Suburban Water Service: Anybody Heard Of Failure?

[micky]

Does that mean they'll send the notice to someone else?

[micky]

Exactly.

[NotMe]

My experiance from the mains to the meter (including the meter) is the untility's problem. Short of an over pressure condtion anything on my side of the meter is my problem. I'm near 70 save some dumb contractor digging up the yard we never had a problem with a water line.

[larrymoencurly]

I know of only two instances, both at my parents' old house. A 20+ year-old galvanized pipe became almost completely clogged but didn't leak. Dad didn't know about copper pipe and didn't trust plastic, so he put in another galvanized one (we kids did most of the digging). That pipe developed tons of pinholes in a year, so Dad finally gave in and bought PVC, probably because it was a lot cheaper than copper. The PVC was still fine when the house was sold, 15 years later. Neither pipe replacement took that long, but things might be different in a colder climate with a deeper frost line.

[Ed Pawlowski]

Not here or where I lived in the past. From the main in the street was our responsibility.

[trader4]

I'm not sure this is even insurance. Sounds more like a service contract to me. Does every HVAC company that offers a service contract have to conform to the laws and licensing for insurance companies? Don't think so

[HeyBub]

No, but YOUR experience is a good guide for your neighbors...

[dgk]

I'm in NYC and the Water Board (or Department of Environmental Protection?) recently sent out letters offering insurance protection (through a private company) for water main and/or sewer pipe. Our houses are around 70 years old and maybe 10 years ago I heard water running when no water was running and it was my connection to the main. It cost around $3000 as I recall. It was called a Long Water Treatment.

Repairing a sewer line is much more expensive but also less likely to leak. Someone I know in DEP does recommend getting the insurance but I'm only willing to do the sewer one.

[willshak]

Depends upon what material your pipes are made of. It could be that your area has pipes made of tarred wood fiber which was made by the Orangeburg Pipe Company up into the 1970s when PVC pipe took over as a material for pipes. In recent years, this fibrous pipe began to fail due to crushing, roots, and other wear and damage.

[Tomsic]

You're right, of course. The folks offering the pipe "insurance" have calculated the chance of failure for your area and have set their rates accordingly. They'll do just fine.

If you're concerned about pipe (or any other) similar failure, the best way to finance possible repairs is to self insure by putting the so-called payment into a savings plan of some sort. Then you control it, make a little on the savings and have it when you need it. Since you haven't heard of any pipe failures, chances are you have time to accumulate enough money before your particular chance of failure goes up.

But, it's hard to do and hard to keep up enthusiasm for the idea -- just like setting up college funds, retirement funds and the like.

Tomsic

[Ed Pawlowski]

Good to know. I was worried about them.

When we had a young family, it was hard to save. Once you accumulate from about $5000 to $10,000 in cash or easily liquidated assets, you can cover most any household problem Appliance replacement, new roof, deductible on car insurance, etc. Even $1000 covers 90% of your potential problems.

[(PeteCresswell)]

Per Ed Pawlowski:

When I was stationed in Hawaii, I used to hitch-hike into Waikiki to go surfing almost every day of the week.

Two rides still stand out in memory.

- The sixty-something guy driving a beater car with a bunch of stainless steel cookware in the back seat ("RenaWare").

His story: "When I was young, I always drove a new car, always had plenty money for the girls... and now I'm past retirement age living hand-to-mouth selling cookware door-to-door".

- The somewhat-older guy (late seventies?) driving a new rental car and staying in one of the better Waikiki hotels.

His story: "All my life I've been a bartender. No retirement plan except for myself. I split every dollar I earned three ways: 1/3 for Uncle Sugar (taxes), 1/3 for savings, and 1/3 to live on.

I'm not rich by any means, but the world is my oyster."