{"id":2270044,"date":"2024-06-17T20:07:02","date_gmt":"2024-06-18T00:07:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nationwide-cancels-100000-pet-insurance-policies-due-to-rising-costs\/"},"modified":"2024-06-17T20:12:23","modified_gmt":"2024-06-18T00:12:23","slug":"nationwide-cancels-100000-pet-insurance-policies-due-to-rising-costs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nationwide-cancels-100000-pet-insurance-policies-due-to-rising-costs\/","title":{"rendered":"Nationwide discontinues 100,000 pet insurance policies amid escalating expenses"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnationwide-cancels-100000-pet-insurance-policies-due-to-rising-costs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2270044&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Nationwide insurance has\u2063 announced its plan to not renew around\u200b 100,000 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-defends-his-dog-after-biting-incident\/\" title=\"Biden Defends His Dog After Biting Incident\">pet insurance<\/a> policies amid surging veterinary costs. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/publix-drops-mask-requirement-for-vaccinated-workers\/\" title=\"Publix Drops Mask Requirement for Vaccinated Workers\">company attributed<\/a> these changes to inflation and other\u2063 economic pressures affecting the financial sustainability \u2062of their pet insurance operations. Nationwide assured\u200c that the decision \u200bto cancel policies is not based on the age, breed,\u2064 or claim history of\u2062 the pets. Affected \u2062policyholders are set to receive written notifications with the cancellations scheduled to occur between spring\u200d 2024 and summer 2025. This move comes at a time\u2063 when there are more than 5.5 million dogs and cats insured across the\u200c nation as of 2023.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>Nationwide insurance said it will not be renewing approximately 100,000 pet <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/insurance\/\" target=\"_blank\" rel=\"noopener\" title>insurance<\/a> policies due to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/prageru-why-are-utilities-so-expensive\/\" title=\"PragerU: Why Are Utilities So Expensive?\">rising costs<\/a> of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breitbart-business-digest-the-great-biden-inflation-disaster\/\" title=\"Breitbart Business Digest: The Great Biden Inflation Disaster\">veterinary care<\/a>. <\/p>\n<p>\u201cAs <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fun-things-to-do-this-weekend-in-orange-county\/\" title=\"Exciting activities in Orange County this weekend!\">pet lovers<\/a> ourselves, we understand the emotions connected to the protection of our family pets. Inflation in the cost of veterinary care and other factors have led to recent underwriting changes and the withdrawal of some products in some states \u2014 difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,\u201d Nationwide wrote in a <a href=\"https:\/\/news.nationwide.com\/nationwide-pet-takes-underwriting-actions-to-address-inflationary-pressures-and-other-factors\/\" target=\"_blank\" rel=\"noopener\" title>statement<\/a> on Friday.<\/p>\n<figure><figcaption>Dr. Lisa Walling greets her 13-year-old hospice patient, Rugby, a Newfoundland, in the dog\u2019s home in Bedford, New York, on Tuesday, May 7, 2024. (AP Photo\/Mary Conlon)<\/figcaption><\/figure>\n<p>The cancellations will not be made on the basis of a <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/ANIMALS\/\" target=\"_blank\" rel=\"noopener\" title>pet\u2019s<\/a> age, breed, or prior claims history, according to the statement. Policyholders will be notified in writing ahead of the cancellations, which will take place between spring 2024 and summer 2025.<\/p>\n<p>More than 5.5 million dogs and cats were insured in 2023, <a href=\"https:\/\/naphia.org\/industry-data\/section-2-total-pets-insured\/\" target=\"_blank\" rel=\"noopener\" title>according to<\/a> the North American Pet Health Insurance Association. Pet insurance can cover accidents, illnesses, or routine wellness costs, depending on the plan.<\/p>\n<p>Nationwide claims to be the largest pet insurance provider in the United States, <a href=\"https:\/\/www.usatoday.com\/story\/money\/2024\/06\/17\/nationwide-drops-pet-insurance-policies\/74089275007\/\" target=\"_blank\" rel=\"noopener\" title>according to<\/a> <em>USA Today<\/em>, with more than 1.2 million pets insured.<\/p>\n<p>\u201cI was willing to pay this very large amount to get this coverage because I love my dogs. They\u2019re my family. They are not like a car, or even a house, or a thing that can be replaced or rebuilt, they are important to me,\u201d Christie Keith, a freelance writer in Michigan, told the outlet. \u201cNo one else is going to take on old dogs with pre-existing conditions and even if they do they will exclude all of the pre-existing conditions. \u2026 I don\u2019t know what I\u2019m going to do.\u201d<\/p>\n<p>\u201cWe 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,\u201d Nationwide\u2019s statement said.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\"><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>Home insurance rates increased by an average of more than 11% across the country last year, CBS News <a href=\"https:\/\/www.cbsnews.com\/news\/homeowners-insurance-cost-rising-climate-change\/\" target=\"_blank\" rel=\"noopener\" title>reported<\/a>, and full coverage auto insurance has increased by 26% in 2024, <a href=\"https:\/\/www.cnbc.com\/select\/average-cost-of-full-car-insurance-went-up-in-2024\/\" target=\"_blank\" rel=\"noopener\" title>according to<\/a> CNBC.<\/p>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\" target=\"_blank\" rel=\"noopener\" title>economy<\/a> consistently ranks as one of voters\u2019 top concerns going into the 2024 presidential election.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nationwide insurance announced it will not renew around 100,000 pet insurance policies, attributing the decision to escalating veterinary care costs. The company expressed understanding of pet owners&#8217; emotional ties, citing inflation and other factors for the necessary underwriting adjustments and subsequent policy withdrawals<\/p>\n","protected":false},"author":3192,"featured_media":2270045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP24135766910492.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2270044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP24135766910492.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2270044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3192"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2270044"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2270044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2270045"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2270044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2270044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2270044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}