Fintech Major Phonepe announces its latest line of home insurance products designed to provide homeowners with a simple and affordable solution to protect their homes.
With premiums as low as Rs 181 (including GST) ranging from Rs 10 lakh to Rs 1.25 crore, buyers can offer the convenience of end-to-end digital journeys directly on their mobile apps to ensure the structure and content of their homes.
Vishal Gupta, CEO of Phonepe Insurance Broking Services, said: “We believe that India’s desire for housing is greater than ever, and PhonePe aspires to be a part of the journey and backed by its expertise. We are committed to providing insurance and affordable insurance to every Indian.”
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“Our new home insurance launch is a crucial step in this direction, giving homeowners the ability to protect their most precious assets completely and easily. Our trusted solution represents the future of protection – comprehensive and affordable coverage, accessible minutes by phone Pepe app, accessed through the Phonepe App. We can build a business attitude in line with India’s ambitions that can make their ambitions and a stable attitude explored, which allows them to maintain a stable way of homes while eliminating financial barriers,” Gupta added.
While most home insurance plans are bundled into home loans, this often has limited flexibility and additional paperwork burden at higher costs.
Phonepe said it aims to bridge the gap by providing homeowners with worry-free, transparent and accessible solutions, whether they use home loans or not.
Users can protect their home and its belongings (furniture, appliances, valuables, etc.) to prevent major risks such as fires, floods, earthquakes, riots and theft. This provides homeowners with a trusted and competitive insurance experience, all in a few faucets in the Phonepe app.
Key points of the plan include premiums of only Rs 181 per year (including GST); flexible coverage ranging from Rs 10 lakh to Rs 1.25 crore; suitable for every home and budget; covers over 20 risks such as fires, floods, earthquakes, riots and theft; all homeowners with or without existing loans to choose from; all banks and lenders accept home loan requirements; and instant release of zero paperwork or inspections.
