[latchkey]

Exactly this! People think they are spending $25/month and getting full coverage in case something happens, but the reality is that if you have a fairly healthy pet, you're just better off self-insuring and putting that money into an interest bearing account instead.

The insurance companies have done all the math and are counting on you making an emotional decision.

[zargon]

I self-insured my previous cat. About a year after she passed of cancer, when I felt I was ready for another pet, I did the math for insurance. I would have paid a lot less with the insurance plan I found. So my new cats have insurance.

The costs for my previous cat were heavily skewed to the end of life period. But if there is ever an an accident or other emergency situation during their youth, the insurance would work out even more favorably. If I never end up having to use it, all the better.

[latchkey]

You can't get insurance for an end of life cat. The comparison doesn't work against a young healthy pet. If you never have to use it, you've just wasted a bunch of money.

Don't think you can outsmart rooms full of people who are doing the math against much larger volumes of input data.

[zargon]

My comparison is to a young healthy pet who reaches end of life, as pets tend to do. I did the math, including interest on self-insurance savings and deductibles and co-pays. In my circumstance, insurance would have saved me thousands of dollars. Of course, I might not have needed it. Or it might have saved me $20,000. It's risk management. Pay a medium amount to hedge against the possibly having to pay an exorbitant amount.

[latchkey]

No $25/mo insurance is going to pay out $20k, they all have maximum caps.

That's also 800 months of payments and your cat isn't going to live to 66 years old.

[zargon]

My insurance policy does not have any maximums. Your second sentence is nonsensical.

[latchkey]

Which insurance is it?

  20000/25=800
  800/12=66