Traditional IRA contributions can be tax deductible or partially tax deductible based on MAGI. In 2014, an individual with a MAGI of up to $70,000 is eligible for at least partial deductibility. There are no income limits on who can contribute to a traditional IRA.
When the water heater breaks / leaks whatever the pressure tank is going to loose pressure telling the pump to come on and the pump will run continually as it can not build pressure to shut it off.
When water freezes within a pipe, the volume of the water expands. That is, the same amount of water takes up more space as a solid than as a liquid. This causes the pipes to expand and possibly break at a weak point. This may not be noticed immediately, however.