If you’re a landlord, it’s up to you to make sure your tenants enjoy living in a safe and warm home with plenty of heating and hot water throughout the year. So, if a boiler breaks down at one of your rental properties, the responsibility falls on you to call out a qualified engineer and fork out money to get the boiler repaired or replaced. But when you take out landlord boiler insurance, not only can you ensure your tenants remain happy and comfortable but you’ll also protect yourself from pricey boiler repair bills.
What is Landlord Boiler Insurance?
Put simply, landlord boiler insurance is a type of insurance policy that saves you hassle and money when a boiler stops working at your rental property. When you receive a call from your tenant to say that they’re suddenly without heating or hot water, you then have the stress of finding an engineer to visit the property as soon as possible. On top of that, you have to pay for the boiler to be fixed or, worse still, spend money on a replacement boiler if the existing one can’t be repaired. Landlord boiler insurance protects you by covering the cost of boiler repairs and gives you peace of mind that unexpected heating emergencies can be dealt with quickly and safely.
Is Landlord Boiler Insurance Worth the Cost?
Most landlords would say it is worth it because it saves them having to part with a large sum of money each time a boiler at one of their properties breaks down and needs fixing. In addition to covering the costs of a broken boiler, landlord boiler insurance can include 24-hour assistance and unlimited call outs, taking away the stress of organising any emergency boiler repairs. You may find that your existing landlord home emergency insurance policy has sufficient cover for boiler breakdowns and repairs, in which case you won’t need to take out more cover.
Which Landlord Boiler Insurance Policy is Best for Me?
Each provider will offer different landlord boiler insurance products, and some policies provide other benefits on top of boiler breakdown cover. The cost of landlord boiler insurance can vary, and you may even find that some providers won’t cover your boiler if it’s too old, which means you’ll need to shop around to find the best policy.
Here are some of the main benefits to look for when it comes to choosing the right landlord boiler insurance cover:
- Free annual boiler service
- CP12 (gas safety) certificate
- A high or unlimited number of engineer call outs and claims
- All parts and labor costs
- Access to a 24/7 call centre to organize emergency call outs
If you’re willing to spend a little more each month or year, you can opt for a policy that includes cover for things the central heating system, plumbing, drainage, electrical emergencies and more. Some providers will let you tailor your plan, whereas others only offer boiler cover packages or boiler and central heating policies.
What is the Cost of Landlord Boiler Insurance?
The average cost of landlord boiler insurance can vary greatly, and the monthly or annual fee you pay depends on your insurer and which policy you choose. We should also say that some of the cheap packages carry an excess, so you may want to choose a more expensive plan if you think you’ll struggle to afford to pay the excess when emergency boiler repairs are needed.
You can look at the table below to compare just some of the landlord boiler insurance plans available from different providers in the UK, as well as the excess level and the monthly cost.
|Cover Provider||Policy Name & What’s Covered||Excess Level||Monthly Cost|
|British Gas||HomeCare One: Boiler and|
controls, annual boiler service
and a CP12 (gas safety)
|EDF Energy||EDF Landlord Protect Cover: Gas|
boiler and controls, central
heating system, annual service
each year, up to £500 towards a
|24/7 Home Rescue||Landlord 24/7 Boiler Care: Boiler|
breakdown, annual boiler service
and a CP12 (gas safety)
|Warranty People||Landlord Bronze: Boiler|
breakdown, carbon monoxide
test, CP12 (gas safety) certificate
and annual boiler service.
As we said before, always shop around and compare policies to ensure you get the best deal and the right level of cover. When looking at different providers and plans, you may notice that some offer incentives for signing up or introductory offers but, in most cases, the monthly charge increases after the first year or jumps up if you need to make a claim. To avoid any nasty surprises, check the terms and conditions of each landlord boiler insurance plan that appeals to you.