- There are nearly 34,000 public charging points at more than 20,000 locations in the UK
- The government has set a target of at least 300,000 charging points by 2030
- Aviva’s new product is aimed at installers and operators
Insurance specialist Aviva is targeting forecourt operators as it launches what it claims is one of the UK’s first standalone insurance products covering electric vehicle charging points.
The company says it is responding to demand from brokers for a specialist all-risks policy for both installers and operators.
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 EV charger mapping company Zap Map. Alongside these figures there are an estimated 940,000 plug-in cars registered in the UK.
Aviva is now offering Erection All Risks (EAR) and Operational All Risks (OAR) cover for EV chargers on a standalone basis. The product is aimed at customers including forecourt operators, contractors, car park operators, local authorities and asset managers, 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, engineering, construction and renewable energy, said: “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.
“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.”