Your homeowners insurance is meant to cover many mishaps in your home. A broken boiler will be a costly expense. While you may be tempted to try and file a claim against your homeowners policy, a boiler breakdown may not be covered. Several factors will need to be considered, and you will need to talk to your insurance agent to determine what needs to occur before the damages would be covered.
Older homeowner insurance policies rarely covered boiler breakdowns. On the other hand, new policies are being written to include some form of coverage if more significant pieces of equipment break down for specific reasons. The bottom line in this situation is to avoid a boiler breakdown being covered. If you have questions, you must talk to your agent to learn more. Every policy is different and offers specific types of coverage. You may be surprised to find out what your policy covers.
Your homeowners insurance will cover a broken boiler under certain conditions. If your boiler is damaged by a known peril like a natural disaster or an explosion, then your damages would be covered as long as the peril is covered. Natural disasters can include fires, lightning, blizzards, or heavy rain. Floods, hurricanes, and mudslides are natural disasters that will not be covered by a basic homeowners policy. You will need to purchase an additional endorsement.
If you don't have sufficient coverage, you will be forced to pay for the entire cost of the repairs out of your own pocket. It's important to understand exactly what your policy includes and what it doesn't. Instead of worrying about having to pay for a breakdown, purchase additional coverage to ensure that you won't be wholly responsible for the entire amount of the repairs. You may be able to buy a policy just for your boiler or you might be able to buy one for your entire HVAC system.
You do have other options if your homeowners policy won't cover the damages. Purchasing a home warranty will cover many problems you may encounter if your boiler starts to break down. Your boiler may also have its own warranty you can use. You may also consider a home appliance insurance policy that is meant to insure items that are hardwired into your home's electrical system. It's also important to know what your deductibles are as well.
Have questions about your homeowners policy and broken boilers? Contact the agents at CF&P Insurance Brokers today. We work with our clients to help them find the answers to all of their insurance questions. When it comes to your boiler, proper maintenance is only part of the equation. Knowing what is included in your policy and which perils may apply to a boiler breakdown. Our insurance agents can help you learn about your policy and make sure you understand what it contains.