Emergency services are currently in attendance near to Lynn Bottom Tip after the vehicle left the carriageway before ploughing through a hedge.
Three occupants are said to be trapped inside the vehicle, with firefighters from Newport and East Cowes working to free the casualties.
Two ambulances and an ambulance officer are in attendance.
Police have closed the road in both directions at the junction of Combley Road and at the Robin Hill Roundabout.
Stag Lane Motors are now working to recover the vehicle from its position.
One fire appliance, an ambulance and an ambulance officer have left the scene.
The road remains closed.
UPDATE @ 12:10 – Briddlesford Road has reopened in both directions.