Digital payments platform PhonePe has launched a home insurance product that allows users to protect their houses and belongings against more than 20 risks, including fire, floods, earthquakes, riots and theft.
The company said premiums start as low as ₹181 per year including GST, with coverage options ranging from ₹10 lakh to ₹12.5 crore. The plans cover both the physical structure of the house and its contents such as furniture, appliances and valuables.
The product is available to homeowners with or without existing home loans. PhonePe confirmed that the policies will be accepted by all banks and lending institutions for home loan requirements. The issuance process is fully digital, requiring no paperwork or property inspection.
Key highlights of the new home insurance plans include annual premiums starting from ₹181, coverage of up to ₹12.5 crore, protection against over 20 risks including natural disasters and theft, availability regardless of home loan status, and instant digital policy issuance through the app.
Vishal Gupta, CEO of PhonePe Insurance Broking Services, said the offering has been designed to make home insurance simple, affordable and accessible. “Our goal is to bring more people under the safety net of insurance by offering plans that are easy to buy and suit different needs,” he said.
PhonePe users can purchase the insurance through the Insurance section of the app by entering basic details about their property and choosing the desired coverage level.
As of July 2025, PhonePe has over 640 million registered users and a merchant network of more than 45 million. Alongside payments, the platform also distributes a wide range of financial products including insurance, lending and wealth management.
With the launch of its home insurance plans, PhonePe aims to expand its presence in the fast growing digital insurance space and provide customers with financial protection against unexpected risks.
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