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Registered
Join Date: Jun 2002
Location: Winnipeg, MB, Canada
Posts: 3,963
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You can lessen the damage by installing a water shutoff alarm. Water Heater/Tank Leak Detection and Automatic Shut-Off | North 42 Sales
No idea when you should toss the old tank. I don't worry about it as my basement is unfinished.
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Bunch of old cars 
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