Which insurance will buy me a new boiler if mine breaks & cannot be repaired?

newhouseowner123

I have recently moved into a new house with a floor-standing gas boiler must be at least 20 years old. I've had no problems with it this winter, but I'm nervous in case one day it just packs in and cannot be repaired, as I don't have £2500 to spend on buying and installing a new one.

Can anyone help me with finding an insurance scheme that will pay for a new boiler if mine breaks, and cannot be repaired?

Thanks for your help.

macman

You'd be better off putting the monthly payments in a savings account towards a new boiler.
Make and model? Plenty of 20 year old boilers are still running fine (with regular servicing), and parts are still available.
Boilers of that age are generally simple and rugged beasts, with not a lot to go wrong, no complex electronics etc.

Horseunderwater

I'd second that OP. Floor standing ones tend to be easier to service and are more rugged. We used to have one in my old family home - was installed in 1987 and is still going strong. Mind you Brother has had 2 new pumps fitted to system in that time.
So I say open a saver account and pop money in each time you get paid.

FOREVER21

I would be very surprised if you could find any company that would cover a boiler 20 years old, that would be too much of a risk for an insurance company they might have to pay out! And they do not like to do this.
I replaced my old type boiler for a combi last year the old boiler had lasted 27 years so you may have a few more years left on yours.

ihateyes

newhouseowner123 wrote: »

I have recently moved into a new house with a floor-standing gas boiler must be at least 20 years old. I've had no problems with it this winter, but I'm nervous in case one day it just packs in and cannot be repaired, as I don't have £2500 to spend on buying and installing a new one.

Can anyone help me with finding an insurance scheme that will pay for a new boiler if mine breaks, and cannot be repaired?

Thanks for your help.

there is no insurance that will pay for a replacement boiler......

daveyjp

If you can't afford a new one you will be looking at a 10 year boiler rental scheme.

Far Better to start saving.

Road_Hog

Repair the old boiler, things like replacing pumps are necessary maintenance.

New boilers are expensive and don't last as long as old boilers. Obviously when you can no longer get parts then you have to pay out for a new one.

Fire_Fox

No insurance will pay for a new boiler, you have totally misunderstood the purpose of insurance. Either it will need to be repaired or replaced by the home owner - if that is you and you cannot afford it I don't understand why you would buy the property? I would suggest you prioritise 'rainy day' savings, cutting back hard on everything else with the help of MSE. If you find yourself unable to work at any point (redundancy, health) the state will not pay your mortgage for three months, and this situation is likely to worsen.

Wywth

newhouseowner123 wrote: »

I have recently moved into a new house with a floor-standing gas boiler must be at least 20 years old. I've had no problems with it this winter, but I'm nervous in case one day it just packs in and cannot be repaired, as I don't have £2500 to spend on buying and installing a new one.

Can anyone help me with finding an insurance scheme that will pay for a new boiler if mine breaks, and cannot be repaired?

Thanks for your help.

Insurance is all about managing risk.

There is no insurance company that will insure you for an event where the risk of such an event occurring is 100%

ollski

The same one who will replace your austin maxi with a new bmw when it packs up. (let me know if you find them pls :-))

newhouseowner123

ollski wrote: »

The same one who will replace your austin maxi with a new bmw when it packs up. (let me know if you find them pls :-))

haha! yes I suppose you're right.

Thanks so much for all the advice everyone. First time on this forum and your replies are much appreciated.

Will start squeezing the fun times and saving for a new boiler instead.