Boiler insurance: is it worth it?

wall-mounted-radiatorIt’s that time of the year again when you breathe a sigh of relief that your boiler made it through the winter without leaving you high and dry – or should that be cold and dry – by breaking down in the middle of a cold spell. You may have also recently had it serviced and breathed another sigh of relief that it doesn’t need any expensive repairs or new parts to keep it going next winter. Each year you consider whether or not boiler insurance might give you that extra blanket of reassurance should something go wrong. But is it really worth it? This month we explore the value and cost of boiler insurance to help you decide.

The cost of boiler insurance

Typically, boiler insurance cover will cost around £20 per month. This is an average cost of £240 per year. We can think of a lot things that we can do for that amount of money, but the decision is, of course, down to you.

What does it cover?

The majority of insurance policies cover more or less the same things:

  • Breakdown cover, typically on a 24/7 basis
  • Labour and parts – depending on the level of cover you have opted for
  • Annual maintenance check or servicing
  • Central heating coverage – although again this will depend on the level of cover you have

What is the cost of an engineer call-out and annual maintenance?

The average cost of an annual check and servicing is around £70. Should you need to call out an engineer to check and repair your boiler when it breaks down, the cost is around £245. Again, this is an average cost and it could be higher or lower depending on what the problem is and what parts it may require, if any.

Is it worth it?

Given that the majority of people never make a claim on their boiler insurance, wouldn’t it be cheaper in the long run to pay out for repairs if and when you need them? Paying out for your annual maintenance will still be significantly cheaper than paying for an annual policy that you otherwise never use.

Are you already covered?

If your boiler is new it will be covered by a warranty which could last for as long as seven years. If you are a tenant in a rented property, it is worth checking that the boiler remains the landlord’s responsibility. Have a look through your home insurance policy too, as it may cover boiler breakdown – you don’t want to be paying for something twice!

Read the small print

Whatever you decide to do, read the small print. What exactly is covered and what is exempt? Is there an excess that you may have to fork out for? What, if any, replacement parts are covered by your policy?

For reliable boiler installations, servicing, and repairs by registered Gas Safe engineers, look no further than our Platinum Plumbers team. We have the know-how and the experience to tackle any boiler-related problems. All you need to do is call us on 020 8855 0361 or drop us a line at and we will get it sorted for you.

 

By | 2018-06-25T11:15:58+00:00 June 25th, 2018|Tips|