If you own a pet, you might have noticed changes in pet insurance. In 2025, Nationwide Pet Insurance is making big changes. These changes are due to rising vet costs and inflation.
About 100,000 pets will lose coverage. The pet insurance industry has seen a 16.7% increase in insured pets last year. The global market is expected to reach $33.57 billion by 2030.
Understanding these changes helps you make better choices for your pet’s health and your budget. Knowing about new pricing models and wellness benefits ensures your pets get the care they need.
Key Takeaways
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Nationwide Pet Insurance will stop renewing 100,000 policies. This mostly affects older or high-risk pets. Look for other insurance to keep your pet protected.
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A new pricing system changes costs by age, breed, and location. Check your policy to see how these details affect your price.
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Routine care plans now include shots and teeth cleaning. Adding these plans can stop big health problems later.
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Discounts are available if you have two or more pets. Put all your pets on one policy to save money.
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Preventative care is important, with rewards for vet visits. Take your pet to the vet often to avoid surprise bills.
Non-Renewal of 100,000 Policies
Reasons Behind the Non-Renewals
Rising costs of veterinary care and inflation
Vet visits have become very expensive. The costs of vet care and inflation have made it hard for insurance companies to keep premiums low. Nationwide Pet Insurance is adjusting its policies, including non-renewing some.
This change reflects the financial strain of providing coverage. It also shows the increasing demand for pet insurance.
Challenges in maintaining previous coverage options
Nationwide’s recent underwriting changes also play a role in these non-renewals. As the company evaluates its risk and cost structure, it’s clear that some older policies no longer align with their updated business model. Maintaining the same level of coverage for all pets has become unsustainable. These adjustments aim to ensure the long-term stability of their insurance offerings.
Impact on Policyholders
Who is affected by the non-renewals
If your policy is being dropped by Nationwide Pet Insurance, you’re not alone. Around 100,000 policies will be affected, mainly those with older or higher-risk pets. This means you’ll need to explore other options to ensure your furry friend stays protected.
Steps to find alternative pet insurance coverage
Start by researching other pet insurance providers. Look for companies that offer similar coverage to what you had before. Compare costs, benefits, and exclusions. You can also ask your vet for recommendations. Many providers specialize in covering senior pets or those with pre-existing conditions. Acting quickly ensures there’s no gap in your pet’s coverage.
Nationwide’s Communication and Support
Timeline for policy cancellations
Nationwide has already begun notifying affected customers. If your policy is up for non-renewal, you’ll receive a detailed timeline outlining when your coverage will end. This gives you time to prepare and find a new provider.
Resources provided by Nationwide for affected customers
Nationwide is here to help during tough times. Their claims team is ready to answer any questions. You can start claims online, through their app, or by phone.
The company has a history of supporting its customers. For example, they donated $100,000 to the American Red Cross Disaster Relief Fund. This shows their commitment to helping when needed.
Adjustments to Premium Pricing
Introduction of Tiered Pricing Models
Pricing will now depend on pet age, breed, and location. Younger pets or those with fewer health risks might get lower premiums. Pets with health issues or in high-cost areas might see higher rates.
This change aims to make pricing more personalized. It reflects your pet’s unique needs.
The new system offers different coverage tiers. This lets you choose a plan that fits your budget and your pet’s health needs. It’s important to understand what each tier covers to avoid unexpected costs.
Increased Premiums for Older Pets
Older pets may see a big increase in premiums. Senior pets need more medical care, which costs more. Nationwide has adjusted its pricing to cover these higher risks.
This change ensures they can offer coverage for pets of all ages.
Here are some tips to manage costs with older pets:
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Budgets are your buddy: Create a detailed budget for your pet’s needs to keep expenses under control.
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Assess the options: Check out community clinics or animal welfare organizations for affordable services.
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Knowledge is power: Learn about your pet’s health risks and nutrition to make informed decisions.
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Pet Insurance: Stick with insurance to handle unexpected medical bills.
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Preventive care is key: Regular check-ups and vaccinations can prevent costly health issues later.
Discounts and Incentives
New discounts and loyalty rewards are available. Households with two or three pets can get a 5 percent discount. Four or more pets get a 10 percent discount.
These savings help insure all your pets without breaking the bank.
