When water freezes it expands 9 percent, and if there is no room for expansion it’s possible that the pipe will burst. When the ice thaws the pipe will leak, and in the supply system this leak could occur anywhere. Fixing a burst pipe can be expensive, but the damage from uncontrolled water leakage can easily reach into the thousands of dollars. Believe me, you do not want to experience the hassle and expense of having a pipe burst and spraying water all over your basement, or anywhere in your home.
A properly-insulated house built to current building codes will probably never experience this problem under normal conditions. What do I mean by normal conditions? The heating system runs properly, the electricity supply stays on, and the furnace fuel supply never runs out.