It's a common mistake thinking that pet insurance is a new thing. The first policy was actually written in the late 19th century. It's important to point that out because as a potential buyer you need to know this industry has had its time to grow up and learn its own tricks and it's your job to see through each of those.
Being able to tell which policies benefit the insurance companies and which benefit you is a daunting task. Writers are hired to cleverly word points to mask the downsides and the self interest that the company does not want you to see.
To illustrate this point I'll give you a few examples:
You decide to get insurance on your mischievous dog, you're worried that his tendency to weasel his way out of your yard will cause him to get hit one day and you want to make sure you'll have the money to help him through it . You get an insurance plan and one day when it does escape it almost gets hit. Thankfully the driver swerves out of the way and misses your dog. Unfortunately he also hit a parked car and through your particular contract offers no liability insurance so now you will end up paying a fortune. Did you know your insurance should cover you for that?
For another example you buy a brand new puppy and decide that you'd better insure it right away. What you failed to realize is that neutering your puppy and vaccinating it was considered elective procedures and are not covered by your insurance plan. Now not only are you paying for insurance, but you're also still paying for procedures that could have been covered had you even known about electrical procedures.
Lastly did you know that if your pet has previously been through a certain procedure that if you do not have the right plan the insurance company can refuse your pet going through the same procedure again?
Do not be fooled into thinking it will be simple because it is pet insurance . The fact of the matter is that you are buying insurance, and like every other kind of insurance you can buy it comes with it's quirks and back-aches.
Finding the right plan can often be a difficult time depending on the needs of you and your pet, and to make matters worse finding the wrong plan for a few years then switching is more likely to make the cost go up with the age of the pet . Pet insurance can be tricky business!