>>5007194>not having insuranceThere are plenty of awful insurance products you don't need, but skipping certain kinds of insurance just because they're not required by law, or only getting the minimum required by law can really bite you in the ass. I carry a lot more car insurance than required by law because of how ruinously expensive someone else's medical bills can be if you're at fault in an accident.
OP, I got a dog a couple months ago and decided against pet insurance. The insurance I looked at would have been about $800 a year and only kicked in for big things like hip surgery or cancer. Something like hip surgery isn't cheap and can cost anywhere $2000-6000, but I could pay that out of pocket if I had to. Since my breed has fairly low risks for big problems like that and her parents and grandparents are all healthy dogs I decided it would probably be cheaper to skip pet insurance.
If you don't think you'll be able to afford paying out of pocket for something like a broken bone or surgery for your cat, pet insurance might be a good idea. Before buying any, make sure to carefully look over what it covers, where you can use it (does your vet accept it), and understand what a deductible is.