by lakemen » Mon Apr 17, 2006 11:10 am
Your boiler needs regular check ups and repair when it breaks down. Boiler insurance assures that your boiler and central heating will be taken care of in case of any damage.
What is boiler insurance?
Boiler insurance provides coverage for the repairs that you may need or in some cases it also reimburses the cost for replacing your home boiler. With boiler insurance you can also cover other parts of your central heating system as well as your plumbing and electric equipments.
Do you need boiler insurance?
Repairing boilers or your central heating can be expensive if you have to pay all of it out-of-pocket at a time. In addition the new style boilers are quite complicated as well as expensive and they add on to the costs if they are damaged. However, with boiler insurance you can reduce the burden of repairing your boiler yourself. Your insurance policy will then take care of the repair.
How would you know which insurance to buy?
There are several factors that can help you decide which insurance to buy.
For standard gas boilers, you can purchase heating cover that covers few or all of the following:
Price may not always be the determining factor that helps you decide which boiler insurance to buy. While there may be plans that provide coverage only for the boiler, there are also plans that may cover the central heating that includes the radiator, pipes as well as hot water. There are also boiler insurance policies that may also replace the cost of a yearly boiler inspection.
Policies that are very popular with consumers often offer to insure plumbing, drains, security as well as the electrical wiring. This may, however, be a costly policy but is nevertheless a worthwhile policy considering the one time costs that you may have to bear in case some damage happens.
Usually older boilers are more expensive to insure since they may need repairs. If your boiler is new, there is less likelihood of needing repair work and hence new boilers and heating systems are less expensive to insure.
Another factor that helps determine the cost of boiler insurance coverage is the age of your boiler. If your boiler is more than 15 years old, some insurance companies may refuse to insure it. There may be others who would want to run an inspection to see whether your boiler was installed more than 7 years ago. Some companies also have the clause that boilers after a certain number of years will not be replaced in case of complete breakdown.
Your boiler or central heating is a very important part of your home. However, your home insurance policy may not provide coverage for such items. Again these are quite expensive and may need repair and servicing. Having boiler insurance helps at times like these. If you don't want to bear the expense of repairing your boiler all at a time, boiler insurance would be the best choice for you.
For standard gas boilers, you can purchase heating cover that covers few or all of the following:
- Repair for boiler parts as well as the labor charge.
- Replacement cost of the system if it is considered beyond repair. However, there is a limit to such reimbursements.
- Fixed or unlimited number of claims that can be made annually.
- Cost for annual servicing.
Price may not always be the determining factor that helps you decide which boiler insurance to buy. While there may be plans that provide coverage only for the boiler, there are also plans that may cover the central heating that includes the radiator, pipes as well as hot water. There are also boiler insurance policies that may also replace the cost of a yearly boiler inspection.
Policies that are very popular with consumers often offer to insure plumbing, drains, security as well as the electrical wiring. This may, however, be a costly policy but is nevertheless a worthwhile policy considering the one time costs that you may have to bear in case some damage happens.
Usually older boilers are more expensive to insure since they may need repairs. If your boiler is new, there is less likelihood of needing repair work and hence new boilers and heating systems are less expensive to insure.
Another factor that helps determine the cost of boiler insurance coverage is the age of your boiler. If your boiler is more than 15 years old, some insurance companies may refuse to insure it. There may be others who would want to run an inspection to see whether your boiler was installed more than 7 years ago. Some companies also have the clause that boilers after a certain number of years will not be replaced in case of complete breakdown.
Your boiler or central heating is a very important part of your home. However, your home insurance policy may not provide coverage for such items. Again these are quite expensive and may need repair and servicing. Having boiler insurance helps at times like these. If you don't want to bear the expense of repairing your boiler all at a time, boiler insurance would be the best choice for you.
Posted: Fri Jul 02, 2010 02:49 am Post Subject: Insurance
I guess there is insurance for almost everything. I was just interested what it covered. haha
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