There are two key issues in the safety assessment of the water distribution system (WDS). One is how to evaluate the safety levels of water supply for customers, while the other is how to describe the importance of a pipe for the global or local WDS. The water demand guarantee rate (DGR) and the water demand failure rate (DFR) are proposed. The mathematical expectations of the DGR and DFR describe the average customer’s water safety levels for the first issue. Moreover, the unit influence of pipe failure (UIPF) is put forward for the second issue. It describes the importance of the pipe for the global or local system. Several cases show how to calculate the above values with the pressure-driven model. It is also shown how to find key pipelines in the WDS. The results show that the method can provide an effective reference for real-life WDS management.