With stretched Brits squeezing every penny, almost half (48%) view boiler cover as an unnecessary expense. But this strategy backfired for many households last year. In fact, one in five people (21%) considering taking out boiler cover this year are doing so because they faced a large bill when their boiler broke down and they now believe that cover works out cheaper than paying for repairs.
More than a quarter (28%) of those planning to take out boiler cover are looking for peace of mind as they are worried that this winter will be another cold one, while a third (34%) simply can’t afford any surprise bills. And with the cost of cover starting at £89 a year or just under £8 a month this could be a better option for those on a tight budget, offering a £231 saving compared to the average cost of repair.
Kevin Sears, energy expert at uSwitch.com, said: "As household budgets continue to be squeezed, consumers may be tempted to make savings wherever they can. However, going without boiler cover could leave you strapped for cash if your boiler packs up and you don’t have the money spare to pay for repairs. The average repair bill last year was £320. If this would be difficult for you to find then boiler cover could give you peace of mind.
"If boiler cover is the right option for you then it is vital to shop around for the best deal. Prices and the level of cover can vary, with some suppliers also including an annual boiler safety inspection. As well as saving money this could also potentially protect your family’s health. The other point to consider is that you are not obliged to take boiler cover through your gas supplier – you really are free to shop around to take advantage of a deal that suits your household’s needs."
Have your say on this story using the comment section below