From a pure cost standpoint the numbers are clear. In general, over the life of a pet, insurance is not financially beneficial. (but neither is car insurance, I've paid $500 every 6 months for 30 years but have not had $30,000 worth of claims)
The researched AVERAGE numbers are pretty conclusive. You'll pay more in insurance than an average lifetime of vet bills would come to(not including routine care). But that is not what insurance is for. It's just that, insurance. It's to cover against that possible $1000 to $10,000 bill that comes from a broken leg or other costly injury or illness that you would otherwise be a hardship to pay.
I also have Petplan (Gold Plan) but seem to be a little pricier than others here. $223 per year. $200 deductible, then covers at 100%.
advertising and reward for lost cat $500
loss due to theft or stray $500
Death from illness or injury $1000
Vacation Cancellation. $1000