When you’re a landlord, you must consider many things to keep your tenants safe and happy. One of those things is the boiler cover. This post will guide you about landlord boiler cover , why you need it, and how to get the best coverage. Read on to learn more!
Boiler cover for landlords is insurance that covers the cost of repairs or replacement if your boiler breaks down. This type of insurance is important because it can help you avoid paying for expensive repairs. It can also help you keep your tenants happy by ensuring that their heating and hot water are always working properly.
Landlord and Homeowner Boiler Cover: What’s The Difference?
Many people hold this idea to be true that landlord boiler policy and homeowner boiler cover are the same.
Both types of boiler coverage typically include the ability to call in engineers, use a customer hotline, and receive a yearly boiler service and safety inspection in addition to repairs to your boiler and its controls. A Landlord Gas Safety Record, a legal document that acts as evidence that you get your gas equipment examined annually, sets landlord boiler cover apart from homeowner boiler policy.
Legally, landlords are supposed to pay for the expense of servicing and repairing malfunctioning boilers on their properties. For a boiler fix, you will also need to call out an engineer to visit the home. Your tenants can’t make decisions since they won’t be qualified for boiler insurance.
Getting boiler insurance is a smart move. In addition to peace of mind, the cover enables you to authorise your tenants to contact engineers to resolve the issue without you having to travel to your rental property.
There are a few reasons why you might need a landlord boiler policy:
- It will likely break down if your boiler is over ten years old.
- If you have many tenants in your rental property, they may use the boiler more often than if you only had a few tenants. This increased use can lead to more wear and tear on the boiler, which means it’s more likely to break down.
- Living in a colder area, your tenants will likely use the heating more often, putting extra strain on the boiler.
For all of these reasons, it’s necessary for landlords to have a boiler cover in case something goes wrong with your boiler.
There are a few different ways to get boiler cover. You can get a standalone policy from an insurance company or add it to an existing homeowner or renters’ insurance policy. You can also get landlord boiler cover through some utility companies. Whichever way you choose to get coverage, compare quotes from multiple providers to get a competitive price for your needs.
After you buy a boiler, many of them are covered by a warranty or guarantee.
Most warranties last between two and five years, so during that time, you will receive the same level of protection as landlord boiler insurance.
However, boiler warranties frequently have additional terms and restrictions, like requiring an annual service by the boiler’s manufacturer to maintain the warranty.
Additionally, boiler warranties only cover the boiler, so your entire heating system is not covered unless you get a more comprehensive boiler insurance policy.
Boiler cover options for landlords
Different companies are offering boiler cover plans for landlords, but there are typically three choices offered in the market for landlord boiler insurance policies:
This insurance does not cover radiators or piping, only your boiler for replacement or repair. The least expensive choice is typically boiler-only coverage.
This insurance covers your home’s entire central heating system, including the boiler, heat pumps, pipes, and radiators. While an entire system policy will cost more than boiler-only coverage, it will provide you with the assurance that you are fully insured.
Emergency protection is typically the most expensive type of landlord boiler insurance. It protects your complete heating system while also enabling you to call a plumber if one of your tenants experiences an “out of hours” emergency.
The cost of replacing or repairing a boiler is high, and it must be completed swiftly to keep your tenants from going without heat or hot water. A landlord boiler cover is important because it can help you avoid paying for expensive repairs out of pocket. It can also help satisfy your tenants by ensuring that their heating and hot water always work efficiently.
If you’re a landlord, make sure you understand your options for getting coverage so that you can save money if something goes wrong with your boiler.