To qualify for these discounts, enroll all pets under one policy. Loyalty rewards are also available for long-term customers. Ask about these incentives to maximize your savings.
New Wellness Benefits and Preventative Care Options
Addition of Routine Care Packages
Coverage for vaccinations, dental cleanings, and annual exams is now available. This adds to the preventive care options for pets.
Nationwide Pet Insurance is making big changes in 2025. They’re adding routine care packages to their plans. These packages include important services like vaccinations, dental cleanings, and annual exams.
Regular check-ups help keep your pets healthy. They also prevent expensive medical bills later on. For example, dental cleanings can stop gum disease and serious health problems. Vaccinations protect your pets and your family from deadly illnesses.
How to add wellness packages to your policy
It’s easy to add wellness packages to your policy. Just renew or update your insurance and choose these benefits. The cost varies from $150 to $400 annually, based on the services.
Even though it’s an extra cost, the benefits are worth it. It’s like investing in your pet’s health and happiness.
Focus on Preventative Care
Incentives for regular check-ups and preventative treatments
Preventative care is key in Nationwide’s new wellness plans. They offer incentives like lower premiums or discounts for regular check-ups. This makes it easier to focus on your pet’s health without spending too much.
Regular vet visits can catch problems early. This saves you money on more expensive treatments later.
Benefits of preventative care for long-term pet health
Preventative care does more than save money. It keeps your pets healthy for longer. Treatments like flea, tick, and heartworm prevention can prevent serious issues.
Keeping vaccinations up-to-date also prevents deadly diseases. This ensures your pets live happy, healthy lives.
Implications for Policyholders
How to maximize the value of wellness benefits
To get the most from these benefits, schedule regular vet visits. Use all the services in your plan. Don’t skip annual exams or dental cleanings.
If you have multiple pets, consider enrolling them all. This can save you money with multi-pet discounts.
Steps to enroll in new wellness programs
Enrolling in these programs is simple. Review your policy and talk to Nationwide Pet Insurance about adding these benefits. Keep track of your pet’s appointments and treatments.
This ensures you’re using all the services. Staying proactive helps you get the most from your coverage while keeping your pets healthy.
Nationwide Pet Insurance is making big changes in 2025. They’re not renewing 100,000 policies and adjusting insurance costs. They’re also introducing new wellness benefits.
Reviewing your current insurance is key to understanding these changes. They affect how you manage your pet’s coverage.
If your policy is affected, look at other pet insurance plans. Nationwide’s changes include age restrictions and exclusions for certain treatments. It’s important to evaluate your options carefully. Here’s a quick summary of key takeaways:
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Key Takeaway |
Details |
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Age Restrictions |
Pets older than age 10 may not be eligible for new enrollment. |
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Exclusions |
Certain conditions and treatments are not covered. |
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Company Changes |
Recent changes make it harder to know what plans are available. |
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Waiting Periods |
Varies by condition; e.g., 14 days for accidents, up to 12 months for some injuries. |
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Coverage Options |
Limited to accident, accident and illness, and two levels of wellness care. |
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Risk-Free Cancellation |
Policyholders can cancel at any time, with a refund possible during the Free Look Period. |
Take action now. Update your policy, enroll in wellness programs, and explore alternative plans if needed. Staying proactive ensures your pets receive the medical care they deserve without unexpected insurance costs.
FAQ
What should I do if my policy is non-renewed?
Start by researching other pet insurance providers. Compare their coverage, costs, and exclusions. Ask your vet for recommendations. Acting quickly ensures your pet remains protected without a gap in coverage.
Why are premiums higher for older pets?
Older pets often need more medical care, which increases costs for insurers. This adjustment helps companies manage risks while continuing to offer coverage for pets of all ages.
How can I prepare for a high emergency medical bill?
Consider adding wellness packages or accident coverage to your policy. These options help cover unexpected costs. You can also set aside an emergency fund to handle sudden expenses.
Are routine care packages worth the cost?
Yes! Routine care packages cover essential services like vaccinations and dental cleanings. These prevent costly health issues later. Investing in preventative care keeps your pet healthier and saves money over time.
What happens during a pet health emergency?
Contact your vet immediately. If you have insurance, check your policy for emergency coverage details. Many plans help cover emergency medical bills, reducing the financial burden during stressful situations.