6.4 million households unable to cover the costs of a broken boiler

1 May, 2019

01 May 2019 Though the winter months are falling far behind us and the warmer weather is now setting in, research from home and boiler cover company, Hometree, reveals that over a third of UK households – the equivalent of around 6.4 million homes – say they wouldn’t be able to cover the cost of a broken boiler, putting them at risk of having no hot water or heating in their homes. In addition, one in five (20%) admitted they had nothing set aside for when their boiler went wrong.

And yet, a worrying 72% said they had no cover or insurance to protect them in the event of a boiler emergency.

Considering the average cost of replacing a boiler is around £2,500, the usual amount that households that owned their boilers had set aside was £765. However, this figure dropped to just £444 for those aged under 35.

This revelation comes as Hometree moves into the boiler cover space with the launch of Hometree Care Packages.

The boiler, heating and home products will offer a service plan protection for homeowners and landlords, offering emergency boiler repairs, replacements and annual services for your boiler.  Promising to be the ‘cover that actually covers’, Hometree’s new service plan is the most comprehensive boiler, heating and home cover compared to its competitors.

Simon Phelan, CEO of Hometree, said: “For many, boilers are the last things people think about when it comes to their home – until something goes wrong.  Having a boiler breakdown, leaving a home suddenly with no heating or hot water can be stressful enough without having to think of the costly bill that comes with repairing or replacing it.  With over a third of us having concerns about being able to cover the cost of a broken boiler, we advise homeowners to check they have the right cover in place to protect them and offset any unexpected expenses from such a breakdown.

“For a long time, consumers have been fed up with the same problems with big, traditional home cover companies. Confusing products, complicated pricing, price hikes and poor service have left too many people feeling ripped off and let down.  It’s time this changed. We’re thrilled to offer a cover product that actually covers, providing an affordable and comprehensive plan to our customers that will mitigate stress from a broken boiler and help save homeowners thousands in the long run.”