Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care.
The move comes as other types of insurance, from homeowners to vehicles, are increasingly becoming harder to obtain for many Americans.
“We certainly empathize with the disappointment many of our pet families feel and will fully stand by the protections for which they have paid through the end of their current term,” Nationwide said. It’s been an expensive year to keep up with insurance, adding to the influx of high prices hurting American families’ wallets.
The home insurance market is also falling apart. Climate change is increasing the frequency and severity of extreme weather such as hurricanes, storms and wildfires. Insurers, especially in areas most impacted by extreme weather, are raising their premiums, or pulling out altogether, impacting the affordability and availability of home and fire insurance.
Nationwide Insurance Nationwide Pet Insurance Pet Insurance
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