No, cost-benefit-wise, it isn't: it makes more sense to buy a generator and have it handy. Even if you have to replace it every 10 years, you're still ahead. I'm not being entirely callous here, either: I live in Dallas and just lived through 3 days of intermittent power and heat and it sucked a lot. I'll be investing in a power generator in a few months (when they become available again). If half the homes in Texas had been able to switch to their own generators for a few days, the grid would have been able to sustain the remaining load.
The worse problem we have down here is water, and there's not a whole lot an individual can do about that: if we're going to collectivize the winterization of anything, I'd rather it be the pipes.