Is Boiler Insurance A Worthwhile Investment?
During this time of year, many people have gone to turn on their central heating
system for the first time in many months only to find that the whole system has shut down, or a small problem has suddenly become a big drain on their wallets to fix. Plumbing and boiler systems are one of the most likely things to wrong in a household at this time of year, and they are also one of the most expensive things to sort out when things go wrong, involving expensive house calls from a plumber and even more expensive replacement parts!The bad news for most homeowners is that most boiler problems aren't covered by home insurance, so you'll need to take out a separate policy if you want to make sure you don't get stuck with a large bill when things go wrong. Boiler insurance needn't be too expensive though, providing you know exactly what you're looking for and you don't get signed up to a deal that covers more than you actually require. Certain parts of a boiler system are more likely to go wrong than others, and the older your boiler is the more likely it is to break down, so it's important to balance these facts when choosing an insurance policy.
For example, if you've got a relatively new system that hasn't gone wrong before and has been through regular annual checks, you are at much less risk than a household that has a 10 year old boiler that hasn't had a check for 5 years, so why would you want to pay the same amount in monthly insurance? At the same time, if your whole heating system is outdated and constantly causing problems, it might make sense to get a more expensive full heating system policy rather than just insuring one part.
Don't forget that some people might not even need boiler insurance at all. If you live in any sort of social housing or you rent your home from a landlord, then you can breathe a sigh of relief, as it's actually the landlord who is responsible for anything that goes wrong with your heating system, boiler or otherwise. If it is your responsibility though, don't worry - there are so many different deals all competing with one another for your money that the market is very good for consumers right now.
When getting boiler insurance cover, don't forget that every policy will come with exceptions, which can range from anything from the amount of times you can call out an engineer on a yearly basis to the different situations that your insurer will consider an emergency. You may also find that if your boiler is over a certain age, getting a good deal on boiler insurance might be a problem. Generally, anything older than 15 years might be difficult to get insured, and you will likely save money in the longer term by getting a brand new boiler installed instead. Doing so is likely to cost a lot to begin with, but having a brand new heating system that's more energy efficient could save you a ton of money every year on electricity costs!
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