Is home emergency cover worthwhile?

Is home emergency cover worthwhile in Australia and UK depends on age of home, risk and whether you have savings for emergencies. Home emergency cover costs $50 to $150 per year as add-on to building insurance or $150 to $400 standalone, covering 24/7 call-out for burst pipes, blocked drains, electrical failure, heating failure, broken locks and roof leaks, with repair up to $500 to $1,000 per event. For old homes over 20 years with old plumbing and wiring, it is worthwhile because emergency plumber call-out alone costs $200 to $500 plus parts $100 to $300, electrician $200 to $400, locksmith $200 to $400, so one emergency per year can cost $500 to $1,000, more than cover cost $100. For example, burst pipe at night can cause water damage $5K to $20K if not fixed quickly, so emergency cover provides fast response preventing bigger loss. For new homes under 10 years with new plumbing and appliances under warranty, it may be less worthwhile as breakdown less likely and you may have savings $1,000 to $2,000 for emergencies. For landlords, it is worthwhile as tenants can call emergency helpline without landlord having to arrange, reducing hassle. In UK where boiler breakdown common, 1 in 4 boilers break down per year, emergency cover worthwhile. So home emergency cover worthwhile for old homes, landlords and those without emergency fund, as $100 per year versus $500 per emergency call-out saves money and provides 24/7 peace of mind.