<prompt> Human: Random for PF, but I just got a notice that my pet insurance company changed underwriters and therefore are drastically switching plans. My annual premium is going up 110year, the reimbursed is dropping from 100 to 90, and the deductible is increasing from 200 to 300. Now, I instantly called to cancel. This to me just seems pointless. In the 5 years that I have had pet insurance I only made one claim - a raccoon attack. I got a measly 75 back. The reason I even have the insurance is in case something real major occurs. It seems like pet insurance is skyrocketing and the benefit is just not there. Any members here have pet insurance? What are your thoughts? Alternatively, would it make more sense to save the annual premiums I would normally pay in an easily accessible liquid investment account?Edit: Thanks, everyone. After all these thoughtful responses I canceled my cancelation. I may have overreacted to the changes, but comparatively Im still on a great plan. I dont ever want to be placed in a decision between saving my best friend and money.  <response>: It really depends on your pet, their breed, and their breeds associated health risks. For example, if you pet is a large lab at risk of hip dysplasia then carrying insurance would probably be prudent because treatment for that both greatly improves quality of life and is expensive. On the other hand, with an indoor cat without any breed specific risks, its probably not worth it as that animals risk of having major, costly issues before old age is low. Edit: a word 