Boiler insurance is important for all homeowners to have. Having this type of insurance will help to lower the cost should something happen to your boiler. However, boiler insurance can be expensive and there are many different companies to choose from. It is important to take some steps to shop around and find the cheapest quote available. The good news is that there are some steps that you can take to get cheaper boiler insurance.
Shop Around for Boiler Insurance
First of all, take the time to shop around for your insurance. Just because your energy company supplies this type of insurance, does not mean that you have to opt for it. It has become extremely easy to shop around and compare prices with the internet. There are many price comparison websites willing to help you find the cheapest boiler insurance for you. The benefit of price comparison websites is that you put your details into the forms once and you gain results from many different companies.
However, when it comes to shopping around, you need to make sure that you go directly to the companies. While price comparison websites will help you find the cheapest insurance boiler based on a small number of details but these companies take a commission from the boiler insurance companies. This commission can sometimes be added to the price quoted to you – you will need to check the terms and conditions to find out whether this can happen. When you go directly to the company, you will be able to cut out the middle man. This will also help you talk to the boiler insurance company directly to find out more about the coverage you will gain.
Make Sure You Get the Level of Boiler Insurance You Need
There are different types of cover when it comes to boiler insurance. This is something that you need to look into to make sure that you have the right amount of cover you need. You will need to have servicing completed once a year and you can gain boiler insurance to help cover the cost of this. However, this is often the most expensive type of insurance and you may decide that the cost is not worth it.
However, the minimum amount of cover you need to have is against the boiler breaking down. The cost of replacing a boiler or making minor fixes can be extremely expensive and you usually find that there are problems when you have financial difficulties. Having boiler insurance will really help you take your mind off this problem, as you can claim the money back when you need it and not have to worry about living in a cold house with no hot water.
Do You Really Need Unlimited Claims on Your Boiler Insurance?
Some companies will limit the number of claims or charge extra for an unlimited number of claims. You could find that you are paying hundreds more per year for unlimited claims on your boiler insurance and you need to determine whether you really need this. There are high chances that you will only need to make a handful of claims during the year so will be wasting the extra money if you opt for unlimited claims.
However, you will need to look into your history of breakdowns with your boiler. If you have an old boiler that has needed a number of callouts already, you may find that the extra cost on your boiler insurance really is worth the money. You will also need to look into the amount of money you have available in the case of an emergency. You never know when your boiler will break down but think carefully about whether you really need those unlimited callouts to help save you money on your boiler insurance.
Type of Boiler Will Affect Your Boiler Insurance
The type of boiler that you have will directly affect the amount you will have to pay for your boiler insurance. It is worth doing some research into your boiler needs and whether it will work out cheaper to replace your boiler for one that has a lower amount of boiler insurance. However, this is not always worthwhile as you may have a boiler that has proven to be reliable the majority of the time.
Some boilers have smaller parts that are harder to get hold of. Some boilers will break down more often than others. If you have a higher risk of the boiler insurance company paying out, the cost of that boiler insurance will increase dramatically. The insurance companies do not want to make a payout when they can avoid it.
Do the Boiler Insurance Companies Offer Discounts?
Some insurance companies will offer discounts. This is another reason to contact the boiler insurance companies directly as they will not make any discounts clear on their website. Take the time to find out more about the type of insurance on offer and ask about the discounts. You could find that you save hundreds with just a 10% discount.
At the same time, talk to them about your deductible; insurance companies will tell you to have a deductible to cover the first cost of boiler repairs or replacements. You have the option to increase your boiler insurance deductible and it is sometimes worth doing. The benefit is that the insurance companies will get to pay out less so they will reward that by decreasing your boiler insurance rates.
Take your time to look around for boiler insurance to suit your needs. There are many different companies available and they will offer different levels of cover. Never just opt for your own energy supplier as they will not necessarily offer the lower boiler insurance costs.