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The thing is though, if you have a coolant leak the water pump is going to keep pushing coolant through the engine until there isn't enough coolant left in the system (primarily the radiator), until that time you will most likely not notice any major change in coolant temperature and you won't get air in the engine until that coolant level drops severely at which point the engine will suddenly overheat with what seems like very little warning.
If there's no coolant in the engine, what does the sensor read? Is there a warning that goes off when coolant is low?