Hi! I have a question about cancelling pet insurance, while carrying and paying off a credit card debt. I am currently paying $125 CAD/month for pet insurance for 2 cats. It was the most reasonable pricing and with a company that has good coverage, but it doesn't include annual checkups, so I have to pay for those out of pocket anyway. My cats are young enough (7 and 5 years old) and healthy. I feed them half cheap wet food and half vet approved pet food (and I see a difference when I switch to all cheap food). My vet is very non-pushy and offers all sorts of options instead of pushing for tests and procedures (even when I had insurance). Also, for a full financial picture, I just lost ⅓ of my income for the upcoming 3 months, and also am trying to optimize my spending in general.
What I wonder is whether you guys think it is worth cancelling the insurance. I am still paying off consumer debt on credit cards so I feel it is rational to cancel and put this money (and other money I free up) into paying off my debt and covering expense. That said, I don't have too many savings so I will have to use a credit card if a medical emergency happens. I feel that the medical emergency is rather unlikely so canceling the insurance sounds more reasonable, but I know that if it happens, it could cost into thousands.
