Both gas and electric water heaters have a pressure relief valve that can corrode and stick after being exposed to flood water. Be sure, therefore, to replace this valve as well. Next to space heating, water heating uses the most energy in the home. As with furnaces, new energy-efficient models are available. Insulation levels in new gas and electric water heaters are higher today than in the past.
Some utilities offer rebates on their purchase.
You may even be able to get a package deal from your heating supplier on a furnace and a water heater. And, as with furnaces, you may want to look at the operating costs of electric versus gas water heaters. Depending on your electric rates and availability of gas, a gas water heater can be cheaper to operate. Remember, too, that many different measures are available to reduce hot water consumption and thereby decrease water heating costs. A shower head flow restrictor can save as much as 6 gpm.