Is boiler breakdown cover worth it?

Breakdown cover is insurance, and like all insurance it is good value for some people and poor value for others.

When it makes sense

• Your boiler is older and repairs are becoming likely
• A sudden few-hundred-pound bill would genuinely hurt
• You are a landlord and cannot leave a tenant without heating
• You would rather pay a predictable monthly amount than an unpredictable annual one

When it does not

• Your boiler is nearly new and still under manufacturer warranty — you may be paying twice for the same protection
• You could absorb a repair bill without difficulty
• The policy excludes most of what is actually likely to fail

Read the exclusions first

This is where the value is decided. Common ones:

• Boilers over a certain age
• Pre-existing faults
• Systems without a service history
• Parts no longer manufactured
• An excess on every claim

A policy that excludes boilers over 12 years old is of limited use if yours is 11.

The alternative

Some people put the equivalent monthly amount aside and use a local engineer as needed. That works well if you are disciplined and your boiler is in decent health — and badly if it fails the month you started.

Whichever you choose, annual servicing is not optional. Most policies require it anyway.