I wish more people understood this. Insurance is an extra cost paid to protect from catastrophe. Anything that saves you money on a regular basis is not insurance: where does the extra money come from?

Pet insurance is another bizarre misunderstanding of this nature. Unless there are procedures you are unwilling to forego to save your pet, but completely unable to afford, you are throwing money away in the long run. The entire actuarial profession exists to ensure this fact. Take what you’d spend on premiums, and invest it in a good savings vehicle instead.