An insurance policy is among a tractor’s most crucial documents. A type of commercial vehicle insurance policy known as “tractor insurance” is designed to shield your farm tractor from unanticipated losses and damages that might result from mishaps, collisions, fires, natural disasters, or even theft. In India, there are millions of tractors. In India, it is mandatory for all tractors to have tractor insurance.
Depending on the kind of tractor, engine size, and company you choose to insure with, there are several different types of tractor insurance. Insurance is a legal agreement between the insured and the insurer. In exchange for a premium, an insurer is required under this arrangement to provide the insured with a lump sum payment in the event of loss, theft, or tragedy. If an accident isn’t mentioned in the contract, the insurer isn’t required to compensate for it.
