Hot water tanks last 10-15 years on average now a days. The inside of the tank is difficult to see inside to truly know when a tank will leak which can potentially cause a flood. With the cost of finished basements now a days, many insurance companies like to see the hot water tank replaced every 10 years regardless of its current condition. Considering Furnace Family can install a 40 or 50 gallon tank for 1699/1799 plus GST, this is a much cheaper option than risking thousands in flood damage or insurance premiums going up.