kontonnz: The thing that annoys me the most is where is the redundancy, for these services to be so reliant on single point of failure is shocking but also seems to be the normal, let's be cheap and not have redundant systems. I hope they consider financial remediation of some sort, especially as vector should have public liability got this type of thing.
Does your contract with them have SLA's?
If so you'll have a valid case. No residential service is going to offer SLA's simply because most end users aren't willing to pay the required cost for one. If you're a business user then it's a different case entirely and you'll find many ISP's who offer SLA's for business customers because they're willing to pay the requires price to offer such a service.
IMHO if internet is mission critical to you and you don't don't have SLA's or have your own redundancy in place that's your problem, not your ISP's.