As temperatures drop, home owners are being warned to check whether they have protection for their boiling and heating system.

Financial information business Defaqto found that of the home contents insurance policies on the market at the end of October, less than a fifth (19%) included cover for home emergencies, such as boiler breakdown, as standard. Buildings insurance doesn't necessarily offer an alternative, with only a quarter (25%) of the policies on the market providing cover for home emergencies as standard.

For those looking to protect their homes this winter, around half of contents and buildings insurance policies on the market offer 'home emergency' cover as an optional add-on.

Boiler breakdown insurance is specifically designed to protect a boiler against the cost of future breakdown. Primarily, these products cover the cost of any repairs to a boiler to get it up and running again but not necessarily replace it if it is broken, Defaqto says. There may also be exclusions based on the age and power output of the boiler.

Home emergency insurance, meanwhile, is designed to help people who have been affected by an emergency to make their home safe again or reinstate essential services. It offers more comprehensive cover than boiler breakdown insurance and can provide some peace of mind heading into the winter months when homes are at risks of central heating failure, burst pipes, electrical failure and roof damage caused by extreme weather.

Brian Brown, head of insight at Defaqto, says: "Modern boilers are expensive and the cost of having to replace one can be a nasty shock. If you don't have the funds to pay for this, then a boiler breakdown policy that includes boiler replacement, may be a good option for you."

Here are Defaqto's top tips to protect yourself this winter:

1. Check what cover you already have with your home insurance policy.

2. Check for any exclusions, such as the age or power output of the boiler and whether it needs to be regularly serviced or inspected.

3. If you bought your boiler within the last few years, check what cover the manufacturer gives as standard under the warranty, and check for any exclusions.

4. If you have a heating system that is powered by an electric boiler, solar or solid fuel, check whether your policy includes cover for this as many do not.

POUNDNOTES

Financial fact: NatWest's piggy banks celebrated their 35th birthday on December 5. Launched in 1983 as part of the NatWest piggy account, the family of ceramic chums were an instant hit with young savers with more than one million piggy banks issued in the first two years.

THIRD OF PEOPLE WHO RUN UP CHRISTMAS DEBT 'TAKE UP TO SEVEN MONTHS TO CLEAR IT'

Nearly a third of people who took out debt to pay for last Christmas took up to seven months to clear what they owed, according to a survey by Nationwide Building Society.

More than a third (36%) said the festive season last year left them in the red, leaving them with an average debt of £426. The average time taken to clear this debt was two-and-a-half months, although for nearly a third (32%) it took up to July - seven months.

SURGE IN PEOPLE FINDING OUT ABOUT PENSION SCAMS FOLLOWING CAMPAIGN LAUNCH

There has been a five-fold increase in visits to a website from people seeking information about pension scams, following the launch of a joint campaign by regulators. The Financial Conduct Authority (FCA)'s ScamSmart website, which allows people to check pension opportunities they have been offered and find out more about avoiding scams, is now being visited every 27 seconds typically.

The FCA and the Pensions Regulator (TPR) launched the joint drive to raise awareness about pension frauds in the summer. Victims of pension scams last year lost an average of £91,000 each to fraudsters.

RETAILERS FACE 'NERVE-WRACKING' RUN UP TO CHRISTMAS

A record £1 in every £3 of non-food purchases were made online in November, a report has found.

But aggressive promotional activity by retailers ahead of Black Friday failed to lure shoppers, with like-for-like sales in November decreasing by 0.5% on last year, the British Retail Consortium (BRC)-KPMG retail sales monitor found. Those behind the report said retailers now face a 'nerve-wracking' run-up to Christmas.