Escorts Insurance

Popular Escorts Tractors Models with Insurance Price

Disclaimer: The Escorts Tractor Insurance Price for various Commercial Vehicle models may vary as per the engine capacity, IDV, RTO, type of fuel, registration year, etc.

Reasons to Buy Escorts Tractors Insurance Policy

Here are the reasons to purchase an Escorts tractor insurance policy:

• Law Mandate: Having at least a third-party commercial vehicle insurance is mandatory as per the Indian Motor Laws to legally ply on the Indian roads.
• Financial Safety: It helps business owners to get financial protection for any damages incurred to or by the insured tractor.
• Covers Several Damages: In case of a comprehensive tractor insurance policy, policyholders get a broader coverage against several damages caused to the insured vehicle due to accidents, collisions, natural calamities, theft, fire, etc.

Types of Escorts Tractors Insurance Policy

• Third-Party Insurance: Every Escorts tractor used for commercial purposes must have a third-party commercial vehicle insurance policy as per the Motor Vehicles Act, 1988. This type of insurance protects business owners against damages caused to a third-party person or property only and not the damages caused to the insured tractor. The third-party insurance premium is solely set by the IRDAI and stays the same despite the insurer.
• Comprehensive Insurance: A comprehensive commercial vehicle insurance plan not only provides cover for third-party liabilities but also compensates for losses caused to your insured tractor due to accidents, theft, fire, or natural disasters. Many tractor owners opt for it even though it is an optional policy because of the all-round financial safety at a slightly higher premium.

Add-Ons with Escorts Insurance

A standard policy can be enhanced with the following add-on covers for commercial vehicle insurance at an additional premium to cover the parts that are not generally insured:

• IMT 23 Add-On: The IMT 23 add-on extends protection to excluded parts, such as tyres, tubes, lamps, bumpers, bonnet, sideparts, etc. Policyholders must note that depreciation is deducted on the repaired and replaced parts as per the age of the vehicle while settling accidental claims.
• Zero Depreciation Cover: In most accidental claims, insurers deduct depreciation cost from the final claim amount as per the age of the Escorts tractor. With the zero dep add-on, policyholders get full reimbursement for repaired and replaced parts, except for tyres, tubes, and batteries which are usually covered at 50% costs.
• Accessories Add-On Cover: Several commercial vehicles often have additional electrical and non-electrical fittings such as fog lamps, seat covers, or music systems. The accessories add-on cover protects the additionally-fitted accessories against any damages.
• Personal Accident Cover: It is mandatory for commercial vehicle owners to have a PA cover of at least ₹15 lakhs to protect the owner-driver against death or permanent disability caused by a road accident.

How to Buy Escorts Insurance Online?

The steps to buy or even renew an Escorts insurance online are given below:

• Go to policybazaar.com and select 'Commercial Vehicle Insurance from the homepage.
• Enter the registration number of the Escorts tractor or select 'I have a brand new vehicle' if it is a brand-new vehicle.
• Choose the right IDV, NCB (if renewing), and pick any add-ons.
• Compare the insurance plans that appear on the screen.
• Confirm all the details and pay the premium online.
• The Escorts insurance policy will be sent to the registered email instantly.

How to File an Escorts Insurance Claim?

Policyholders can follow the steps mentioned below to file a claim in case the insured Escort tractor meets with an accident or suffers any damage:

1. Notify the Insurer: Report the incident immediately to the commercial vehicle insurance provider to start the claim process.
2. Damage Inspection: A surveyor will be appointed by the insurer and will assess the extent of the damage incurred by the insured tractor.
3. Submit Documents: Provide all the required claim documents after the inspection is completed.
4. Repair & Settlement: The commercial vehicle will be repaired at an authorised network garage and the insurer will settle the claim.

Documents Required to File an Escorts Insurance Claim

The following documents are required to file an Escorts tractor insurance claim:

• Duly filled, signed, and verified claim form
• Registration Certificate (RC) of the Escorts vehicle
• Driving License (DL)
• Vehicle fitness certificate
• Permit (State/National)
• Bills, challans, and payment receipts
• Police report/FIR (if applicable)
• Final repair bill and invoice