PhonePe, a leading digital payments and financial services company, has launched its ‘new vehicle’ insurance for two-wheelers and four-wheelers, providing a cost-effective online alternative for new vehicle buyers. The launch aims to simplify the insurance-buying process by allowing users to compare policies from multiple insurers and make purchases online through the PhonePe app.
Traditionally, vehicle buyers have relied on conventional dealership insurance plans, often facing challenges such as inflated premiums, limited choices, and biased recommendations. PhonePe’s new offering addresses these issues by collaborating with leading insurers to provide a trusted and competitive insurance experience.
Key Highlights of PhonePe New Vehicle Insurance:
- Buyers can save up to Rs 4,000 on two-wheeler insurance and Rs 40,000 on four-wheeler insurance compared to dealership prices.
- Lowest price on two-wheeler insurance with Own Damage Cover starting at just Rs 1.
- 100% digital insurance-buying experience with zero paperwork.
- No large dealer margins or hidden fees.
To avail of this insurance using the PhonePe app, users can follow these steps:
- Open the PhonePe app and navigate to the Insurance section.
- Select ‘Car Insurance’ from the homepage.
- Tap on the ‘Buy New Car’ widget.
- Explore available plans by clicking on ‘Check Plans’.
- Provide vehicle and RTO registration details.
- Browse and compare plans from top insurers.
- Customize the policy plan by selecting add-ons as needed.
- Complete the purchase.
According to Vishal Gupta, CEO at PhonePe Insurance Broking Services, “This coverage aims to facilitate users in making informed decisions by comparing policy options and pricing via a seamless digital experience. At PhonePe, our goal is to simplify insurance-buying and make the process transparent and hassle-free for users.”
