Duke Energy hot water heater insurance

Last night the hot water heater decided to start leaking in the garage. About a year or so ago, I signed up for the insurance for the hot water heater through duke energy, 6 dollars a month, $144 dollars thus far in 2 years. In addition to the water heater leaking, the valve for the water input broke, so I could not cut off the water at the tank. I had to cut it to the entire house.

With the leak from last night, I called the 800 number, and they had a plumber out here this afternoon. He was able to replace the valve on the spot, so at least now I have water in the house. Tomorrow they will come back and replace the entire unit. Out of pocket it cost me $50 for a new expansion tank (not covered under the insurance). So in total, the new system is costing me $194. You cant get a 50 gallon hot water heater for that price anywhere.

One line of fine print is that you must have the policy for at least 90 days before a claim can be made. I believe it also covers service calls, up to $850. There is no penalty for cancellation of the policy.

Just thought I would share this with everyone. It has been pretty painless and smooth thus far. Worth looking at if your hot water heater is starting to get old.

If I had Duke power I would save my money by not buying insurance on a water heater. When it went out, I would just go To Lowe's or Home Depot and get me a new water heater for $400. I have had one for 13 years and one for 9 years and neither one has went out yet, look what I have saved! $936 on the 13 year old water heater, $648 on the 9 year old water heater. $1,584 total. Somebody always trying to sell you something!

One of the best insurance policies on a water heater is to change your anodes every couple of years. The water heater rusts when the sacrificial anodes are used up.

I live in a double wide mobile home since 1981.I had to replace the water heater back in feb 2014 because it started leaking.
That's 33 years of service if I figured right.

herman said:

I live in a double wide mobile home since 1981.I had to replace the water heater back in feb 2014 because it started leaking.
That's 33 years of service if I figured right.

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$2,376, how many water heaters will that buy?

Why are you heating your hot water?

I knew this was coming ^^^

Jack's PA said:

Why are you heating your hot water?

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Because if you don't, it becomes cold water.

When I changed my hot water heater out 2 summers ago it had been in use for 13 years. I went and paid less than $275 for a 50 gallon heater and installed it. I really don't see where I need insurance on it..Our hot water heater only comes on 4 hours each day, I have a timer on it and we never run out of hot water..

I think what 624 is saying, do not buy one from new, but if your unit is 8-10 years, might be worth looking into. Then cancel after the replacement

chevync20 said:

I think what 624 is saying, do not buy one from new, but if your unit is 8-10 years, might be worth looking into. Then cancel after the replacement

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THANK YOU.....If your unit is getting old and looks like its gonna go soon, this is a good option. IF its new and has years of life in it then NO. I have no intentions of keeping this policy after next month. I have every intention of keeping up with the maintenance of the new unit. Unfortunately I could not go back in time and complete maintenance on the unit from the prior owners of my home to prevent it from failing prematurely as it has.

624c said:

THANK YOU.....If your unit is getting old and looks like its gonna go soon, this is a good option. IF its new and has years of life in it then NO. I have no intentions of keeping this policy after next month. I have every intention of keeping up with the maintenance of the new unit. Unfortunately I could not go back in time and complete maintenance on the unit from the prior owners of my home to prevent it from failing prematurely as it has.

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Maybe you could start a psychic service like Miss Cleo. Where you could tell if a water heater is going bad, and market that to the people interested in this. Infomercial and all! JK

1-900-624-psych