The incident happened at around 16:50 at the bridge near to the Ponda Rosa restaurant on Ashey Road.
Police have attended the scene and have now moved the two cars involved, a Vauxhall Corsa and a VW Polo, which were partially blocking the carriageway for 30 minutes.
Paramedics from the Isle of Wight Ambulance Service arrived on the scene at 17:20 to assess a female driver of one of the vehicles, who was complaining of neck pain.
Traffic is now freely flowing in both directions.
Police and paramedics were called to the scene on the A3056 at the junction of Blackwater Hollow just before 16:45.
Island Echo understand there have been no serious injuries.