Boiler Insurance Vs Replacement


With so many of us in financial hot water, it can be difficult to make boiler insurance a priority. Nevertheless there are some alarming statistics that will make you think twice before ditching your cover unless you plan to buy a new boiler.

According to one price comparison website, as many as a fifth of households have suffered from a broken boiler with an average repair and restoration cost of £320 in the past 18 months. Although boiler insurance can seem like a frivolous expenditure, it has the potential to save you from footing a much less sustainable bill.

Most boiler breakdowns happen when they are needed most, i.e. in the middle of winter. This is partly because there is additional strain on your boiler at these times of year. The residents in your household are likely to want warmer showers than during the summer and central heating can put a strain on any boiler – particularly if your house has single glazed windows and generally poor insulation. Losing heat through walls and windows means that your boiler will have to work twice as hard to keep your home at a comfortable temperature.

There are hundreds of different types of boiler, and some are much more reliable and efficient than others. If you fall into the large category of people who have an ageing boiler, you should consider replacing this in time for the winter. Your new boiler will be unlikely to break and in any event will probably be covered by a manufacturers warranty. On most boilers this will last for a period of around 5 years. Buying a new boiler will provide you with a number of advantages; it is likely to be more efficient than your previous boiler as efficiency tends to improve along with technology. This will save you money on your energy bill and this can actually amount to a considerable saving over the course of a few years.

Owning a more energy efficient boiler will also enable you to do your bit for the environment by cutting down on energy wastage. By combining a new boiler with improvements in your home insulation, you can make your household much more energy efficient and eco friendly.

Perhaps the main advantage of choosing boiler insurance over replacing your current boiler is that it enables you to manage your costs. Rather than paying out a large sum of money at a time of year when everyone is trying to save, you can pay insurance on a monthly basis and budget accordingly.

Ultimately the solution you choose will depend largely on your financial circumstances and your home improvement plans for this winter. Regardless of which you choose, it is clear that the combination of an old boiler and no insurance plan is a recipe for disaster.

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