Does your boiler give you sleepless nights? If it's getting on in years, it might be as well to remember that not only could it be too late to arrange to insure it (many insurers won't offer cover on boilers older than 15 years) but there could be other aspects to think about.
If it's starting be play up and be rather less reliable than it used to be, or it's just the fact that you know it can't go on forever, “Mend it with a new one” may be the best policy. It'll certainly repay you with much lower fuel bills. According to the consumer people Which? the replacement of an old boiler with a brand new and energy efficient one could pay for itself by saving around 130 pounds per year in energy costs.
What if you've got a relatively new boiler though? Despite the fact that Which? are suggesting that it may cost less overall to get out a heating engineer if you're having boiler problems, it's maybe not as simple as that. With the average cost of repairing a boiler being 220 pounds and if the problem is terminal, an average replacement cost of at least 20 times that amount, that's a lot to lay out. Whilst you could be lucky and have a trouble-free experience with your boiler, you could equally be unlucky and need to get to know the repair man better than you'd have liked.
So maybe the peace of mind that boiler insurance offers is the right way to go? Once the warranty on your boiler comes to an end you'll need to find out just what's available in the way of cover.
Check your home insurance policy first – it's possible that boiler insurance is included, or that you can add it. One insurer will offer this at less than 50 pounds per annum and it covers all emergencies, such as plumbing problems, the main heating system and your electricity supplies. The things that would be really problematical should they occur at the wrong time – which is frequently the case.
There are also specific policies, which include a yearly service to the boiler. Regular servicing can ensure that the boiler is kept in tip-top condition and help to prolong its life. This is obviously an advantage to both the insurer, as the chances of call-out are lessened, and to you, as being less hassle. Every breakdown is a nuisance, even when you know it's not going to hit your pocket.
Cover varies with different companies and costs of premium. You could find that the apparently cheaper ones actually have a restriction on the number of call-outs you can have in the insurance period, or on the excess they charge. These policies are available from various sources, including your energy supplier. What you really need to do is to find what's available and to check the prices, terms and conditions of each supplier – a time consuming exercise, which is likely to leave you only more confused than ever.
An alternative is a simple on-line search to find an independent insurance broker – they have the resources to search virtually the whole market in boiler insurance and they'll come up with some options to suit your needs, at the best possible price.
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