It wears out because as you drive the float bouces up and down with the sloshing fuel.I am a licenced mechanic and I have replaced lots of senders. The float arm has to rub on the resistance wire all the time. Because most people keep their fuel tank toped up the most wear occurs at the one end of the resistance wire.When this wears out the sender loses ground and the circuit goes open.Bending anything won't help you because once the reading comes back again you are getting the correct reading, bending the float will throw that off and you really won't know how much is left.The only way to fix this is to replace the sender. The sj410 I just picked up is the same way, but at least it is accurate near empty.