A boiler is a must have in every household. In cold countries, people cannot do without a boiler as everything is dependant on this piece of machinery. If your boiler is functioning efficiently, then you can rest in peace. But if not, then hell breaks out. You can still take charge of such a situation if you take the right steps.
Replacing or repairing a boiler can be a costly affair for any landlord. A typical boiler repair would cost around 60 GBP and if it has to replaced then that would be 350 GBP.
This is where the concept of boiler insurance policy makes its presence felt.
What exactly is this concept?
It is a policy wherein you pay either a monthly or an annual payment to the insurance company who provides you a guarantee of repairing your boiler or replacing it, if at all your boiler dysfunctions during the period of the cover. Many insurance companies are now coming up with boiler cover which is greatly in demand by landlords who rent out their homes. The terms and conditions of the boiler cover vary depending on the make of the boiler, the date of manufacture and so on.
Landlords should not put off buying boiler insurance for two basic reasons. Firstly due to the trouble of identifying an engineer when the boiler malfunctions and secondly the costs associated with repairing it or replacing it. It is important to mention here that it is very rare that a boiler stops functioning normally but if it does so, it would become an expensive affair to repair or replace it.
It has been researched and established that it is a more feasible option to call for a heating engineer to repair your boiler than to sign a breakdown contract. However, the flip side to this is that it is not always easy to find a registered and experienced heating engineer during an emergency situation. If the landlord has some experience or contacts with plumbers and engineers, then it may not be all that tough.
There are many insurance companies who provide this kind of insurance. Landlords should preferably opt for an annual boiler cover which covers not only repairing and replacing the boiler, but also covers expenses related to plumbing and electrical works. Ignoring purchasing the cover would lead to greater problems and also problems for your tenant. It would save the landlord last minute rush where he has to call for the engineer, particularly if he is located far away from his property. If the boiler is a pretty old one, it makes sense buying a boiler cover as you would not want to pay repair charges of 200-300 GBP if it stops functioning.
It is advised that you check out with your friends and relatives who have gone in for boiler cover in the recent past and get their feedback. If they find the present insurance provider reliable, then you could settle for the same insurance company and also get some referral discount. Companies offer discounts to individuals who sign in for online boiler cover. These discounts do, however, come with many clauses, so ensure that you read them before accepting anything online.
Author Resource:-
For more information regarding central heating cover and boiler insurance visit the Energy Choices website.
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