With temperatures set to drop over the next few days, it is important that landlords check whether they have protection for the boiling and heating systems in their properties.
If the boiler in your rental property breaks down completely, the cost to fix or replace it could be expensive.
Landlord boiler cover is often included in home emergency insurance, and it can help you to get the heat and the hot water back on for your tenants as soon as possible.
But many landlords do not have boiler cover for landlords, and that means the boilers in their properties are not protected. After all, ‘home emergency’ cover is an optional add-on.
Brian Brown, head of insight at financial information business Defaqto, commented: “Modern boilers are expensive and the cost of having to replace one can be a nasty shock. If you don't have the funds to pay for this, then a boiler breakdown policy that includes boiler replacement, may be a good option for you.”
Defaqto offers the following top tips to protect you this winter:
1. Check what cover you already have with your insurance policy.
2. Check for any exclusions, such as the age or power output of the boiler and whether it needs to be regularly serviced or inspected.
3. If you bought your boiler within the last few years, check what cover the manufacturer gives as standard under the warranty, and check for any exclusions.
4. If you have a heating system that is powered by an electric boiler, solar or solid fuel, check whether your policy includes cover for this as many do not.