Tractor insurance online|buy insurance for new and used tractor
21 Jul, 2020
All possible businesses are prone to risk. If you own any asset then to be on a safer side, you must have insurance of that particular asset. Insurance helps you financially to cover any type of losses and damages. This is mandatory as per the Motor Vehicle Act.
What situations tractor insurance covers?
In case you own a tractor also, insurance is very essential. It prevents any kind of financial instability that may arise due to an accident, theft, fire, natural disaster, personal accident, third party losses, etc.
It is well said that " prevention is better than cure" the insurance policy follows the quoted words to a great extent. It also prevents you from undergoing extreme losses that happen due to any of the above-mentioned reasons.
Situations excluded from tractor insurance
If your insurance policy covers damages to a third party loss, then you will not get anything for your own losses.
If in the investigation, it is found that a particular loss occurs due to your personal negligence, then also you will be deployed of any financial help.
If the driver of your tractor founds to be drunk and did not have a license.
The information about different tractor insurance companies (that provide tractor insurance in India) is discussed below:-
Tata AIG insurance: The company provides coverage for many other rural assets usually automobiles, including the tractor.
ICICI Motor insurance: Like any other insurance company, ICICI also states the exclusions and inclusions of its policy. It covers a different set of system reporting various losses cover.
Reliance tractor insurance: The company sets a limit for different kind of vehicles
based on its number of wheels etc.
Royal Sundaram tractor insurance: It is the first private company that started non- life insurance. It mainly focuses on rural and social sectors. It provides the advantage of a special farmers package shield that has many norms that protect farmers.
Bajaj Allianz tractor insurance: It is also a well-known insurance company that provides financial security through insurance as per its chosen policy.
Oriental tractor insurance: The company offers different policies that give distinct benefits.
Cholamandal tractor insurance: Its commercial vehicle segment mainly concerned with motor insurance that also includes tractor insurance.
The above mentioned is the list of some of the tractor insurance companies. Before finalizing any insurance you must read the conditions of that particular insurance cautiously.
Tractor insurance price
The price of your tractor insurance depends on the cost of your tractor plus its valuation at the moment of insurance. Therefore it varies tractor by tractor. Moreover, valuation also depends on the time duration and ownership too. The more the time period lesser will be the insurance amount. Also as the ownership changes more, the amount of insurance tends to decrease.
The above mentioned is the detailed description of tractor insurance in India. For further details, you can contact TractorGyan.
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