Aviva is launching one of the UK’s first standalone insurance products covering electric vehicle charging points to protect both installers and operators.
The product was developed in response to demand from brokers for a specialist all-risks policy, as electric vehicle charging points become increasingly common at motorway service stations, in public and private car parks, on garage forecourts and in on-street parking bays.
At the end of August, there were nearly 34,000 public charging points across the UK in more than 20,000 locations, a 34% increase on the August 2021 figure, according to data cited by Aviva.
The insurer is now offering Erection All Risks (EAR) and Operational All Risks (OAR) cover for electric vehicle chargers on a standalone basis.
The product is aimed at customers including contractors, car park operators, local authorities, asset managers and forecourt operators, with cover applicable for everything from a single charger to an entire network.
It will cover risks including fire, flooding, malicious damage, accidental/impact damage and breakdown.
Risk management assessments and inspections covering electrical integrity and safety are also offered through Aviva’s specialist partner, Bureau Veritas.
Ahmad Raja, Aviva’s UK regional manager for engineering, construction and renewable energy, said: “This is an exciting, fast-evolving area and it’s critical that insurance keeps pace. Brokers have been coming to us on behalf of their clients, asking for a standalone product specifically covering electric vehicle charging points.”
“We’re delighted we can now offer them just that, offering a high level of cover and customer support to give installers and operators the peace of mind they need as they push forward with technology which has the potential to transform all our lives.”
Image source: Canva
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