Boiler care- good idea or waste of money?

[Suddengeekgirl]

We have a boilermate 2000 thermal store and a glow worm boiler. They're both 12 years old and were installed when the house was built.
So far so good. :)

But a neighbour has had a problem with the boilermate. It died and so she used her boiler care insurance and luckily they replaced it. It would have cost £1000s otherwise!

Is it worth getting boiler care cover?

I'm struggling to know what is/ isn't included and when I read the T&C some places won't replace the boiler if it is over a certain age.

Anyone got any advice?

I got BG Homecare two years ago when my 10 year boiler first broke, as I did not have the money to pay the massive several hundred bill. It costs about £20/month. My boiler has broken twice since (so three times in 2 years time) and I would have paid so much more if I did not have the cover.

Though shop around for good deals. I panicked at the time and BG was the only name that came into mind.

Would they replace it if it was beyond economic repair/ dead?

If you pay £20 a month for ten years, that's (24x12x10) = £2880

the care companies calculate that your repairs will cost less than that, and anyway, they will stop covering your boiler when it gets old and unreliable. They don't expect to lose money on boiler cover.

Piglet - are you saying that it's not worth it for an older boiler?

it is usually said that PAYG works out cheaper than extended warranties or service contracts. The companies selling them expect to make a profit.

When you have an old boiler that is beyond economic repair, they won't repair it, and they won't give you a new one. They may say they are unable to get manufacturer's original parts.

I was going to say the same as PigletJohn. In essence, the 'care cover' companies run to make a profit, so, statistically you are likely to pay out a LOT more than you ever save by using them, over your homeowning years. Of course the question is, are you able to cover a big bill when one comes suddenly out of the blue - some people would rather pay a monthly fee and know they are covered. Mathematically it would make more sense to save that £20 a month (or whatever) into an 'emergency fund' each month, and then build up the money you need to pay for big repairs.

I think we can cover repairs but when the thermal store dies that could be big £££.

My head tells me it's a ware of money - unless they will replace a dead thermal store. Which seems unlikely!

our 8 year old gloworm boiler has been repaired every year since it was installed. it's beyond useless. took out a bg homecare for a few years then when premiums got a bit excessive (due to number of call outs) switched provider until the same happened and switched again.

every part has been replaced, some more than once. wouldn't have been without some form of care agreement when it packed up completely when we had 3 month old dd

of course they are there to make a profit, they're a business, but if you need a quick response can't fault them

Boiler cover is great, in that you have a contact immediately if you have a problem but you will probably pay far more than if you paid for repairs as they came along. Our old boiler broke down every year, sometimes just a washer going and I worked out it still cost less than having a contract.

You do have to bear in mind, that as a boiler gets older the parts for that particular one become obsolete and no contract can solve this - it's a new boiler situation. It might be worth contacting the manufacturers on this one and they can confirm whether all parts are still made. I know Worcester Bosch guarantee to make parts for 10 years and Valliant 15 years.