Preet Tractor Insurance
Preet Tractor, one of the popular agricultural tractors was launched by Preet Tractors Pvt Ltd. for Indian farmers. The tractor comes in different engine horsepower and multiple features. If you are planning to own a Preet tractor, you must also buy a Preet tractor insurance policy for your vehicle.Read more
Preet Tractor Insurance Overview
To provide excellent products to customers, Preet Tractors Private Ltd. has been launching Preet tractors ranging from 25 HP to up to 100 HP engines since 2002. These tractors with their high-performance capacity can be used to carry out different types of agricultural work like farming, tilling, harvesting and more.
With the help of a Preet tractor insurance policy, you can protect your tractor against damages arising out of unforeseen events like a road accident, fire, theft, natural calamities, etc. Moreover, you can also cover your tractor against damages sustained by third parties.
Popular Preet Tractor Models With Insurance Price
Preet Tractor Models
Preet Tractor Variant*
Preet Tractor Insurance Price*
(Third Party Liability Insurance)
Disclaimer*: The Preet tractor insurance price for different variants depends on factors like coverage opted, voluntary deductibles, NCB, add-on covers, etc.
Reasons to Buy Preet Tractor Insurance Policy
Here are a few reasons why you should purchase a Preet tractor insurance policy:
- Mandated by Law: Purchasing a commercial vehicle insurance policy in India is mandatory as per the Motor Vehicles Act, 1988. Thus, it is a legal requirement to ply on the roads of India.
- Own Damage Cover: By purchasing a tractor insurance policy, you can also cover your vehicle against your own damages arising out of accidents, calamities, theft, etc.
- Additional Covers: You can also purchase additional covers to cover risks that are not covered under a standard commercial vehicle insurance policy. For instance, zero dep cover for covering the depreciation borne by your tractor.
- Simple Purchase Process: Purchasing a Preet tractor insurance policy online is also a very simple process and can be done in a few minutes.
Types of Preet Tractor Insurance Policy
The two major types of Preet tractor insurance policies are:
Preet Tractor Third Party Liability Insurance Policy
Under a third-party liability tractor insurance policy, the insurer compensates the policyholder against any third-party damages arising out of the insured vehicle. Contingencies like third-party death, injuries, and damage to third-party property are covered under this policy. A liability-only commercial vehicle policy is mandatory under the motor laws and does not cover damages to the insured vehicle.
Preet Tractor Comprehensive Insurance Policy
Under a comprehensive commercial vehicle insurance policy, a policyholder will be compensated against any damage sustained by the insured vehicle arising due to events like earthquakes, accidents, fire, theft, etc. This policy also provides compensation against damages arising out of third-party liabilities. Furthermore, its coverage can be enhanced by purchasing additional covers at an extra premium amount.
Inclusions of Preet Tractor Insurance
A Preet tractor insurance policy offers coverage against the following damages:
- Damages arising out of natural disasters like cyclones, hurricanes, floods, landslides, etc
- Losses to the insured tractor due to manmade disasters like terrorist acts, riots, strikes, etc.
- Damages sustained by the insured vehicle due to fire, and self-ignition.
- Losses arising out of housebreaking, theft, burglary, etc.
- Damages sustained by the third party like death, injury, and property damage.
- Damages are caused to the insured tractor when it's en route via water, air, rail, elevator, etc.
- Any damage arising out of external means like a road accident.
Additional Covers Under Preet Tractor Insurance
The additional covers offered under the Preet tractor insurance policy include:
- Zero Depreciation Cover
- NCB Retention Cover
- IMT 23 Cover
- Legal Liability Cover
- Engine Protect Cover
- Roadside Assistance Cover
Exclusions of Preet Tractor Insurance
There are certain damages that are not covered under a Preet tractor insurance policy. These are:
- Damages to the insured vehicle when the driver was intoxicated.
- Damages arising out of the mechanical and electrical breakdown of the insured tractor
- Damages to the insured tractor when the driver was not carrying a driving license
- Losses arising out of any contractual liability
- Any damage sustained by the insured vehicle when it was being driven outside the specified geographical location
- Damages to the insured tractor when it was being used for other purposes than being commercially used
How to Buy Preet Tractor Insurance Online?
The buying process of a Preet tractor insurance policy is simple. Visit Policybazaar.com and follow these steps:
- Go to the 'Commercial Vehicle Insurance' page from the 'Insurance Products' menu on the main page
- Mention your contact details in the given form
- Select the type of commercial vehicle
- Choose your vehicle's manufacturer, variant, and model
- Select vehicle RTO and its registration year
- From the mentioned Preet Tractor Insurance plans, choose the desired plan
- Choose the desired add-ons as well
- Fill in the given proposal form and proceed with premium payment
- Pay the commercial vehicle insurance premium to successfully purchase your policy
- Once you have made the payment, your Preet tractor insurance policy papers will be mailed to you.
How to Renew Preet Tractor Insurance?
For an easy Preet tractor insurance policy renewal, follow the below-mentioned steps:
- Visit Policybazaar.com and navigate to the 'Commercial Vehicle Insurance' page
- Fill out the given form and proceed forward
- Enter the details of the Preet tractor such as the tractor's manufacturer, variant, model, RTO, etc.
- Select policy expiry date and previous claim details
- Select the desired Preet tractor insurance renewal plan and preferred additional covers
- Fill in the given form with the vehicle's info and other details
- Proceed with 'Summary and Payment'
- Once you have successfully paid the premium amount, your Preet tractor insurance will be renewed. Your policy renewal papers will be mailed to you.
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Claim Procedure Under Preet Tractor Insurance
To raise a claim under the Preet tractor insurance policy, follow these steps:
- Inform the insurance company about the damages to the insured vehicle in the next 48 hours of the incident. Upon intimation, the insurer will register a claim.
- A surveyor will be sent by the insurance company to evaluate the extent of damages sustained by the insured tractor.
- You may be required to present certain documents for the claim to be successfully processed. Keep these documents ready with you.
- The insured vehicle will then be sent for repairs in the authorised network garage and the insurer will pay the claim amount directly to the network garage.
- If you have got the repairs done in a non-network garage, the insurer will reimburse the claim amount to you after the repairs.
Documents Required for Claim Under Preet Tractor Insurance
Make sure to keep these documents handy while making a claim under a Preet tractor insurance policy:
- A copy of the Registration Certificate
- A copy of the Fitness Certificate
- A copy of the driving license
- Tractor insurance policy documents
- A copy of the Police FIR
- Repair estimates and bills
Ans. Yes. You can compare multiple Preet tractor insurance plans on Policybazaar.com and choose the one that fits your budget.
Ans. No. You will be required to purchase a separate commercial vehicle insurance policy for each of your Preet tractors.
Ans. No, you will not require any document to renew your Preet tractor insurance policy from Policybazaar.com.
Ans. The Insured Declared Value or IDV of a vehicle is the current market value of a vehicle that you receive during the time of claim settlement in case of theft or loss. An IDV is calculated by using this formula:
IDV: (The market price of the vehicle & depreciation amount) + (Cost of accessories - the depreciation amount of these accessories)
Ans. You can reduce the premium of your Preet tractor insurance by following these tips:
- Installing anti-theft devices
- Saving your No Claim Bonus reward
- Comparing policies before purchasing
- Avoiding unnecessary add-ons
- Opting for voluntary deductibles
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