| Author |
Message |
    
seidperson
Citizen
Username: Seidperson
Post Number: 36
Registered: 4-2002
| | Posted on Thursday, December 25, 2003 - 10:51 am: |     |
We got a flyer in the mail from NJ American Water for a program whereby you pay five bucks a month and if your water line ever bursts (the one that runs between the street and our home), they'll pay for repairs.
IS this a common problem? Should we shell out the money?
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algebra2
Citizen
Username: Algebra2
Post Number: 1520
Registered: 5-2001
| | Posted on Sunday, December 28, 2003 - 9:32 am: | |
I paid it. Last year a neighbor had their water line burst and was very thankful to have the insurance. After I heard that I called NJ American right away, better safe than sorry. |
Richard O'Connor
Citizen
Username: Roconn
Post Number: 50
Registered: 6-2001
| | Posted on Monday, December 29, 2003 - 5:14 pm: | |
I am paying for this and I think for the 60 bucks a year its worth it.
When they raised our main pressure this year, 2 of my neighbors had to have major repairs done ... both had the plan ... neither paid anything ... and I think both got faster service than a third neighbor without the plan.
Its 5 bucks a month on what is probably a less than $50/month bill ... negligible in my 'big scheme o things ... 
Richard (ROC)
--Never be afraid to try something new. Remember, amateurs built the ark; professionals built the Titanic.--
--AIM: ROConn |
wnb
Citizen
Username: Wnb
Post Number: 70
Registered: 8-2001
| | Posted on Friday, January 2, 2004 - 10:06 am: | |
Basically you're placing a $5 bet each month that your pipe's going to burst. As in all gambling, the odds are stacked in favor of the house.
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monster
Citizen
Username: Monster
Post Number: 62
Registered: 7-2002
| | Posted on Friday, January 2, 2004 - 10:51 am: | |
if your pipe does burst, and you don't have this insurance, it will cost you more than what you would have paid for a few years of the insurance. Perhaps quite a few years.
I'll keep paying, as with all insurance, you've lost the gamble, unless you need to use it. |
Richard O'Connor
Citizen
Username: Roconn
Post Number: 65
Registered: 6-2001
| | Posted on Tuesday, January 6, 2004 - 10:43 am: | |
At $60 a year ... it would take close to 17 YEARS to spend what ONE crack leak or burst will cost to have fixed.
Its that whole code thing ... they can't just patch it if it starts to leak, they have to bring it up to code and that is going to cost over $1000 (based on what one of my neighbors had to pay this summer when they raised the pressure.)
This seems like a pretty good gamble (or really cheap insurance) to me.
Richard (ROC)
--Never be afraid to try something new. Remember, amateurs built the ark; professionals built the Titanic.--
--AIM: ROConn |
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