Slowly and steadily, Amazon is building complete fintech products for customers in India. This time around, the e-commerce giant has forayed into the vehicle insurance space. Amazon Pay, which is Amazon’s online payments processing service in partnership with Acko General Insurance Ltd, launches car and bike insurance or auto insurance. Now you could take any two and four-wheeler insurance policies directly from Amazon via Amazon Pay.
According to Amazon, you could now purchase car and bike insurance in less than two minutes with no paperwork and from the comfort of your home. The best part, if you are an Amazon Prime member then you could get extra benefits including, additional discounts of up to Rs 999 on insurance policies.
Other benefits of taking a car or bike insurance from Amazon include hassle-free claims with zero paperwork, one-hour pick-up, three-day assured claim servicing and a year’s repair warranty in select cities. For low-value claims, there is also an option for instant cash settlements.
How to buy Auto Insurance from Amazon Pay
Well, the whole process of taking auto insurance for your car or bike from Amazon / Amazon Pay is simple, effortless and can be done in a few easy steps. You can get an insurance quote by providing only basic vehicle details.
- Open your Amazon App or mobile website (Android and iOS) and head towards Amazon Pay section. You could also search for auto insurance in the search bar.
- They’re under “Insurances”, you could now find “Car insurance” and “Bike insurance”.
- Choose one of them based on your requirement and then enter your vehicle registration number or select the car/bike model. You only need to provide some basic details of the vehicle like registration year, your current pin code, current insurance policy status, claims in your existing insurance policy and details of NCB (No claim bonus).
- After Amazon Pay/Acko evaluates the details you have provided, you will get a quote for your car or bike insurance instantly.
- Additionally, you can select add-ons like zero-depreciation, engine protection, personal accident cover, and more.
- Once, you are happy with the insurance premium quote, you can pay the insurance from Amazon Pay balance, UPI or any Debit or Credit cards.
- Once the payment is confirmed, your new car or bike insurance policy will be delivered directly to your email inbox in less than 2-minutes. You could also take a copy/print out of the same from Amazon Order page.
Amazon Prime members can avail discounts on most of this car and bike insurance plans. You would get flat Rs 249 discount on taking insurance plans with a premium amount less than Rs 5000. There is a flat Rs 499 discount if the insurance premium quote is in between Rs 5000 and Rs 10,000. Similarly, you would get Rs 749 discount on all insurance premium amounts between Rs 10,001 to Rs 15,000. Whereas, you would get a maximum discount of Rs 999 when the insurance premium quote is more than Rs 15,000.
As always, please read carefully the terms and conditions before purchasing any insurance plan.