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Should I get boiler insurance?

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What would you do if it was the middle of winter and your boiler packed in? The cold winter temperatures mean it’s really important that you are able to get it back up and running as soon as possible.

The best way to do this is with boiler insurance. However, before you splash out on cover, it’s worth considering a few things, such as who is responsible for heating the home and if you’re already covered.

Are you a homeowner?

You might not know, but if you’re a tenant, you’re not actually responsible for ensuring the property is heated. Therefore, if your boiler needs repairs, it’s up to the landlord to sort it. While this does prevent you from paying for cover, it does mean you could be without heating until the landlord gets the boiler fixed.

Level of boiler insurance cover

As with most types of insurance, not all policies offer the same level of protection, so it’s important that you get one that suits you. There are two main types: boiler-only and boiler plus central heating cover, with the latter usually being more expensive. You might even be able to include plumbing and drainage into the policy watch out for the price though.should I get boiler cover

Open market

First things first, you do not have to buy boiler insurance from your energy provider. Just because you get your energy from one supplier, that happens to offer boiler cover too, doesnt mean you have to buy from them. Take advantage of the open market and shop around for the best policy.

Compare the market

As with anything, you will need to compare the market if you want to get the best price for your insurance. There are comparison sites out there that do all the hard work for you, but its worth checking a few to get a complete overview. Also, you need to be aware that some providers arent on comparison sites – including NPower or Eon.

Service agreement vs. boiler insurance

There is one major difference between a service agreement and insurance. In the unfortunate case that the provider goes bust, a service agreement offers you no protection or compensation. If you are unsure which type of policy you have, check to see if the provider is listed as an insurer on the Financial Conduct Authority (FCA) website.

Alternatives to boiler insurance

Its not always necessary to buy specific boiler insurance as its possible that home emergency or contents insurance could already cover it. These policies might provide you with a basic level of cover, but are unlikely to offer the same level of protection as boiler insurance.

There is also the option to self-insure. This is where you save the money you would pay for insurance to pay for repairs or replacement should something happen. This is perhaps best for people with new boilers to allow enough time to build up a fund.

Remember that while its important that your boiler has some sort of cover to get it back up and running, but it might not be necessary for you to buy separate insurance.

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About Jemma Porter

About Jemma Porter

Jemma Porter is an experienced content creator who has written for a number of online publications. A self-confessed penny pincher; she's often found seeking out the best personal finance deals.

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