I wanted to add a side note that I don't believe that all insurance types make sense in every situation. For example, I was presented with the option of buying pet insurance recently. I make enough that, for any given problem my pet might have, I can cover the expense. As such, there is no "catastrophic outcome" that would cause me serious financial harm. That, combined with the fact that the code of pet insurance is slightly higher than the expected cost for everything my pet needs, means it doesn't make sense for me to buy pet insurance. As such, I chose not to.

Admittedly, having it since we got her would have wound up saving us money overall, since she's had two CCL surgeries (at ~6-7k a piece). But the decision we made was based on expected cost and averages; so the choice me made was (effectively) a bet that didn't turn out to be the right one. But it generally _would_ be the right one given the facts we had at the time we originally got her.