Farmtrac Tractor Insurance
Farmtrac tractors are built in India by the well-known Escorts Group for sale in Poland and India. Farmtrac is one of the three brands that are built by Escorts Agri. The two other brands of this company – Powertrack and Escort. Escorts Agri launched the Farmtrac brand in India in the year 1996 after losing the license of Ford/ New Holland. Farmtrac tractors are one of the highest-selling tractor brands in India. Read more
As per the Motor Vehicle Act, 1988, it is mandatory to get insurance for vehicles. So, having a Farmtrac insurance policy for commercial vehicles like tractors is compulsory.
Popular Farmtrac Models with Insurance Price
Farmtrac Model (2019 Registration)
Farmtrac Model Variant
Insured Declared Value (IDV)
Farmtrac Insurance Premium (Third-Party Insurance)
Tractor – Diesel
Tractor – Diesel
Disclaimer: The Farmtrac Insurance Price for various Commercial Vehicle models may vary as per the capacity of the engine, RTO, IDV, fuel type, registration year, etc.
Reasons to Buy Farmtrac Insurance Policy
Here are the reasons to buy a Farmtrac Insurance policy:
- The policy provides insurance coverage against damages and losses caused to Farmtrac commercial vehicles.
- It provides unlimited liability coverage in case of death or injury to a third party.
- Buying Farmtrac insurance online is simple and quick.
- The Farmtrac insurance claim settlement process is fast and hassle-free.
- The insurance policy offers indemnity cover for third-party property.
- Under this insurance policy, personal accident cover for the owner and/ or driver is offered.
- The Farmtrac insurance renewal process is quick and simple.
Types of Farmtrac Insurance Policy
Farmtrac Third-Party Insurance: As per the Motor Vehicle Act of India, it is mandatory to get at least third-party insurance for vehicles. Under a third-party insurance policy, the policyholder gets insurance coverage against losses and damages incurred to third-party property or person from the insured vehicle. However, there is no provision of insurance coverage for the insured vehicle in case of loss or damage.
Farmtrac Comprehensive Insurance: A comprehensive vehicle insurance policy provides insurance coverage for the insured vehicle and third-party both. Even though having a comprehensive insurance policy is not mandated by the law, but it is recommended to opt for this policy as it provides insurance coverage for own vehicle as well.
Inclusions of Farmtrac Insurance Policy
The inclusions of Farmtrac Insurance policy are as follows:
- Any damage or loss incurred to the insured vehicle because of:
- Riot, strike
- Malicious Act
- Terrorist Activity
- Self-ignition, fire explosion, lightning
- Accident incurred due to any other means
- Hailstorm, frost, inundation
- Flood, storm, typhoon, hurricane
- Third-party liability insurance that provides coverage against damages and losses incurred due to bodily injury or damage to a third-party person or property respectively.
- Personal accident cover for drivers and/or owners of the vehicle is also provided.
Additional Covers in Farmtrac Insurance Policy
Additional coverers are also as add-ons or rider benefits. These benefits can be added to a basic vehicle insurance policy by paying an additional premium. Some of the add-on covers provided with the Framtrac insurance policy are:
- Cover to Protect the Engine: This is one of the useful additional covers that one can include in his/her Framtrac Insurance policy to get the coverage for the engine and its other parts.
- Zero Depreciation Add-On: Commercial vehicles depreciate faster than normal private vehicles and so do their value. To avoid the deduction of depreciation at the time of claim, this Farmtrac Insurance add-on cover is used.
- No-claim Bonus Protection: An insured gets a 'No Claim Bonus' benefit for each claim-free year. So, whenever a policyholder makes even a single claim he/she may lose his/her ‘No claim Bonus’. Therefore, to retain No Claim Bonus or NCB, one can add this add-on cover in his/her Farmtrac Insurance policy.
Along with all these additional covers, there are many other rider benefits provided by various insurers of the commercial vehicle, these are – the return of invoice, roadside assistance, cover for non-electrical and electrical accessories, cover for the bi-fuel engine, etc.
Exclusions of Farmtrac Insurance Policy
The exclusions of a Farmtrac Insurance policy are as follows:
- Mechanical or electrical breakdown is not covered.
