Service Line Warranty Insurance - Worth It?

[Brodie Hinkle]

There is a third-party insurance company that offers insurance to our water and sewer service lines in our city (Tulsa, Oklahoma).  Essentially, you pay around $6/month to insure your sewer service line up to the point of where it meets the structure of your home, and about $5/month to insure your water service line up to the point of where it meets the structure of your home.

I'm curious what others think about this service and if you think it's worthwhile to sign up for?  In the area that I invest, most of the service lines are between 50 - 75 years old and can certainly deteriorate over time and I know that the out-of-pocket expense to replace a service line can be quite pricey (some say between $2,500 and $4,000).  However, I know that when you have several rentals, it may be smarter to self-insure and not use the insurance.  I'm curious what others think.

Thank you!