Should you buy home gas line insurance?

Many homeowners are receiving offers from CenterPoint Energy for gas line insurance coverage. FOX 26 Consumer Reporter Heather Sullivan has some Smart Sense on what you should be on the lookout for.

Houston - Many homeowners have started receiving offers from CenterPoint Energy for gas line insurance coverage. And many are wondering, do I need it? Here's some Smart Sense on how to decide.

CenterPoint Energy is offering homeowners gas line protection through an arrangement it has with HomeServe USA Corp, an emergency home repair company.

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CenterPoint Energy is responsible for repairing the gas meter and the lines leading up to it. But homeowners are responsible for gas lines leading from the meter to appliances both inside or outside your home.

"Whether that’s a stove inside the house or a pool heater outside the house, that’s the homeowner's responsibility," explained Rick Plummer, Director of Business Management and Strategy for CenterPoint Energy.

Some gas meters are next to the house, but some are on the street, which means longer pipes.

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For $5.49 cents a month, HomeServe will cover up to $8,000 in repairs for wear and tear, and there is no deductible. Plummer says the average repair is $1,600.

"We’ve saved customers with these plans over $11 million in just three years," he said.

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But note, damage from negligence or an accident, such as someone damaging a pipe while digging in the yard, are not covered. So do you need it? We asked CenterPoint what to consider.

"The age of the home is one factor. So if you have an older home, there is a greater likelihood for these types of repairs to come up," said Plummer.

Before you buy, you should check your homeowner's insurance policy. While most policies do not include comprehensive gas line protection, you can buy it.

"Some homeowners policies, you can add that. So it may not be in the typical policy, but they may offer a rider or a separate policy," said Rich Johnson with the Insurance Council of Texas.

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Experts say the cost for a rider is comparable, $2 to $10 a month. But again, it may not cover accidents or negligence.

"You've got to look at each of those policies to see what it covers and what it doesn’t. Also, look at the deductibles," said Johnson.

If your home is newly built, you may have a home warranty that may cover gas line repairs. You can also buy a home warranty to cover gas line repairs plus other utility line and appliance repairs. Now it's a matter of doing the math.

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If you pay $5.49 a month for 20 years for HomeServe through CenterPoint, that's $1,317. That's less than the average repair cost of $1,600.

Also compare the cost to a homeowners insurance rider or a home warranty plan, plus any deductible you might have to pay.

Sullivan's Smart Sense Houston Consumer News