Close Menu
Insurance Journal – Property Casualty Insurance News

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    How the Next Financial Crisis Starts

    July 4, 2025

    Insurance Underwriter Title Resources Group Appoints Natasha Branch as VP of Education and Underwriting Counsel

    July 4, 2025

    Supreme Court Rejects Challenge to Obamacare Preventive Care Coverage

    July 4, 2025
    Facebook X (Twitter) Instagram
    Insurance Journal – Property Casualty Insurance NewsInsurance Journal – Property Casualty Insurance News
    Facebook X (Twitter) Instagram
    SUBSCRIBE
    • Home
    • Business Insurance
    • Identity Protection
    • Life Insurance
    • Pets Insurance
    • Property Insurance
    • Vevehicle Insurance
    Insurance Journal – Property Casualty Insurance News
    Home » Nationwide Pet Insurance Drops Thousands of Policies, Leaving Owners Scrambling
    Pets Insurance

    Nationwide Pet Insurance Drops Thousands of Policies, Leaving Owners Scrambling

    insurancejournalnewsBy insurancejournalnewsFebruary 25, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    After 14 years of coverage, Heidi Verock’s dog, Donut, is facing a serious health crisis and a sudden loss of insurance.

    “We bought into your promise of it’s on your side and their not,” Verock said, expressing shock at the notice she received from Nationwide. Donut is battling cancer, and Nationwide’s coverage had made chemotherapy more manageable.

    “It would be $800-900 when she would walk out and and then we would go 2-3 weeks later for the same thing,” Verock explained. The cancellation went into effect in July. Finding alternative coverage has proven nearly impossible due to Donut’s age and pre-existing conditions. With no other options, Verock is now budgeting to cover the increased financial burden.

    “It’s going to be a tough pill to swallow. It’s just unfortunate that we were dropped at this point,” Verock said. “We’ve had such success with them. I don’t know what we’re going to do.”

    Verock and Donut are not alone.

    Nationwide made the decision not to renew approximately 100,000 pet insurance policies this year, according to a company statement. Though Nationwide declined an interview, the company stated, “We are making these tough decisions now so that we can continue to be here for even more pets in the future.”

    The company partially attributed the decision to the escalating expenses of veterinary care.

    “Costs are going up and insurance companies are trying to keep pace with that and plan for the future because they don’t know how much costs are going to rise the 10 years,” explained Harrison Stenson, a licensed pet insurance advisor at Angell Animal Medical Center.

    Stenson confirmed he is assisting many pet owners dropped by Nationwide and seeking alternatives. “Nationwide has put a lot of policy holders sort of up the creek without a paddle and its really unfortunate,” Stenson explained. He highlighted that the rise in vet costs makes insurance even more critical for owners. “There have been a lot of advancements in veterinary medicine so the costs associated with training staff to keep up with that and implementing that technology is unfortunately high sometimes,” said Stenson.

    Stenson doesn’t foresee many other policies being dropped or other insurance companies following suit.

    Becky Chakarian, a pet owner, shares similar concerns. “I don’t know what the next policy renewal year might bring. If god willing, my dogs are still alive and healthy at 13, I don’t know what kind of coverage they might have,” she said.

    Chakarian has insured her three dogs with Nationwide for years. While none of her pets lost all coverage, premiums were raised for one dog, and coverage decreased for another.

    “I think we just felt a little betrayed,” Chakarian said. “To have that sort of taken our from underneath us as our dogs are turning 12 it felt like a punch to the gut.”

    Chakarian estimates the changes will result in an additional $3,000 in vet bills annually.

    “Our dogs, their health is our priority, so we’ll make it happen but it pains me to think of folks who don’t have flexibility to make that happen on a fixed budge. The decision that they are making are going to be really heartbreaking,” she said.

    Stenson recommends that pet owners unable to find coverage set aside the equivalent of their monthly premiums in a savings account for pet care. Additionally, options like CareCredit and Scratchpay allow owners to spread out payments over time. Stenson also mentioned the American Kennel Club might have options for Massachusetts owners with pets under eight years old.

    Owners facing pet insurance issues can file a complaint with their state’s division of insurance.

    Nationwide pet care pet insurance veterinary costs
    insurancejournalnews
    • Website

    Related Posts

    Is Pet Insurance Worth It? Experts Weigh In

    July 3, 2025

    Best Pet Insurance for Pre-existing Conditions

    July 3, 2025

    ASPCA Pet Health Insurance Review: Coverage, Cost, and Claims

    July 1, 2025
    Leave A Reply Cancel Reply

    Don't Miss

    How the Next Financial Crisis Starts

    By insurancejournalnewsJuly 4, 20250

    The Financial Times offers various subscription plans to access quality journalism, including the FT Edit app and exclusive newsletters.

    Insurance Underwriter Title Resources Group Appoints Natasha Branch as VP of Education and Underwriting Counsel

    July 4, 2025

    Supreme Court Rejects Challenge to Obamacare Preventive Care Coverage

    July 4, 2025

    Pioneers in Autonomous Vehicle Insurance Poised for Growth as Industry Evolves

    July 4, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Our Picks

    How the Next Financial Crisis Starts

    July 4, 2025

    Insurance Underwriter Title Resources Group Appoints Natasha Branch as VP of Education and Underwriting Counsel

    July 4, 2025

    Supreme Court Rejects Challenge to Obamacare Preventive Care Coverage

    July 4, 2025

    Pioneers in Autonomous Vehicle Insurance Poised for Growth as Industry Evolves

    July 4, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Demo
    New

    Montana Eyes Workers’ Comp for First Responders with PTSD

    February 24, 2025

    Best Home and Auto Insurance Deals for Veterans

    February 24, 2025

    Pennsylvania Insurance Department: Protecting Consumers and Regulating the Insurance Market

    February 24, 2025
    Categories
    • Business Insurance (1,819)
    • Identity Protection (522)
    • Life Insurance (1,725)
    • New (5,587)
    • Pets Insurance (517)
    • Property Insurance (985)
    • Vevehicle Insurance (463)

    How the Next Financial Crisis Starts

    By insurancejournalnewsJuly 4, 20250
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Insurance Journal News. Designed by Insurance Journal New.

    Type above and press Enter to search. Press Esc to cancel.