Cheap gas boiler insurance cover is a type of insurance policy that protects homeowners from the financial burden of unexpected boiler repairs or replacements. This comprehensive guide will delve into the details of cheap gas boiler insurance, covering key aspects such as coverage, excess, and considerations for older boilers.
Does Cheap Gas Boiler Insurance Cover Repairs and Replacements?
Yes, cheap gas boiler insurance typically covers both repairs and replacements. Policies usually include annual boiler services and cover for various components of the central heating system, such as plumbing, drainage, and home electrics.
The coverage for repairs and replacements can vary depending on the insurance provider, but most policies will cover the cost of labor, parts, and materials required to fix or replace the boiler and its associated components. Some policies may even include a contribution towards the cost of a new boiler if the existing one is beyond repair.
For example, a typical cheap gas boiler insurance policy from a provider like 247 Home Rescue may cover the following:
- Boiler repairs, including parts and labor, up to a maximum of £1,000 per claim
- Boiler replacement, up to a maximum of £1,500, if the boiler is beyond economical repair
- Annual boiler service, including a safety check and minor adjustments
- Cover for the central heating system, including radiators, pipes, and thermostats
- Plumbing and drainage cover, including blocked drains and leaks
- Electrical cover, including issues with the home’s wiring and fuse box
It’s important to review the policy details carefully to understand the exact coverage and any limitations or exclusions that may apply.
What is the Typical Excess for Cheap Gas Boiler Insurance?
The typical excess for cheap gas boiler insurance varies depending on the provider. Some policies may have a £0 excess, meaning you don’t have to pay anything towards the cost of a repair or replacement. Other policies may have a higher excess, such as £60 or £100.
The excess amount can have a significant impact on the overall cost of the insurance policy. Generally, policies with a higher excess will have lower monthly or annual premiums, while those with a lower excess will have higher premiums.
For example, a policy from MoneySuperMarket may have the following excess options:
- £0 excess: £12.99 per month
- £60 excess: £9.99 per month
- £100 excess: £7.99 per month
When choosing a policy, it’s important to consider your budget and the likelihood of needing to make a claim. A higher excess may be more suitable if you have a newer boiler and don’t anticipate many issues, while a lower excess may be preferable if you have an older boiler or are concerned about potential breakdowns.
Can I Get Cheap Gas Boiler Insurance for an Old Boiler?
Yes, you can get cheap gas boiler insurance for an old boiler. However, the insurance provider may consider the age and condition of the boiler when determining the premium and coverage.
Some providers may have age limits for boilers they are willing to insure, typically around 15-20 years old. If your boiler is older than the provider’s limit, you may still be able to get coverage, but the cost of the insurance may be higher.
For example, a policy from GoCompare may have the following age limits and premium adjustments:
- Boiler age 0-10 years: Standard premium
- Boiler age 11-15 years: +10% premium
- Boiler age 16-20 years: +20% premium
- Boiler age over 20 years: May be declined or require a higher premium
In addition to the age of the boiler, the insurance provider may also consider factors such as the boiler’s make, model, and maintenance history when determining the coverage and cost.
It’s important to shop around and compare quotes from multiple providers to find the best deal for your old boiler. Some providers may be more willing to insure older boilers than others, and the premium adjustments can vary.
Technical Specification of Cheap Gas Boiler Insurance Cover
Boiler Breakdown Cover
- Covers the cost of labor, parts, and materials required to repair or replace the boiler and its associated components, such as the heat exchanger, burner, and control panel.
- Typical coverage limits range from £500 to £1,500 per claim.
Annual Boiler Service
- Includes a comprehensive safety check and minor adjustments to ensure the boiler is operating efficiently and safely.
- Service is typically carried out by a Gas Safe registered engineer.
Central Heating System Cover
- Covers the cost of repairing or replacing other components of the central heating system, such as radiators, pipes, and thermostats.
- Coverage limits for central heating system repairs are typically between £250 and £500 per claim.
Plumbing, Drainage, and Home Electrics Cover
- Some policies extend coverage to include issues with plumbing, drainage, and home electrics, such as blocked drains, leaks, and electrical faults.
- Coverage limits for these additional areas are usually between £100 and £500 per claim.
Excess
- The excess is the amount you must pay towards any repairs or replacements before the insurance coverage kicks in.
- Typical excess amounts range from £0 to £100, with lower excess policies having higher premiums.
DIY Considerations
While cheap gas boiler insurance can provide peace of mind and financial protection, it’s essential to weigh the costs and benefits to determine if it’s the right choice for your situation.
Cost of Insurance
- Calculate the total cost of insurance premiums over the lifetime of the policy and compare it to the potential cost of individual repairs or replacements.
- For example, if the annual premium is £120 and the policy covers the boiler for 10 years, the total cost of the insurance would be £1,200.
Boiler Age and Condition
- If your boiler is relatively new and in good condition, the cost of insurance may outweigh the potential benefits, especially if you don’t anticipate many issues.
- Conversely, if your boiler is older and more prone to breakdowns, the insurance may be a worthwhile investment to protect against the cost of unexpected repairs or replacements.
Annual Servicing
- Regular servicing of your boiler, typically costing between £60 and £100, can help extend its lifespan and reduce the likelihood of breakdowns.
- This may be a more cost-effective option than paying for insurance, especially if your boiler is relatively new and well-maintained.
By considering these factors, you can make an informed decision on whether cheap gas boiler insurance is the right choice for your home and budget.
References
- 247 Home Rescue. (n.d.). Boiler Cover & Central Heating Insurance. Retrieved from https://247homerescue.co.uk/boiler-cover/
- MoneySuperMarket. (n.d.). Boiler Cover – Compare The Best Deals On Boiler Insurance. Retrieved from https://www.moneysupermarket.com/boiler-cover/
- GoCompare. (n.d.). Boiler Cover and Central Heating Insurance. Retrieved from https://www.gocompare.com/home-insurance/home-emergency-cover/boiler-and-central-heating-cover/
- Progressive. (n.d.). Does Homeowners Insurance Cover a Furnace or Boiler? Retrieved from https://www.progressive.com/answers/does-home-insurance-cover-furnaces/
- Reddit. (2022). Boiler cover – worth getting? Or better to pay as and when needed? Retrieved from https://www.reddit.com/r/UKPersonalFinance/comments/rw44h1/boiler_cover_worth_getting_or_better_to_pay_as/