As winter tightens its grip, there couldn’t be a worse time to risk having no hot water, let alone ignore the potential outlay of funds that could be needed to fix a broken geyser. As hidden as your geyser may be in your roof, or tucked away in a cupboard, certain terms and conditions should not be far from sight, to stay on the right side of your short-term insurance. But without adequate cover, you could be at serious risk.
* Be clear about your cover. Your short-term insurance policy is there to help, but only if you manage it correctly. Don’t assume that having cover is enough. You must work within the rules for maintaining your geyser to keep it and adequately insured.
* Don’t bank on bursts. Some temperature problems and geyser bursts are the only issues likely to be covered by your insurer, but if your geyser is still under warranty, the geyser manufacturer will become involved. There can be delays, so working with an insurer who has a 24-hour assist service is your best option. If a claim is repudiated, the cost of replacing a geyser yourself could be dire.
* Don’t rely on your mortgage bond insurance. You might think if you’re paying off your property, everything - including your geyser - will be automatically covered by the built-in insurance that comes with having a bonded asset. This may be true for some, but it might factor in only how much you still owe on the property and can result in even more steps needed by you to progress an insurance claim. This is among the reasons working with an insurance adviser can help, as they will follow up as needed on your behalf. Advisers can also play an important role in directing clients to insurer-approved service providers. This is particularly useful, as it can be difficult to get a recommendation for a trusted tradesman.