Investing in a new boiler can cut as much as 40 per cent off your heating bill according to the Energy Saving Trust (EST).

All new boilers installed in the UK must now be energy efficient, A-grade condensing boilers. Condensing boilers reuse much of the heat lost through the flue by traditional boilers. By saving energy in this way, some are more than 90 per cent efficient - cutting up to £200 off your yearly heating bill.

Always look for the Energy Saving Recommended logo to ensure that your new boiler is as efficient as possible, and approved by the EST.

Although all boilers are now the condensing types, you’ll still have to decide whether you need a combination boiler - suitable for smaller homes that need less hot water, a system boiler - good for larger homes with a bigger demand for hot water, or an open vent boiler - which uses more space with a water tank in the loft. Because of their small-size and economical running costs, combination boilers are the best-selling boiler type for gas central heating in the UK. This system is good to provide warmth to the whole interior of a building.

The type of system you’re currently using, as well as how much space you have available will affect your choice of boiler.

It’s not just the cost of the boiler itself that you need to consider; there are work costs to think about too. Make sure that you always choose a qualified installer approved by Corgi, the gas safety watchdog, or Oftec, the oil safety watchdog to ensure a high standard of work.

You should expect to pay between £500 and £800 for a gas boiler, while oil ones will cost even more. However, your old boiler will need to be removed, the new one installed, and your heating system will also be power flushed to make sure it’s clean and in good working order. All this costs money but you’ll be able to get a quote from your installer before hand - which is why it’s good to shop around.

If you’ll struggle to meet the costs, there are loads of grants available from the Government, your local council and energy suppliers themselves. The EST website lists everything that’s available in your area and you should also look at the Warm Front website to see if you qualify for one of their grants or rebates.

Avoid a loan from your energy supplier - they charge somewhere in the region of 30 per cent - instead, look for a low rate loan from your bank.

Boiler cover stands you in good stead for emergency heating repairs, which otherwise can take a toll on your budget.

You can go for a boiler insurance to take good care of your boiler. More reassuring would be to take out a full central heating insurance to maintain it in a good working condition. Apart from the price, consider the extent of coverage you get out of it.

It is advisable to shop around to compare boiler cover rates. Otherwise, you would not come to know of good offers and may miss out on the best.