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I have the Superior Plan with VPI. With Cody's hip dysplasia and some other problems, I used it a lot and saved a lot of money. When he was dying and in the emergency clinic for 2 days, it nearly paid my entire bill. I had to pay it first but got reimbursed. It doesn't cover ACL surgery, for example, because they think that it'll usually strike both knees eventually. I pay monthly. The rate increases yearly as the dog ages. Right now I pay around $29 a month and Thank God, except for shots and stool samples etc, haven't needed it.
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When I worked at the vet, about 10% of the clients had it and they were all happy.
I'd suggest it for younger animals, because we all get sick now and then.
If you insure an older dog, they request vet record and you can be denied or offered a plan with many limitations.
Good luck! I think its a very good idea! :)