Is pet insurance worth getting?

I have asked a couple of questions already regarding pet insurance, but I just want to flat out know if it would be worth getting or a waste of money? I have 9 (8 right now but will be getting an australian shep. puppy soon to make 9 total) animals but only 8 that are eligible to be on pet insurance. They are: A 5 yr old dachshund, 7 yr old dachshund mix, *soon to have* 9 week old australian shepherd puppy, 3 yr old cat, 2 yr old cat, and 3-1 yr old cats. Every month I buy flea treatments and heartworm prevents. And once I get my aussie puppy I will have to get her the puppy shots and the whole 9 yards with her. The two that I am leaning toward are: *ASPCA pet insurance and the plan I would get would be the Level 4 Coverage which covers accidents, illness, wellness and wellness deluxe-which would cover the flea and heartworm products. It has an annual deduc of $100 which will only have to be paid once a year per pet...not incident. A max incident benefit of $5,000. And a max yearly benefit of $13,000. 80% reimbursements. And it would cost me around $526/mo. *VPI pet insurance and the plan I would get would be the Superior w/ CareGuard Premeir & Enhanced Cancer. It would cover common problems (vomiting/diarrhea, allergies, upper respiratory, skin infections, etc), panic-moments (hit by a car, attacked by an animal, foreign body ingestions, heat stroke, seizures, etc), expensive problems (back problems, cancer/tumors, cataracts, feline leukemia, etc), routine care (deworming, vaccinations, flea & heartworm, FELV/FIV tests or heartworm tests, etc), additional care (dental cleaning, spay/neuter, etc) and enhanced cancer care which increseases the policy's reimbursement benefits. This plan has a $50 per incident deductible. It would cost me around $348/mo for all of them to be on this plan. *Which do you think would be better? Or like I asked before, would it be worth it to even get pet insurance? Thanks!
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Picking an insurance plan: While cost of the premium is an important factor to consider, you must make sure that any plan you pick has good coverage. Getting a pet insurance plan without good coverage will leave you unprotected. Let me start out by saying that you want to purchase a plan that covers accidents/injuries AND illnesses. The illness part of the coverage must include: 1) Coverage for Cancer 2) Coverage for Chronic Disease Chronic diseases are illnesses that have long duration and generally slow progression. Chronic diseases are usually not curable. Examples include: cancer, heart disease, chronic kidney disease, and chronic liver disease. 3) Continual Coverage for Chronic Disease If you do not get this coverage, the chronic disease will only be covered in the policy year it was diagnosed, after that, you will have to pay for any continuing medications or diagnostic monitoring yourself. Treatment for most Chronic diseases will last beyond the first year of diagnosis. 4) Coverage for Hereditary & Congenital Diseases 5) Coverage for Diseases that are Common to your Pet's Breed Health issues that Australian Shepherds are prone to include (but are not limited to): Hip Dysplasia, Progressive Retinal Atrophy, Collie Eye Anomaly and Juvenile Cataracts (all of which are hereditary/congenital). Health issues that Dachshunds are prone to include (but are not limited to): Intervertebral Disc Disease (IVDD), various hereditary/congential conditions, hypothyroidism, and Cushing's disease. ASPCA does not provide coverage for congenital or hereditary conditions including hip dysplasia. Also, you must purchase Continual Chronic Disease Coverage as an add-on (It doesn't come as part of the Level 4 plan). Hypothroidism and Cushing's disease are considered Chronic diseases. VPI provides limited congenital/hereditary coverage, including NO coverage for hip dysplasia. In my opinion ASPCA and VPI will not provide you with the coverage you need based on the breed of your pets. They may have been cheaper compared to other plans, but they are cheaper due to the limitations in coverage. Is Pet Insurance Worth It: The sole purpose of pet insurance (or any insurance) is to offset an unexpected, financial hit. Whether or not pet insurance will save you money in the end depends on whether or not a costly medical problem arises during the life of your pet. Costly financial hits in veterinary medicine come in the form of: 1) Emergencies (e.g. Fractures, Accidental Poisonings, Foreign Body Ingestion, etc) 2) Chronic diseases (e.g. Heart Disease, Liver Disease, Cancer, Chronic Kidney Disease, etc) 3) Sudden, Severe Diseases (e.g. Pancreatitis, Leptospirosis, etc) The costs will vary based on geographical location. Big cities tend to have higher vet costs than rural areas. Start by asking your veterinarian "what is the highest cost you can expect from the three scenarios above". In big cities, these "Worst Case Scenario Costs" can range from $3,000 - $10,000. I have seen a case where the bill reached $20,000, but at this time this is more of the exception rather than the rule. If you can afford the costs out of your own pocket (using credit cards, savings, friends, etc) then you may not need pet insurance. If you cannot afford the costs, then pet insurance may be something you want to continue exploring. Hope this helps :-)
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