How do you know if the water pump is bad on a 1998 Pontiac Grand Am?

On the dash board display you will see a red light in the form of a downward arrow pointing to water. Eventually the car will overheat if not serviced immediately. Careful though. Most auto repair shops will try to con you into purchasing a new timing chain with tensioners which can be very costly. Timing belts or chains are not always worn to the point of replacement. On mine, the belt would squeal when I first started the engine. Oh yea, that puddle of coolant under the water pump was a clue also.