How to buy insurance for your shop on PhonePe
What's the story
PhonePe, one of India's leading digital payments platforms, has made buying insurance online very easy. Customers can choose from a variety of categories, including bike, car, health, life, and so on. Interestingly, you can also puchase an insurance policy for your shop on the platform. Let us take a look at how to do so.
Process
Step-by-step guide to buying insurance
To buy a shop insurance policy on PhonePe, users have to select 'Insurance' on the app's home screen, and then click on the 'See all' option. Now, tap 'Shop Insurance,' enter your pin code, and press 'Continue' to view quotes. Next, choose your preferred coverage amount, enter the necessary details, and select shop category. Finally, tap 'Proceed to Pay.'
Rule
Start date of policy
PhonePe will issue the policy one day after the payment is made. However, it will take 15 days for the coverage to begin. For example, if you buy policy on December 1, it will be issued on December 2, and coverage will start from December 17 (15 days after policy start date).