Emergency services are currently responding to the incident, in which in a lorry has come to rest on its side in a field after colliding with another vehicle.
Two persons are reported to be trapped and the Isle of Wight Fire and Rescue Service are on scene.
The road has been closed between the Hare and Hounds pub and Rowlands Lane and is likely to remain closed for around two hours.
Motoists are are advised to avoid the area.
One female casualty from each vehicle involved, a Suzuki 4×4 and a DAF lorry, have been placed onto spinal boards as a precaution.
The road remains closed and is likely to for some time with Bartletts Service Station on scene drawing up a plan on how to recover the lorry – belonging to A Frampton – from its current position.
UPDATE @ 16:00 – The road has reopened in both directions following the recovery of the overturned lorry.