Indian fintech company PhonePe has introduced a new range of vehicle insurance products for both two-wheelers and four-wheelers, offering significant savings for customers.
The company claims that, under its new plan, customers can save up to ₹4,000 ($46.68) on two-wheeler insurance and as much as ₹40,000 ($466.77) on four-wheeler insurance compared to traditional dealership prices.
Additionally, PhonePe is offering an Own Damage Cover starting at just ₹1 ($0.012), available exclusively through its app.
The entire insurance process is fully digital, with no paperwork required. PhonePe has also emphasized that its plans come with no large dealer margins and no hidden fees, ensuring a transparent and straightforward customer experience.
As of March 26, 2025, the exchange rate stands at US$1 = ₹85.70.
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