Boiler insurance offers homeowners peace of mind by providing financial protection in case of boiler breakdowns and repairs.
A plumber can charge around £100 per hour, but to replace and install a new boiler could cost between £1,500 to £5,000 – so having insurance in place could provide a huge saving down the line.
When choosing boiler insurance, there are several factors to consider to ensure you get the best value for your money and the right coverage for your needs.
1. Value for money
One of the primary factors to consider when getting boiler insurance is the value for money it provides.
Compare different insurance providers and policies to find the one that offers the best balance between coverage and cost. Look for comprehensive policies that cover not only boiler breakdowns but also additional benefits such as annual servicing and parts replacement.
Some policies start at just £5 per month or others at around £100 per year, so depending on how much you use your boiler and its age, this could be something to weight up.
Consider the overall package and the level of protection it offers rather than just the price alone.
2. Coverage and benefits
When assessing boiler insurance options, carefully review the coverage and benefits provided by each policy. Consider factors such as cost of parts, labour and the level of coverage for boiler repairs in London.
Some policies may also include coverage for additional components such as radiators, pipework and controls. Look for policies that offer 24/7 emergency helplines and fast response times to ensure you can get assistance when you need it most.
We also recommend checking if the policy includes coverage for alternative accommodations in case your home becomes uninhabitable due to a boiler breakdown.
3. Exclusions and limitations
It’s crucial to understand the exclusions and limitations of the boiler insurance policy you are considering. Read the terms and conditions carefully to identify any circumstances or components that may not be covered.
Common exclusions include pre-existing faults, wear and tear and issues caused by inadequate maintenance.
Ensure you are aware of any limitations on the number of call-outs or the maximum claim amount allowed within a specific period. Being well-informed about the policy’s limitations will help you set realistic expectations and avoid surprises in the event of a claim.
4. Annual boiler service
An annual boiler service is a vital aspect of boiler maintenance and should be a key consideration when selecting boiler insurance. Regular servicing helps prevent breakdowns, improves boiler efficiency and ensures safe operation.
Many boiler insurance policies include an annual service as part of their coverage. This means that not only will you be protected in case of a breakdown, but you will also have the peace of mind knowing that your boiler is regularly maintained and operating at its best.
5. Customer reviews and reputation
Before making a decision, take the time to research the insurance provider’s reputation and read customer reviews.
Look for feedback regarding their responsiveness, customer service quality and claim settlement process. A reputable provider with positive customer reviews is more likely to provide a satisfactory experience and efficient resolution in case of a boiler breakdown.
Is boiler insurance worth it?
The value of boiler insurance ultimately depends on individual circumstances and preferences.
While some homeowners may find peace of mind in having comprehensive coverage and the convenience of annual servicing included, others may prefer to set aside funds for potential repairs and maintenance on their own.
Consider factors such as the age and condition of your boiler, your budget and your willingness to manage potential risks and costs. Assess the potential costs of repairs or replacements without insurance and compare them with the premium costs to make an informed decision.
When choosing boiler insurance, it is essential to consider the points above. Assess your individual needs, budget and risk tolerance to determine whether boiler insurance is worth it for you.
Remember that proper boiler maintenance, including regular servicing, is key to minimising breakdowns and ensuring the longevity of your heating system.