Is Exterior Water Service Line Coverage Worth It
Is exterior h2o line insurance a ripoff?
I received a letter from HomeServe proverb I should pay them $55 a yr for outside h2o service line coverage, saying my homeowners insurance may not cover information technology in the event of a pause/leak.
I did a bit of reading and some say it's non really worth it because breaks are so rare, and HomeServe itself is associated with negative reviews.
What do you guys think? $55 a year isn't going to break me, merely neither is a couple m in the rare example I take a problem, and so...?
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level ane
Pro Insurance Tip: if they approach you unsolicited then information technology's not worth information technology.
level 1
Insurance is but prepaying for a possible problem. If y'all're in a frost zone, brand sure your fixtures are properly installed and working. So have the $55 and go have dinner somewhere prissy once a twelvemonth.
Also Look at your policy to come across what else they exclude. I've never had information technology.
level 2
$55 dinner somewhere nice? That's 2 people at red Robin these days.
level 1
I didn't buy this insurance. Got a major leak in the supply line on my side of the water meter. Called a plumber. $450 later, it'due south good every bit new.
It's simply costly if they have to re-run the whole line for some reason because information technology's been destroyed. Otherwise, it's an inconvenience.
I wouldn't purchase the insurance.
level 1
Pass. H2o line rather unlikely to fail. Sewer line another story however.
level 1
Not certain if there is different coverage for h2o line vs. sewer line. Just as for sewer line, I bought information technology considering my firm is 30 years old and others in my neighborhood accept started to go bad. It's like a $6k repair from what the neighbors tell me and then I figure it's worth it.
In a newer firm I think the odds of failure are pretty small.
level 2
Septic system, no sewer lines. This was patently for the supply line from the road.
level i
I would simply call my amanuensis and ask them if that detail incident would be covered. Make them piece of work for my money a flake.
level 1
They sent the letter of the alphabet out of the blue? Practice y'all already exercise concern with them?
The answer is no to Any unsolicited letters y'all become in the mail.
level ii
They continue sending me letters reminding me that I oasis't got the insurance. I call bullshit.
level ane
$55 a year isn't going to break me, but neither is a couple 1000 in the rare case I accept a problem
Insurance is for the things y'all can't beget to replace/ cover or would crusade a major financial hardships, such equally a fire destroying your whole house or repairs+medical due to a car accident.
Otherwise yous are just buying piece of listen. Insurance companies brand money so they have to collect more than money than they pay out. On average there'south no reward for you.
level two
Equally someone that worked in insurance, this.
You lot'll notice people that say information technology saved them money, sure, just mathematically that'due south a minority of customers.
This company, though, sounds shadier than virtually insurance companies. Tread carefully.
level one
Just no on the insurance. Aye it'southward a rip off
level one
Can but speak for sewer line insurance. I have old clay pipes and multiple copse almost by. We had snaked our lines three times at $150 a pop over the class of three years. I bender the insurance and they have snakes information technology twice since. More than paid for itself already.
level 2
If you have clay, expect a repipe. A lot more.
Is Exterior Water Service Line Coverage Worth It,
Source: https://www.reddit.com/r/homeowners/comments/7ojshb/is_exterior_water_line_insurance_a_ripoff/
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