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Is boiler cover a wise investment?
Choose the right policy and protect your boiler
Boilers are one of the most valuable appliances in your home. As a result they should be properly cared for. If you fail to do this you increase the risk of losing hot water and heating. In addition an old appliance can also become hazardous, potentially leaking harmful gas or risking fires. One thing you should definitely look into if you want to protect your machine for the long term is boiler cover.
There are many different types of cover to choose from, ensuring there is something for any need. Sadly it can be a little tricky to decide which is best for you. The terms of policies can differ greatly. Therefore it is wise to look carefully to see what is included. It is also a good idea to check if there is any excess to pay should you need a new boiler or heating system.
What kind of cover is available?
Below is a list of the most common types.
Boiler Cover – a policy or agreement providing protection against breakdowns that can also include central heating problems.
Boiler Service Agreements – a contract that covers you in the event of a boiler breakdown and a loss of hot water.
Home Emergency Cover – also provide protection if a boiler breaks down but may offer coverage for cold water pipes and electrics too.
Central Heating Cover – this is a common add on to policies for boilers. It is particularly useful if you have a regular boiler because it will ensure you are fully covered.
What about boiler excess?
This is a term you will see quite commonly in policies. Like other types of insurance you may need to pay an excess if you want to make claim. Generally providers include this kind of clause so that they can offer you cheaper prices. Consequently, you should read the policy carefully and ensure you are clear on what you would need to pay out in the event of a boiler breakdown.
There are a number of well-known boiler cover providers in the UK. The companies you are most likely to encounter are:
What you will find is some of them offer boiler insurance whereas others focus on service agreements. The important thing to keep in mind with this is that the latter tends to be the best for emergency call outs. Non-essentials such as repairing the gas line or flue may not be included in the policy. As a result the agreements tend to be cheaper.
If you want comprehensive cover it is better to go for insurance. That can protect you against a wide array of problems, including noises within the boiler, replacing hot water pumps, and heating controls.
Is there a cap?
Another important thing to look at is the rules on claims. Some policies will limit the amount of times you can make a claim. It is wise to look carefully for this to ensure you don’t find yourself in a difficult situation.
In addition some policies may have a monetary cap in place. Caps may restrict things like the amount that can be paid out for labour, parts, etc, and how much they will pay towards boiler replacement. There may also be a specific timeframe for the cap. For example some types of boiler cover will limit how much you can claim within the first few months of the policy.
Is there any regulation for boiler cover?
Boiler insurance policies are just like other forms of insurance in that the Financial Conduct Authority (FCA) regulates them. Therefore anyone who takes out the coverage can complain to them if there are ever any issues. In addition, they can report problems to the Finance Ombudsmen.
Service agreements are a little different. They are contracts between you and the service provider. Consequently they fall outside of the FCA’s and Financial Ombudsmen’s remit. Instead of complaining to either of these bodies, you have to go through the provider’s complaints procedure.
If you are looking for boiler cover, Warm can help you. We provide a quick service that will get you quotes fast. Simply complete the form on this page or contact us on our freephone number.