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ICICI Lombard Rural Insurance |
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Tractor Insurance
Tractors are one of the most precious assets of the farmers. ICICI Lombard´s comprehensive package policy for tractors covers not just Own Damage but also Third Party Liability and Personal Accident.
Policy Coverage
Loss of or Damage to the Vehicle Insured (Own Damage)
The Company will indemnify the insured against loss or damage to the vehicle insured against following:
• Fire, Explosion, Self ignition or Lightning
• Burglary, Housebreaking, Theft, Riot and Strike
• . Earthquake (fire and shock damage), Flood, Typhoon, Hurricane, Storm, Tempest
• Inundation, Cyclone, Hailstorm, Frost
• Accidental external means
• Malicious acts
• Terrorist activity
• Landslide, Rockslide
• Whilst in transit by road, rail, inland waterway, lift, elevator or air
Subject to a deduction for depreciation at the rates mentioned below in respect of parts replaced:
• For all rubber/nylon/plastic parts, tyres, tubes, batteries and air bags - 50%
• For fibre glass components - 30%
• For all parts made of glass - Nil
• Rate of depreciation for all other parts including wooden parts will be as per the schedule.
In the event of the vehicle being disabled by reason of loss or damage covered under this policy, the Company will bear the reasonable cost of protection and removal to the nearest repairer and re-delivery to the insured not exceeding Rs.2500/- for commercial vehicles in respect of any one accident.
Liability to Third Parties
The Company will indemnify the insured in the event of an accident caused by or arising out of the use of the vehicle against all sums including claimant's cost and expenses, which the insured shall become legally liable to pay in respect of:
• Death of or bodily injury to any person caused by or arising out of the use (including the loading and/or unloading) of the vehicle.
• Damage to property caused by the use (including the loading and/or unloading) of the vehicle.
Personal Accident Cover for Owner-Driver
The Company undertakes to pay compensation as per the following scale for bodily injury/ death sustained by the owner-driver of the vehicle in direct connection with the vehicle insured or whilst mounting into/dismounting from or traveling in the insured vehicle as a co-driver, caused by violent accidental external and visible means which independent of any other cause shall within six calendar months of such injury result in:
• Death - 100%
• Loss of two limbs or sight of two eyes or one limb and sight of one eye- 100%
• Loss of one limb or sight of one eye - 50%
• Permanent total disablement from injuries other than named above - 100%
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