CORRECTING and REPLACING HomeServe and CenterPoint Energy Launch New Coverage for Electric Vehicle Home Charging Protection Plan

March 25, 2021

NORWALK, Conn.–(BUSINESS WIRE)–Please replace the release dated March 24, 2021 with the following corrected version due to multiple revisions.

The updated release reads:

HOMESERVE AND CENTERPOINT ENERGY LAUNCH NEW COVERAGE FOR ELECTRIC VEHICLE HOME CHARGING PROTECTION PLAN

HomeServe and CenterPoint Energy are working together to launch an industry first product now available to CenterPoint’s Texas customers. Building on current repair service plan from HomeServe that covers problems with CenterPoint customers’ interior electric wiring, the new offering will allow residential customers with Electric Vehicles (EV) to add enhancement coverage for their home EV charging systems.

Starting at just $8.99 per month, the new no-deductible coverage will provide up to $500 in reimbursement for a Level 2 home EV charger that stops working due to normal wear and tear. The additional EV charger coverage is on top of the core Interior Electric plan elements, which includes up to $2,500 of annual coverage for repair or replacement of the high voltage wiring including switches, outlets and disconnect boxes that are damaged due to normal wear and tear.

“Americans are increasingly buying Electric Vehicles with the market expected to grow by over 20% each year between 2019 and 2030*. As more and more Americans bring these cars home, they are also faced with the challenge of ensuring their cars can easily be charged while parked in their driveways and garages,” said Tom Rusin, Global CEO of HomeServe Membership. “HomeServe is excited to be among the first to offer this new coverage that gives peace of mind to EV owners, ensuring quick repair or replacement of their home charging station if it breaks down.”

A HomeServe 2020 Electric Vehicle Charger Study found that 75% of EV owners use a Level 2 charger for charging at home and that almost three-quarters of prospective EV buyers (74%) are worried that their charger could break or malfunction. The survey also found that almost one-third of EV owners (29%) expect their utility to help with their home charging needs, and an almost unanimous number of respondents (97%) who use a Level 2 charger at home said they would be interested in an offer from their electric utility that included EV charger installation.

“Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region – Global Forecast to 2030“, Electric Vehicle Market, June 2019

About HomeServe

HomeServe USA Corp. (HomeServe) is a leading provider of home repair solutions serving more than 4.5 million customers across the US and Canada under the HomeServe, Home Emergency Insurance Solutions, Service Line Warranties of America (SLWA), Service Line Warranties of Canada (SLWC) names, and through locally branded HVAC companies located in major metro areas. Since 2003, HomeServe has been protecting homeowners against the expense and inconvenience of water, sewer, electrical, HVAC and other home repair emergencies by providing affordable repair coverage, installations and quality local service.

As an A+ rated Better Business Bureau Accredited Business, HomeServe is dedicated to being a customer-focused company supplying best-in-class repair plans and other services to consumers directly and through over 1,000 leading municipal and utility partners.

HomeServe has teamed up with executive producer, host, and best-selling author Mike Rowe, best known as the creator and host of the hit TV series Dirty Jobs, to work together to provide homeowners expert advice on maintaining, enhancing and protecting their homes. For more information about HomeServe, a Great Place To Work certified winner and recipient of thirty 2020 Stevie Awards for Sales & Customer Service, or to learn more about HomeServe’s affordable repair plans, please go to www.homeserve.com. Connect with HomeServe on Facebook and Twitter @HomeServeUSA. For news and information follow on Twitter @HomeServeUSNews.