Lets see. I have insurance on my console and games under home owners (my mothers) so I would get reimbursed and all I would lose is the memory on my system. The rest I would get back to me, or money equal to their value at time of payment (depreciation included).
So the dog would be much harder to replace, and as such is a living being. I would save it cause it would be my friend, and if you ask anyone who owned a dog they really cared for, if that dog dies/runs away/is killed/given away/etc. then you cant just simply go out and buy another dog and expect things to still be the same.
Machines =/= Friendship from a loving pet.