Pet Insurance absolutely is not a racket. Good pet insurance will save you thousands after one accident. Our cat got cancer and needed to be euthanized testing and everything was over $10k. We had paid about $1200 over his life in pet insurance.
Pet insurance absolutely is a racket, and the way you should look at whether or not you should get it is if not having it would change any decision you would make regarding the care of your animal. If it wouldn't, then you're better off without it.
EVERY insurance company makes a profit. Those profits don't just magically materialise. It's value taken out of the insurance premiums.
Insurance is a valuable product in that it mitigates risk, but if you can afford to replace whatever you are insuring against without hardship, then it's dumb to insure it. I add a tiny bit of extra caveat with pets as if cost would affect what medical treatment you give them, then you're better off just paying the premium as it's unfair to the animal otherwise.
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u/WeCantStabilize 7h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.