Iāve got a friend that has a horse and also works for a pet insurance company; from my understanding no, itā not cost effective for issues like this.
I have colic/injury on my guy for anything major; I pay $25/month for that and find it worth it. Otherwise, I just have a separate savings account that I chuck money into for everything else. I have still paid my fair share of in vet bills in full for diagnostics/meds/exams etc. Once you use it, on something big or small, then you have to deal with premium increases and future coverage/preexisting conditions.
Iād rather pay $700 out of pocket and hold off on the insurance to use if a $7,000 bill comes along.