Parts and labor plan sucks 20 years ago PGW replaced my water heater because I had a parts and labor plan. Now the plan does virtually nothing, but the cost is the same. They might replace a tiny gadget here, and another valve there, but nothing else. I am left holding the bag for a $1000 water heater. I was totally unaware of the change in the allowed coverage, but, hey, isn’t there what fine print is for?