PhonePe Launches New Vehicle Insurance For Two-Wheelers & Four-Wheelers

National, March 25th, 2025: PhonePe has announced the launch of its “new vehicle” insurance offering for two-wheelers and four-wheelers. This launch aims to provide cost-effective online alternatives for all new vehicle buyers as compared to conventional dealership insurance plans. With this launch, users can now compare policies from multiple insurers and make the purchase online on the PhonePe app.

Vehicle buyers often face challenges such as inflated premiums, limited choices, and biased recommendations with dealership insurance. However, with this launch, PhonePe is collaborating with leading insurers to offer a trusted and competitive insurance experience to users. Key highlights of the plan include:

• Savings of up to ₹4,000 on two-wheeler insurance and up to ₹40,000 on four-wheeler insurance as compared to dealership prices
• Lowest price on two-wheeler insurance with Own Damage Cover starting at ₹1, only on the PhonePe app
• 100% digital insurance-buying experience with zero paperwork
• No large dealer margin and no hidden fees

Commenting on the launch, Vishal Gupta, CEO at PhonePe Insurance Broking Services, said, “In our commitment towards making insurance accessible and affordable for everyone, we are pleased to launch our latest “new vehicle” insurance offering for all prospective two-wheeler and four-wheeler owners. 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. With this launch, we hope to transform the way consumers purchase insurance for their new vehicles.”

Here’s how users can avail this on the PhonePe app:

Step 1:

First, navigate to the Insurance section on the PhonePe app, and select Car Insurance from the homepage.

Step 2:

Tap on the Buy New Car widget.

Step 3:

Click on Check Plans to explore available options.

Step 4:

Enter your vehicle details to proceed.

Step 5:

Fill in your RTO details for registration.

Step 6:

Browse and compare plans from top insurers.

Step 7:

Customise your policy by selecting suitable add-ons and choose the plan that best fits your needs.

Step 8:

Tap Buy New Plan for policy issuance.

About PhonePe Group:

PhonePe Private Limited is one of India’s leading fintech companies. Headquartered in India, its flagship product, the PhonePe digital payments app, was launched in Aug 2016. As of March 2025, PhonePe has over 60 Crore (600 Million) registered users and a digital payments acceptance network spread across over 4 Crore (40+ million) merchants. PhonePe also processes over 33 Crore (330+ Million) transactions daily with an Annualized Total Payment Value (TPV) of over INR 150 lakh crore.

The PhonePe Group’s portfolio of businesses includes the distribution of financial products (Insurance, Lending, and Wealth) as well as new consumer tech businesses (Pincode – hyperlocal e-commerce and Indus AppStore – Localized App Store for the Android ecosystem) in India, which are aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

For more details, contact: [email protected]