- Nationwide (a.k.a. Veterinary Pet Insurance or VPI is the oldest and largest pet insurance provider in the U.S. market, which was eventually bought by Nationwide) has 36.33% of the market share, according to the NAPHIA (North American Pet Health Insurance Association).
- As of May 2021, Nationwide was reporting that the pet insurance business had enrolled its one-millionth member.
Pitfalls
- A 12-month waiting period for coverage of common orthopedic ailments
- Nationwide pet insurance plans, when purchased through employers, are capped at an annual reimbursement rate of $7500.
- Read the fine print — if you can access it.
Our reporting in 2020 found that, according to at least a half dozen customer service agents, a directive was in place that company representatives should not provide sample insurance policies to prospective customers.
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https://www.petinsurance.com/images/VSSimages/media/pdf/VBW-I_VPI_011216_FINAL_SAMPLE.pdf
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The Whole Pet Contract does not contain the escape cancellation clause that is included in the less expensive, “Major Medical” policy, yet “Whole Pet” is no longer available except for members who were enrolled prior to the company’s axing of “Whole Pet.” These members are “grandfathered” to renewed plans.
Other Nationwide policies do contain cancel clauses. Specifics to follow.
Jack Stephens, DVM, founded Veterinary Pet Insurance (VPI) which was ultimately purchased by Nationwide. Stephens also founded Pets Best, now underwritten by Trupanion-owned underwriter, American Pet Insurance Company.
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Private. According to company SEC filings, National Casualty Company (“NCC”) is a wholly-owned subsidiary of Nationwide Mutual Insurance Company (“Nationwide”). VPI offers its policies outside of California through NCC.