A dual stage plug assembly 10 which provides a first sealing stage which is cooperatively provided by the insertion members 12, 14 (including the unexpanded portion 24) and a second sealing stage which is provided by selectively expandable member 24. The plug assembly 10 is selectively inserted into a hole, such as hole 80, which is formed in a tangible entity, such as basement wall 82, and the members 12 and 14 cooperates with member 24 to seal the hole 80, thereby preventing water and/or other liquid from entering and passing through the hole 80.