Police were called to the scene on the B3327 St John’s Road between Whitely Bank and Wroxall at around midnight.
A silver Vauxhall Astra has overturned after hitting a speed limit sign at the side of the carriageway.
The road remains closed in both directions whilst recovery of the vehicle is arranged. Southern Vectis Route 3 buses are currently held up at the incident, however should resume a normal route shortly.
UPDATE @ 01:50 – The vehicle has been recovered by Bartletts Service Station and the road has reopened.