I am struggling with this right now. Canada is so expensive for pet insurance and when you have two cats the discount is very low. I almost want to get a third cat just to have a better discount hehehe. (My logic is pretty silly). I have looked into PetPlan and they actually look like the better plan, only way more expensive than other insurance companies. It's just that they cover everything
if you can afford the monthly fees. They also have other plans to choose from that are cheaper, but with only selected coverage.
I had a cat when I was younger who needed to have a tooth removed. At that time it cost $500. Now it's likely closer to $700... My parents at the time couldn't afford this cost and actually took out a loan from a bank, believe it or not. Then later my cat got diabetes and then something else was going on (I can't remember) and she needed an operation. The cost was way too much for my parents so they had her put to rest
Had they had the money she would have lived a bit longer, I suppose. But this is getting too sad to talk about so I digress...
So I am going to get insurance no mater what. I know that $50 a month per cat is not something we can afford. But in the long run, if the kitties need surgeries, teeth removed, etc. we can give it to them.
If I had the ability to save money I would keep an emergency cat fund, but I know I have trouble saving, so this is not an option. Plus, it would be just my luck that the cats would get sick before I have saved enough to cover it. So, yeah, for me insurance is the way. I think I'd rather have the security of knowing my kitty will be okay. It would ease my mind, not having to be extremely cautious and hypocondriatic.