PhonePe has announced the launch of its new home insurance product line, offering homeowners a simple, affordable, and fully digital solution to protect their homes. Premiums start as low as ₹181 (including GST), with coverage ranging from ₹10 lakhs to ₹12.5 crore, allowing users to insure both their home structure and contents.
Unlike most home insurance plans, which are often tied to home loans and involve higher costs and cumbersome paperwork, PhonePe aims to provide flexible, transparent, and hassle-free protection. Users can safeguard their homes and belongings—including furniture, appliances, and valuables—against risks such as fire, floods, earthquakes, riots, and theft, all within the PhonePe app.
Vishal Gupta, CEO of PhonePe Insurance Broking Services, commented on the launch:
“We believe India’s homeownership aspirations are larger than ever, and PhonePe is eager to be a part of that journey. We are committed to making insurance accessible and affordable for every Indian. The launch of our new home insurance offering empowers homeowners to protect their most cherished asset with complete ease. Our trusted solution represents the future of protection—comprehensive, affordable, and digitally accessible in minutes. We’ve built this to grow alongside India’s ambitions, allowing customers to explore and choose the right policy seamlessly online. We believe this will transform how consumers secure peace of mind for their homes while eliminating financial barriers.”
With this launch, PhonePe positions itself as a convenient, customer-centric solution for home protection, catering to both loan-holders and independent homeowners looking for easy, digital insurance options.
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