Youve seen the ads for Homecare 200 and think it might be a good idea to insure against hefty repair costs for your heating and boiler systems. However, youre not sure what the alternatives might be. You could just not get any plan. You could switch to another company and use a similar plan, under some other name. Or, you could pick a different plan with British Gas that might cost less, but provide you more flexibility with your budget. There are alternatives for insurance plans for your energy systems, and here are just a few of those choices.
It depends on your lifestyle
If you are living pay check to pay check, any sudden economic shock could throw your budget off completely. This might demand that you get insurance to make sure that you can finance the cost of a new heating system or boiler, should they need to be replaced. Even if you only have to call someone out a couple of times to figure out what might be wrong, you will still be ahead of the game. However, if youre wealthier and can finance these costs on your own without a problem, and dont mind making those arrangements yourself, then it may make no sense to buy insurance. However, if you really dont want to be bothered and just want a number to call, then the plans can be good offered at any rate. Here are a few alternatives to that you can review to see if they match your needs.
1. Pay as you go That means that you dont opt into a plan at all. If you have a brand new system, you might not think you need insurance on it, although even these systems can have trouble. If you have an older system, they tend to have more problems and will need to be replaced eventually. However, if the cost of the premiums might be more than the cost of replacement and you can handle the out-of-pocket expense when it does happen, then you can do without the insurance. You can also take the premiums you would have paid, add them to an emergency fund. If nothing happens, you can either roll them over for the following year or use them to finance something you really want to spend on, should nothing ever happen.
2. Switch and take a different plan This will only work if your energy contract is due to come up for switching. Otherwise, you could trigger exit fees that will make it more expensive to get another service agreement with a different company. However, if you are due to switch and the contract is up, check out what other energy suppliers are offering. You may find there is a great deal of choice in the marketplace. You may also find you get a cash back offer for switching that will pay for some or most of the first years service agreement.
3. Opt for a different flavour of Homecare In fact, there are four different types of Homecare plans offered, Homecare 100, 200, 300, and 400. Homecare 200 is just the standard cover. They all offer different premiums for different services. Homecare 100 will exclude your heating system. Homecare 300 covers plumbing as well as the heating systems. Homecare 400 covers that and home electrics as well. Depending on your needs, you can find different plans with British Gas that get you just the right cover for your home.
When you first call, you may be offered the standard plan. Realize that this is just one out of many options you have to make sure you can finance repairs or maintenance that might occur during the course of the year. In some cases, you may not want to go for a high premium plan and you might not need to. Other times, when your system is older, you might anticipate that it will cause you more problems in the winter than before. If thats the case, then getting on plan can help you budget unexpected costs for callouts for service to your home. Some plans offer unlimited callouts and others may offer a charge per call. Its up to you what to get that will fit your finances and your lifestyle. It will be different for everyone, since not everyone has the same system, the same finances, or the same desire to get cover for items that they may or may not want repaired.
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