I ran across this article about several cases where pet insurance did or would have made a difference in either these pet's lives and/or their owners pocketbook.
As the article mentions, there have been a number of new companies enter the market in the past seven years and many of the objections that pet owners had for not getting pet insurance for their pet no longer apply. Many of the companies now cover chronic and hereditary conditions, and as you can see from the article, the reimbursements can be significant.
I wrote a blog post recently about the best way to get a quote for your pet - especially since there are about a dozen companies that offer policies in the U.S.