Industry News from Yes Insurance

Homeowners who use oil-powered boilers are being urged to make sure their home insurance covers them against leakages.

The Environment Agency has issued a warning to oil boiler users claiming a leak could cause hundreds of thousands of pounds worth of damage.

Over one million people in the UK use oil to fuel their homes and the agency wants to get the message across that without taking precautions an accident could be devastating.

Homeowners are encouraged to check with their insurance provider to see if they are covered against a leak.

If they are not, the agency is strongly advising people to take out a new insurance policy.

Richard Martin, the Environment Agency's Oil Care campaign manager, says that in the case of a leak "homeowners are left footing the clean-up costs of around £10,000, but occasionally bills can go over £100,000".

In addition to the obvious financial costs of a leak, the Environment Agency is also warning those who use oil boilers about the potential for water contamination.

"It would only take one litre of oil to contaminate one million litres of drinking water if it entered a water source and so the Environment Agency is urging homeowners to be more aware," added Mr Martin.

Despite the safety warnings, Mr Martin does not believe oil is a dangerous fuel to have in the home, as long as it is properly looked after: "When stored securely oil is a good source of fuel," he added.

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