Boiler insurance may seem complicated, but let’s simplify it in this article.

What does boiler insurance cover?
Boiler and central heating insurance is designed to help cover the expenses of repairing your boiler or heating system in the event of a breakdown.
It generally covers the costs of hiring an engineer and the price of repair parts. Some even cover the labor costs for boiler and central heating repairs.
Some Corgi Home Plan policies also offer coverage for the costs of an annual boiler service. You have the option to pay for this plan upfront for the entire year. Or you can pay in monthly installments through direct debit.
This comprehensive plan covers various scenarios. This includes the boiler failing to turn on or a malfunction in the hot water supply.
Key considerations when purchasing boiler cover
New Boiler Requirement
Keep in mind that boiler insurance generally applies to new boilers. If your boiler is older, it may be necessary to install a new one to qualify for coverage. Take the time to research providers who offer suitable options, as this can help lower your future expenses significantly.
It is essential to conduct thorough research to identify a boiler cover provider that offers the most suitable terms and coverage for your specific needs. By doing so, you can potentially reduce your future expenses and ensure you receive the best value for your money.
Beware of automatic renewals
When you have an existing boiler insurance policy, it’s crucial to be aware that most policies have an auto-renewal feature. As a result, the premiums for subsequent years may be higher.
This is primarily because insurance providers often offer introductory discounts to attract new customers. To minimize costs and secure the best deals, it is advisable to proactively shop around. Also consider selecting a new provider each year.
By actively comparing options and switching providers, you can take advantage of competitive rates. You may avoid potential price increases associated with auto-renewals.

Consider self-insuring
Instead of paying premiums to an insurance provider, another option is to set aside a small amount of money each month. This creates a fund to cover potential repair costs. This approach is similar to building a rainy-day fund.
By self-insuring, you will have cash readily available in case of a boiler malfunction. This allows you to cover call-out charges or repairs.
However, it’s important to note that self-insuring requires significant self-discipline and the ability to save consistently. For many individuals, paying premiums to an insurance provider is a more manageable option.
When considering boiler and central heating insurance, it’s essential not to assume that your energy supplier automatically offers the most affordable coverage. Take the time to shop around and compare electricity and gas prices.
Be aware of the excess and no-claim periods
When considering boiler insurance, it’s important to be aware the excess you may need to pay and the no-claims period you’ll have to wait before making a claim. This waiting period is typically one to a couple of weeks and is in place to discourage people from taking out cover after discovering a fault.
Keep in mind that making claims will increase your rates, and you’ll be expected to contribute a certain amount towards the cost of repairs or calling out a technician. For example, if the total cost of repairing your boiler is £200, you may be required to pay £50 while your insurance covers the remaining £150.