In a recent announcement, Nationwide Insurance revealed that it will be canceling pet insurance coverage for approximately 100,000 customers between the spring and summer of next year. The decision has been attributed to the escalating costs of veterinary care and other factors that are impacting the profitability of the company's pet insurance business.

One affected customer, Christie Keith from Michigan, expressed her concern to USA Today after having to pay a hefty $600 per month in pet insurance premiums for her dogs. This amount was later increased to $700 to include coverage for her four-year-old Silkan Windhound. Keith disclosed that she finds Nationwide's move troubling, especially considering the medical treatment her older dogs require. One of her dogs recently underwent hospitalization due to an undiagnosed illness, while the other received treatment for a back injury.

Keith expressed her love and attachment to her dogs, stating that they are part of her family and cannot be easily replaced. The cancellation has left her uncertain about how to handle the medical expenses for her older dogs, particularly since it is difficult to find providers who will cover pre-existing conditions.

According to NerdWallet, pet insurance is held by 24% of pet owners in the United States. This type of insurance offers coverage for various medical procedures and treatments, depending on the specific policy. Kimberly Palmer, a personal finance expert from NerdWallet, emphasized that pet insurance can bring peace of mind to pet owners, protecting them from unexpected financial burdens related to their pets' health issues.

Nationwide claims to be the leading pet insurance provider in the United States, insuring over 1.2 million pets for medical coverage, injuries, and accidents. The company expressed empathy towards the disappointment felt by many pet owners and assured that the coverage for which they have paid will be honored until the end of their current term. Nationwide further stated that its rates will continue to be fair and appropriately priced considering the plan, pet, and breed.

Customers affected by the cancellation will be notified according to state law through written communication, as mentioned in the company's release.

This decision by Nationwide Insurance raises concerns among pet owners nationwide and highlights the importance of researching and understanding the terms and conditions of pet insurance policies to ensure comprehensive coverage for their beloved pets' medical needs.