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Digital payment app PhonePe has made a great bang. The app has launched a very cheap insurance plan to protect the house from damage due to increasing natural events and accidents. Its price will be just 50 paise per day, and in this plan, not only the house but all the valuables will also be insured. Under the insurance plans, cover will be given on about 20 types of risks, which will cost from Rs 10 lakh to Rs 12.5 crore.

According to the statement issued by digital payment app PhonePe, the cost of this premium will start from 181 annually, and it will provide cover from Rs 10 lakh to Rs 12.5 crore. GST is also included in this premium, which will cost only 50 paise per day. This insurance of PhonePe protects the house from 20 types of risks, including fire, flood, earthquake, riot, and theft. This insurance will cover the house as well as furniture, appliances, and other valuables.

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What is special about the insurance

PhonePe said that even those homeowners who have already taken a home loan can take advantage of this insurance. In fact, in most home loans, banks also cover the insurance of the house. PhonePe claims that this policy is covered by all the banks from which you apply for a home loan. This insurance is completely digital, and neither any kind of paperwork nor is the property inspected.

The customer can choose their own coverage.

Vishal Gupta, CEO of PhonePe Broking Services, says that its purpose is to make home insurance more affordable and accessible to more customers. PhonePe users can choose a plan by going to the insurance section of the app. For this, you have to enter the basic details of the property and choose the coverage of your choice. By July 2025, PhonePe had around 64 crore registered users, while a 45 crore merchant network had been created from it. The company also provides services like loans and wealth management.

Special features of the insurance plan

Its premium starts from Rs 181 per annum.

It provides cover from Rs 10 lakh to Rs 12.5 crore.

This insurance coverage is available with and without a home loan.

Under this, the risk of more than 20 natural disasters and theft is covered.

This insurance can be purchased in minutes through the app.

It also provides coverage of TV, fridge, AC, sofa, bed, etc., along with the house.

Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.