Nationwide Insurance Cancels 100,000 Pet Insurance Policies
Nationwide Insurance has decided to cancel 100,000 pet insurance policies. The company cited rising veterinary care costs and other financial pressures as reasons for this decision. Affected customers have already started to receive notifications.
This move forces pet owners to either pay for medical expenses out-of-pocket or find a new insurance provider. This can create challenges for pet owners. Insurance expert Hailey Neff notes that finding a new policy can be difficult.
“That can be really frustrating for many people who had those nationwide policies that they got their puppy in five ten years ago, they are like going to be looking at paying more for a new insurance provider,” said Neff.
Switching providers also means dealing with waiting periods, which can range from days to months, before the new coverage begins.
Neff recommends pet owners explore ASPCA policies, especially if they have older pets. The ASPCA has no age restrictions and offers competitive pricing.
“The ASPCA has no age restrictions or coverage restrictions for older pets, it also ranks in the top five for affordability,” said Neff.
Neff suggests that owners view this as a chance to find a policy that better meets their requirements, even if it means exploring different options.
“It might not be the end of the world for a lot of these people getting dropped by Nationwide, they might be able to find a plan that is more affordable, have better customer service. I would just look at this as an opportunity to find a provider who is going to fit your needs,” said Neff.
This situation underscores the importance of comparing pet insurance options and being prepared for potential changes in coverage.
While dealing with policy cancellations can be stressful, researching alternatives can lead to finding a more suitable and cost-effective plan.
