Does Insulating Heating & Water Pipes really help on the energy bill's? IS it worth the cost of the insulation?

Yes, without a doubt, especially on long runs or in crawl spaces. It will save fuel for hot water and also avoid sweating from cold water. Sweating pipes from cold water in hot months can cause mold and mildew that will not be covered by your home owners insurance.

Thanks, does it matter on which type of Insulation to use. I noticed two types at home depot. One was a foam style and the other type was a rubber style? The rubber style was a couple of bucks more, but it looks like you can ben it easier.

Have not used the rubber stuff, actually never saw it. The foam stuff is best if you buy the kind with a thin strip of cellophane that, when pulled, allows the two halves to seal. Seal corners and joints with duct or cellophane tape.
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