I'm not sure why I have not yet done something about my water pipes in the basement...but am finally getting around to insulating them for better efficiency. It seems to me that there is probably a lot of heat loss coming from the old Axeman oil boiler too. Would it be a good idea to insulate the housing of the unit much as you would an electric water heater? Of course I would be sure not to obstruct any air openings, etc. but am I risking condensation that would rust our the boiler housing?