Regular health insurance is for humans, pet insurance is for pets. Both types of insurance work in a similar way.
Rather than having to pay out of pocket for medical fees, surgery, or medicine, you simply pay a monthly fee to maintain insurance. Then, if your pet gets injured or falls ill, your insurance provider will cover a significant portion of the medical expenses. Not having insurance could result in thousands of dollars coming out of your own bank account if your pet falls ill or gets hurt.