Kenny Phillips
Final Approach
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- Jul 29, 2018
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Kenny Phillips
Should I buy it? No, the real question is why didn't I buy it! I was gonna buy this as a rider to my homeowner's insurance, but a few years ago the local energy company gave everyone a few months for free to entice them to buy it from them. Nobody bought, so they dropped the product. And I forgot about it.
Fast forward to my spinning water meter, a grossly inflated bill, and a 480' foot service line that has had (according to the neighbors) six repairs, one by me, and even though it's been dry, I couldn't find the leak this time (I own a backhoe). Now it's rained for two days, so no finding it now. It's about $500 to have a professional find the leak, with no 100% guarantee.
So ... the cheapest estimate for total water line replacement, cash payment, is $10,800.00. Not a good time for this (never is!)
If I had paid the three bucks a month (or whatever it is), I'd have a $500 deductible, $10K limit. I didn't see a 'betterment clause', but I'm guessing that most lines aren't as long as mine. My local insurance agent believes that they may have merely patched this leak, who knows. But at least I wouldn't have to pay to find the leak and spend eight hours fixing it.
Moral: buy the insurance (after making sure you will come out ahead in a ten-year span.)
Just venting, because I can.
Fast forward to my spinning water meter, a grossly inflated bill, and a 480' foot service line that has had (according to the neighbors) six repairs, one by me, and even though it's been dry, I couldn't find the leak this time (I own a backhoe). Now it's rained for two days, so no finding it now. It's about $500 to have a professional find the leak, with no 100% guarantee.
So ... the cheapest estimate for total water line replacement, cash payment, is $10,800.00. Not a good time for this (never is!)
If I had paid the three bucks a month (or whatever it is), I'd have a $500 deductible, $10K limit. I didn't see a 'betterment clause', but I'm guessing that most lines aren't as long as mine. My local insurance agent believes that they may have merely patched this leak, who knows. But at least I wouldn't have to pay to find the leak and spend eight hours fixing it.
Moral: buy the insurance (after making sure you will come out ahead in a ten-year span.)
Just venting, because I can.