of the damaged tractor by sending its surveyor. One should not move his/her tractor before completion of the survey.
  • After completion of the survey, the insurance provider would approve the claim, and one can get the cashless repairs done at any of the network garages.
  • For third-party claims, one has to inform his/her insurance provider and as well file a police FIR. The insurance claim then goes to Motor Accidents Tribunal that specifies the financial liabilities. The liability, after this, is paid by the insurance provider.
  • In case of loss or theft of the insured tractor, one must have to file a police FIR and should inform his/her insurance provider about the same. If the police become unable to trace his/her tractor, the insurance provider would pay the Insured Declared Value (IDV) and settle the tractor insurance claim.

Documents Required to File a Claim:

For making a valid claim under his/her tractor insurance policy, one has to submit the following documents to the insurance company:

  • RC book of the tractor
  • Copy of FIR (for third-party claims or theft)
  • Driving license
  • Bills of repairs in original
  • Damaged tractor’s photographs
  • Subrogating letter
  • Voucher of expenses issued by the workshop at the time of discharge of vehicle

Claim Settlement Under Tractor Insurance Policy

The insurance company would settle the tractor insurance claim, on a cashless basis, when the tractor is repaired at the network garage. However, if the insured gets the repairs done at any of the non-network workshops, then he/she has to bear the expenses of repair initially. After that, when one submits the claim form and original bills, the cost of the insurance is reimbursed by the insurance provider within seven to ten days of the submission of the proper claim documents.

Summing It Up!

A tractor insurance policy is a popular insurance type under commercial vehicle insurance plans for the owners of the tractors. The insurance policy pays for the financial losses suffered by the tractor's owner and hence it provides them financial security. So, if one has a tractor which he/she used for commercial purposes, it is suggested to get its insurance. This is to protect oneself from any possible financial losses in case of some contingency. On the other hand, if one feels a problem while making a claim, he/she should follow the aforementioned steps. By following these steps one can make claim very easily however, one should always remember to submit all the required documents to the insurance company for smooth claim settlement.

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