Boiler insurance is a must if you have a boiler at your home. It covers the repair costs and sometimes even replaces the boiler. If you have home insurance but don’t have boiler insurance then, you should have one.
Boiler insurance is a good decision for property owners and it is advisable to purchase separately than a combine package with home insurance.
Separate boiler insurance will also cover additional costs such as plumbing, electric and a part of associated central heating system. Boiler cover is needed to purchase boiler insurance. If you stay in social housing or a rented property, then this insurance will cover the boiler costs if it gets damaged or spoilt. Most of the properties for leases are equipped with boiler insurance.
The coverage of boiler insurance depends on the insurance companies. Few companies cover the servicing costs which includes the associated parts and labor charges. Some companies reveal the coverage at the time of explaining the insurance policy. Some have limited and fixed amount for repairs while some offer unlimited funds irrespective of the work and the number of times the boiler was broken. Most of the times, home insurance and boiler insurance are sold together hence, before buying additional one, check your home insurance documents.
There are 4 types of boiler insurances:
- Boiler, drains, central heating and electric insurance covers
- Boiler and heating system coverage
- Boiler only
- Boiler, drains and central heating insurance covers
Full heating system is the most expensive insurance which will cover the boiler maintenance as well as it will take care of the valves, pipes, radiators, etc. The plumbing and electric wire works are also covered. Before selecting any type of insurance, it is advisable to compare the plans and the coverage offered. Few companies do not provide insurance for boiler if it is 10 to 15 years old.
Some boiler insurance companies provide annual maintenance to look after the boiler, but the premium could be high in that scenario. It can be said that higher the premium, more are the benefits.
