<prompt> Human: Almost 8 years ago I was super excited to get a puppy. I was a bit of a financial mess at the time, naive and Ill admit a bit stupid. Thinking I was doing a good thing for myself and new dog I purchased a pet insurance planned VPI Pet Insurance At the time they advertised a 50 deductible and that 90 of the vet fees were covered for their superior plan so of course I signed up for the superior plan. I also signed up for their wellness plan which does not have a deductible but reimburses for some annual expenses like check-up, bloodwork, fleatick meds and so on. I always figured the insurance was something that would pay itself off as she got older and I would be thanking myself for having it. Well I have just experienced my 2nd huge vet bill in which I barely got reimbursed 364.23 reimbursed for 1,623.55 in vet bills. The funny thing is this was for a biopsy of a mass and had it come back positive for cancer we would have be reimbursed more. The fact that it came back benign changed the reimbursement about. So I did some calculations. Since I have gotten Grayce: I have paid the insurance company 3,990.35 43.80 a month. Grayces total vet bills have been a whopping 5,299.88 VPI has paid me 2,113.71So yes Im an idiot and have paid out 9290 to only be reimbursed barely 2,000. I kept saying the insurance would pay me back in the long run when she got older..but really..WILL IT? Do I just need to call myself a sucker and as my dog is entering her senior years cancel the insurance? I think of all the what-ifs she gets cancer or some other thing they actually will cover but I guess if she doesnt I should be considering what if she doesnt Ill be paying for it anyway? If I did cancel it I would plan to take the money Im paying for her insurance and put it into our savings account. The other options are to lower her coverage or just keep the wellness coverage I think thats only like 10 a month and has no deductible and coverage is very straight forward. These are their coverage plans. They have re-done their plans since I joined 8 years ago. Thanks for any input. TL;DR: After paying pet insurance for 8 years do I throw in the towel and cancel it even though my dog is entering her senior years. So far I have paid out of my pocket thousands more than I have been reimbursed.  <response>: Insurance will always lose you money on average. Thats how insurance companies make money; they know the odds of them paying out, so they charge just enough to make money. This is true for all things you can buy insurance for.So why should you ever buy insurance? To protect yourself from catastrophe. You get home insurance because on the off chance that something does happen to your house, it could ruin you financially. 