Interesting, this was really not due to negligence.

So if they are found to be negligent it goes against there policy and not just yours?

I'm not a lawyer, but it sounds like a pretty easy negligence case. 

Also, make sure it is clear and in writing that they are financially responsible for any service/repairs to the boiler or damage done to the house (freezing pipes) due to their negligence in allowing the oil to run out. 

After a property is sold is would be difficult for them to trace back an electrical issue to you and try to hold you liable for it... unless you set some kind of electrical booby trap or had gross negligence such as knowingly installing fans and plugs that would harm a person.

Even with all that work it won't protect you from fraud or negligence and could still be pierced...So again, why bother with all this if none of that applies?

The difference of $60 is negligible.

Im sure i could wing it but I've come too far to screw this up from negligence.

Maybe I'd be responsible for something grossly negligent...like leaving my front door wide open while I wasn't home and someone walked in and stole it. 

The biggest problem in this type of situation is the threat the board feels when making decisions because of a potential personal liability if it is shown they are negligent.