As the temperatures continue to dip, we’re probably all using the heating a bit more.
It’s something we don’t like to do but, unfortunately, needs must. Recently, an expert has said you may be able to save a considerable amount of money if you make a simple check though.
A money saving guru from WhichUK claimed you might actually be paying for cover that you don’t need. He claimed some people pay as much as £100 a year on boiler cover, but it may not always be necessary.
In a TikTok video, he said: “An annual boiler package costs, on average, £180 every year. But, since the average service costs just £76 per year, then if you pay as you go, year by year, and you don’t need any repairs – well, you’re saving over £100 a year by not having cover.
“Of course, if your boiler needs repairs, then that insurance policy provides peace of mind. But, unless your boiler is particularly faulty, you’re really unlikely to make the money back on those policies over a long term.”
When it comes to weighing up if you need boiler cover, he said you need to ask yourself a few simple questions to decide. For example, if your boiler is still under warranty, then the manufacturer should repair it for free.
However, you will need to keep up to date with your annual services. It’s also worth checking if your boiler is covered by your home insurance, as some policies include it as an extra, which can be a “cheaper option”.
Another thing he said to think about is “self-insuring”. In other words, it’s a good idea to save some money in case anything goes wrong with the boiler. This way you’ll always have some extra cash to fall back on if any problems arise.
The key is to tuck it away from any other savings pot you have, so you don’t end up dipping into it. Getting to know a trusted local trader could also be useful in case you like going to someone for advice.WhichUK actually has a “trusted traders” tool so you can look up known traders in your area.
The video has been viewed hundreds of times since it was shared, but people had varying views. Some thought boiler cover was really worth the money.
One person said: “If you get a decent new boiler, it will come with a 10 year to 12 year warranty which, if you get about 15 years out of a boiler that you’ve not had to fix – just service – you can’t go far wrong.”
Another wrote: “Boiler cover doesn’t just cover the boiler, so it’s worth it.” A third also replied: “If your boiler is old, and at an increased risk of breaking down, you might need boiler cover.”
When it comes to deciding whether to get boiler cover, experts say there are a few things you should consider. These include:
- The age of your boiler. If it’s older than seven to 10 years old, it’s usually a good idea to get cover.
- Warranty status. When the boiler’s warranty expires, it’s wise to start thinking about cover.
- Home ownership. Only those who own property need to worry about boiler cover, not tenants.
- Sometimes it’s good to have it for peace of mind. Even if your boiler is quite new, having cover can cause people less worry about having to cover costs of repair in case of a breakdown.
