Heating oil 'not covered' by insurance policies

26 August 2008

Heating oil customers have been urged to ensure they have adequate home insurance as thefts rise across the country.

According to Abbey Insurance, ten per cent of policies do not cover stolen oil, despite police reporting an increase in such crimes.

The insurer warned consumers to be vigilant as the heating oil market, which it says is worth around £1.56 billion per year, becomes increasingly attractive to thieves.

Head of sales and marketing Thierry Campet noted that prices had doubled since the beginning of the year, contributing to the emergence of a black market for domestic fuel.

"It is imperative that homeowners not only pre-emptively protect their fuel, but also have adequate insurance so that they do not find themselves footing the bill if the oil does get stolen," he added.

Police forces across the UK have reported a 222 per cent rise heating oil thefts this year, the Daily Express reported last week.

Click here to order a home heating oil sensor system