BowWow Meow Insurance

My son shared a link to a Barefoot Investor article about pet insurance. Here are their recommendations concerning insurance for pets:

1. Watch out for exclusions: Always read your policy carefully, and check to see what is excluded.
2. Choose a high excess: As with all insurance policies, the higher excess you’re willing to pay, the lower the cost of the yearly premium.
3. Only insure for things that can financially kill you: Make sure your policy covers claims for your pet being in an accident or falling ill. Pay for routine treatment out of your pocket.

Once upon a time I would have laughed at such insurance. But after seeing friends spend megabucks on surgeries for their pets I think that pet insurance might be a good option for some. My thinking is that one should consider such insurance if they are unwilling to allow their pets to die from cancers and other such diseases.

But personally I am not sure if I would buy such insurance. Would you?