- Any kind of consequential losses is also not covered in Farmtrac Insurance policy.
- Any claims made due to losses or damages incurred to or by Farmtrack commercial vehicle driver who was driving it under the influence of alcohol.
- Losses or damages incurred to or by Farmtrac commercial vehicle by the driver who was driving it without a valid driving license.
- All the other exclusions of the policy as per its terms and conditions.
How to Buy Farmtrac Insurance Online
In this time of the internet and e-commerce, everything is available online and so does one can do with the insurance policy. To buy a Farmtrac insurance policy online, one has to follow the below-mentioned steps:
- Go to the commercial vehicle insurance page and click purchase commercial vehicle insurance.
- Provide all the required details like make and model of the Farmtrac Commercial Vehicle, its manufacturing details, type of insurance like comprehensive/third-party insurance, RTO information, claim details, etc.
- Soon after providing all the aforementioned details, an insured can select the quote from the list of insurers for Farmtrac commercial vehicle.
- After this, a policyholder has to select an insurance policy that meets his/her requirements and then make the payment online.
- The insurance policy is then e-mailed to the registered email id or one can download the Farmtrac Insurance policy as well.
How to Renew Farmtrac Insurance Online
The process to follow to Farmtrac Insurance renewal online are as follows:
One should submit the policy renewal form of Farmtrac Insurance with the following information. After which a representative of the insurance provider will get in touch:
- Policyholder’s name
- His/her email-id
- His/her landline number (If exists)
- His/her mobile number
- Model of Force Motors vehicle
- Farmtrac commercial vehicle’s registration city
- Whether the last Farmtrac Insurance policy was expired or not
- Year of registration
- Type of insurance policy:
- Purchase an insurance policy for a brand new Farmtrac commercial vehicle
- Renew an existing Farmtrac Insurance policy
- Renew an existing Farmtrac Insurance policy from a different insurance provider
Farmtrac Insurance Policy Claim Procedure
- To file a claim, one should have to inform the insurance provider at its toll-free number.
- For Farmtrac insurance cashless claim settlement, a policyholder has to fix an appointment with his/her insurance provider’s surveyor. After the survey, the Farmtrac commercial vehicle is taken to any of the network garages of the insurer for repair.
- The insurance provider has to give all the useful documents to the surveyor.
- The insurance company can confirm the liability only after the successful completion of the survey.
- If the policyholder opts for the cashless service of the insurer, the Farmtrac insurance provider will settle the claim directly with the network garage.
- However, if one opts for the reimbursement option, then he/she is required to settle the cost of the claim first by himself. Later, he/she may provide all the needed original bills along with the claim form to the policyholder for settling the claim.
Documents Required for Farmtrac Insurance Claims
- Claim form duly signed and filled
- Driving license’s copy
- Copy of the registration certificate
- Copy of FIR
- Estimate of the repair
- Load challan (for commercial vehicles only)
- Commercial vehicle’s permit
Framtrac Insurance Policy FAQs
Q: What is commercial vehicle insurance?Ans: A commercial vehicle insurance policy is used for getting the insurance of the vehicles that are used for business purposes. Under this policy, any loss or damage to a third-party person or property is covered. If you purchase a comprehensive commercial vehicle insurance policy, you get coverage for the insured vehicle as well.
Q: Do I need to buy different commercial vehicle insurance for different commercial vehicles?Ans: Yes, you should buy different commercial vehicle insurance policies for different commercial vehicles of your business.
Q: List the factors that define the cost of Farmtrac insurance policy?Ans: The following parameters decide the insurance cost of Farmtrac commercial vehicle:
- Vehicle’s fuel type
- Mode and type of the commercial vehicle
- Commercial vehicle’s age
- Place of registration of the commercial vehicle
- Insured Declared Value of the commercial vehicle
Q: I have personal vehicle insurance for my vehicle, however, do I need another insurance for a commercial vehicle in my business?Ans: If you are the owner of a business and you have vehicles that you are using in it, then the answer is yes. You must get the commercial vehicle insurance policy for each vehicle that is used in your business.
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