Richard, I used to have that same heat. Oil furnace, which heated water which circulated through the baseboard heaters.
They got hot to the touch on occasion, and that could certainly be hot enough to melt insulation. Best to come up with a creative way of overinsulating the cords, for instance with the foam stuff that you insulate a water pipe with. In any case, you'll want to keep a vigilant eye on the installation.
tommaso