Financial comparison service uSwitch.com has warned that British consumers could face significant repair bills if they fail to cover themselves against boiler breakdown as the winter months approach.
The company is convinced that many people around the country will neglect to insure themselves against this eventuality and will collectively pay close to £64 million to have their heating systems repaired.
Indeed, uSwitch.com suggests that the problem could be particularly widespread given the levels of personal finance and debt management pressure being faced by millions of consumers.
Ann Robinson, director of consumer policy at uSwitch.com, commented: “Household budgets are stretched so tight that it’s very tempting to try to make a quick saving by not bothering to cover things like your boiler.
“Unfortunately this small saving can end up costing you dear – if your boiler packs up this winter you are likely to be facing a £500 bill, plus the misery of trying to get somebody out quickly to sort it out for you.”
Earlier this year, a report from the Consumer Credit Counselling Service suggested that the burden of debt management difficulty is increasingly shifting to more elderly generations in the UK.