Electric vehicle owners can now have peace of mind when charging their vehicles as one of the nation's biggest energy providers has launched a "first-of-its-kind" EV charger insurance.
OVO has introduced its "first-in-market" EV Charger Cover which is available to electric car owners who have the ability to charge at home.
The cover ensures that customers are protected if something goes wrong, with OVO guaranteeing a fast response to allow homeowners to get back on the road as soon as possible.
The offer is available to anyone with a home EV charger whether they are an OVO customer or not, with drivers being given 12 months for free if they take part.
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Drivers could save hundreds of pounds a year by charging their EVs at home
GETTYThe cost of charging at home is far lower than charging in public, with average costs of less than 2p per mile with OVO's Charge Anytime tariff.
On average, the initial cost of installing an EV charger is around £1,000, although experts argue the cost benefits are clear, with annual savings worth £550 and an average lifespan of 10 to 15 years.
OVO has highlighted that the average warranty offers limited protection when there is a problem with the chargers, including in the event of accidental damage, vandalism or theft.
The OVO EV Charger Cover is priced at £3.50 per month (with £30) excess or £6 per month, and will help motorists get advice, repairs or even replacements if something goes wrong.
If a charger is under 10 years old and beyond repair, they will provide a replacement up to a limit of £2,000, while people with older chargers can receive £2,000 towards repairs or contribution towards a replacement.
Alex Thwaites, OVO's director of electric vehicles, said: "Our standalone EV Charger Cover means that home charge point owners - not just OVO customers - can access affordable protection and get help fast if anything goes wrong.
"We're launching with half price cover for a year for all, or 12 months free for customers with Charge Anytime or an OVO-installed EV charger.
"It's one of the many ways that we are helping our customers to stay on the road to a greener future."
Motorists who make use of the offer will receive one year of customers using Charge Anytime or an OVO-installed charger to power their EV from home.
Zapmap data suggests that there are around 850,000 EV charging devices around the UK at homes or workplaces - more than 10 times the amount of public charging points.
While the Government aims to have 300,000 chargers installed by the end of the decade, the majority of charging is currently done at homes or workplaces.
EV owners who are able to charge at home or at work can also benefit from far lower prices than those relying on the public network thanks to lower VAT rates.
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There are estimated to be around 850,000 chargers at homes and workplaces across the UK
GETTYDrivers pay a VAT rate of just five per cent when charging at home, compared to a 20 per cent rate when they use a public device, which has prompted calls from experts for new rules to be introduced.
Ahead of the Spring Budget next month, campaigners have been calling on the Chancellor and the Treasury to consider cutting the rate of VAT on public chargers to incentivise more drivers to switch to an EV and make use of the infrastructure.
