MSE News: Water users sold 'unnecessary' pipe insurance

Former_MSE_Helen

This is the discussion thread for the following MSE News Story:

"Most of the UK's biggest water companies are promoting potentially unnecessary supply pipe insurance says Which?"

Read the full story:
Water users sold 'unnecessary' pipe insurance

[Deleted User]

Just like PPI reclaims, I can imagine supply pipe insurance reclaims rocketing. (SPI's?)

Rupert_Bear

travellingbum wrote: »

Just like PPI reclaims, I can imagine supply pipe insurance reclaims rocketing. (SPI's?)

If thats the case I'll keep mine going and may get some compensation from the provider.

lesstoinvest

I got these letters, was surprised anyone was foolish enough to sign up for them though.

stugib

Worth pointing out that the free pipe repair scheme entitles you to one repair only. After that you're on your own.

[Deleted User]

Thames Water offered me a WPI (Water Pipe Insurance) as well, but as I'm a non-smoker, I politely declined.

Stephen_Leak

At least no-one's calling it Pipe Protection Insurance.

teggyboymoll

When we moved into our present Bungalow 5yrs ago there was a huge water leak between the water meter in the pavement and the rising internal main this was not coverered by Southwest Water & approx.£1000 of water had leaked into the front garden.We had bought the Bungalow from an Estate of an elderly widow and has we could prove that the water was on when we twice viewed the property the Solicitor acting for the Estate arranged a repair which took 2 days and involved 2 men plus equipment.We don't know what the final account was but we have Insurance Cover to protect us fron further failers of the water supply from the Meter to the Rising Main & consider a few pounds a month cheap for peace of mind as our house insurers tell us they would not cover any further work.:j

grandma247

I rang our buildings insurance company and she told me we would not be covered for wear and tear repairs but were covered for that with homeserve so she advised us to keep paying. My next door neighbours had a serious problem with their drains and it cost them in excess of £2000 because they had no insurance to cover the drains.

System

lesstoinvest wrote: »

I got these letters, was surprised anyone was foolish enough to sign up for them though.

Ive had a collapsed drain repaired under this scheme, something neither my home insurance or water company would deal with so im happy to be one of the fools paying under £40 a year for this insurance !!

HappyMJ

If I took out insurance on everything possible I would have no money left for anything else. This insurance is £42 per year and is only worth it if you claim. The chance of claiming according to them is low...8% of homeowners have had an emergency "at some point" and the pipe will usually be replaced for free anyway (once only). Buildings insurance will also usually cover burst pipes as well and replace for free. So why have this insurance?

I am taking the risk and self insuring for this eventuality.