According to Aviva, it is responding to demand from brokers for a specialist all risk policy.
The insurer is now offering Erection All Risks and Operational All Risks cover for EV 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 damager and breakdown.
Risk management assessments and inspections covering electrical integrity and safety are also offered through Aviva’s specialist partner Bureau Veritas.
The provider listed that there are nearly 34,000 public charging points at more than 20,000 locations in the UK and the government has set a target of at least 300,000 charging points by 2030.
Benefits
Ahmad Raja, Aviva’s UK regional manager, engineering, construction, and renewable energy, commented: “More and more people are discovering the environmental and economic benefits of driving an electric vehicle and the number on our roads is growing daily.
“Of course, EVs need charging points and with government targets and investment in place to encourage this, we are really seeing this sector take off.
“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 EV charging points.”
Recent EV products
In April this year, Zurich UK added new cover and wording to its small fleet policy for firms with between two and 20 electric vehicles.
In the same month, the British Insurance Brokers’ Association approved an extension to its exclusive GAP scheme with Jackson Lee Underwriting to include recently launched electric vehicle early termination cover.
Earlier this year, Recharge Rescue developed a roadside assistance insurance policy, which can be sold via brokers, to help EV drivers if they run out of power.
