I had to repair the mains pipe to my property a few months ago, while it was still my responsibility. The household insurance covered it, but I had to pay a £100 excess. However, TW also hands out grants to make sure the repair is done - in my case I got about £200, so made £100 on the deal. The grant goes to the householder even if the work is paid for by insurance.
I assume the cost of those grants came out of our collective water bills - so thanks everyone! I also assume that not paying out those grants wil represent a saving, albeit a small one, under the new ownership rules.
Oh, and they identified the leak by listening through a rod. They said it is particularly hard to do when water usage is high and there is traffic. Hence the midnight listenings.