Hot Water Heater- Replace or Repair?

[Eric Andrews]

I had an electrician address a problem with my hot water heater, he fixed the wiring, but referred me to a plumber to replace the heating element and thermostat. The plumber wants to replace the entire unit for $2,800 (no idea where he came up with that number) because "it's 10 years old and parts are going to continue to break."

To replace all of the parts except the storage tank would cost less than $200, and only $40 for what I need to replace now.

Am I missing something?

Thanks, - Eric