Paul Sanchez
Veterinary Pet Insurance (VPI) was the first company to offer pet insurance in the US. In 2009, Nationwide acquired VPI and retired the brand in 2015. Since then, Nationwide has sold over a million policies and become a popular provider due to its comprehensive coverage. Nationwide offers accident and illness coverage, and customers can configure their deductible and reimbursement rate to fit their budget and needs. The company also offers two levels of optional wellness coverage, which can be added to its Accident & Illness coverage or purchased separately. The wellness plan covers routine care for pets under the age of two, and reimburses 50 to 90% of the vet bill when a pet gets sick or injured unexpectedly. While pre-existing conditions are not covered, medications are covered under the Nationwide plan, as one customer review mentions reimbursement for their dog's heartworm medicine.
| Characteristics | Values |
|---|---|
| Company Name | VPI Pet Insurance (now Nationwide) |
| Year Founded | 1980 |
| First Policy | For canine TV celebrity Lassie in 1982 |
| Annual Coverage Limit | $5,000 |
| Reimbursement Rate | 50% to 90% of vet bills |
| Deductible | $250 to $500 |
| Wellness Plan | Can be added to Accident & Illness coverage or purchased separately |
| Waiting Period | 365 days for orthopedic conditions |
| Exclusions | Pre-existing conditions, non-prescribed pet services and supplies, expenses unrelated to veterinary services, oral health conditions existing before the policy's effective date, cruciate ligament or menisci damage during the first term, experimental or illegal diagnosis or treatment, conditions caused by war, rebellion, insurrection, nuclear radiation, or radioactive contamination, cosmetic procedures not covered by selected coverage types, breeding-related veterinary expenses, surgeries or procedures not associated with an eligible condition, veterinary expenses when the policyholder or family member is the treating veterinarian |
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What You'll Learn
VPI Pet Insurance reimburses 50-90% of vet bills
VPI Pet Insurance, now known as Nationwide Pet Insurance, offers comprehensive coverage for pets. It reimburses 50-90% of vet bills when a pet gets sick or injured unexpectedly. The reimbursement rate can be configured to fit the needs and budget of the pet owner. For example, a customer with the Whole Pet Plan with Wellness had their German Shepherd treated for severe hip dysplasia. The total bill for surgery and pain medication was $7600, but with a $250 deductible and 90% reimbursement rate, they got $6590 back.
The amount reimbursed depends on the type of incident requiring coverage. For instance, there is a 365-day waiting period for coverage of orthopedic conditions. Additionally, there is a mandatory waiting period before coverage becomes effective, which varies by insurance provider. VPI Pet Insurance/Nationwide has a good reputation for its customer service, with reviews mentioning fast payback and helpful, empathetic, and knowledgeable representatives.
The cost of VPI Pet Insurance depends on several factors, including the breed of the pet, age, and the desired level of coverage. There is a minimum enrollment age of 8 weeks and a maximum enrollment age of 20 years. The company offers two levels of optional wellness coverage, with annual benefits of $450 and $800, respectively. The wellness plan can be added to the Accident & Illness coverage or purchased separately.
VPI Pet Insurance/Nationwide does not cover pre-existing conditions, non-prescribed pet services and supplies, expenses unrelated to veterinary services, and alternative care unless prescribed by a veterinarian for a covered condition. It is important to note that all pet insurance policies are subject to price increases annually.
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Pre-existing conditions are not covered
VPI Pet Insurance, now known as Nationwide Pet Insurance, does cover medications. However, it is important to note that pre-existing conditions are not covered. This is a standard exclusion in pet insurance policies, and it applies to both medical conditions and specific treatments or procedures.
When enrolling a pet in a medical plan, it is crucial to understand the terms and conditions of the policy, including any exclusions and limitations. Pre-existing conditions are defined as any illness, injury, or condition that your pet has been diagnosed with or shown symptoms of before the policy's effective date. This exclusion period typically lasts for a set time after purchasing the insurance, and it can vary depending on the condition and the insurance provider.
In the context of VPI/Nationwide Pet Insurance, pre-existing conditions are explicitly excluded from coverage. This means that if your pet has been previously diagnosed with or treated for a specific condition, any future expenses related to that condition will not be reimbursed by the insurance company. It is worth noting that VPI/Nationwide offers comprehensive coverage for accidents and illnesses, but pre-existing conditions are a notable exception.
The exclusion of pre-existing conditions can have significant financial implications for pet owners. It means that if your pet has an ongoing health issue or a chronic condition that requires regular medication or treatment, you will need to cover those expenses yourself. This exclusion aims to prevent pet owners from purchasing insurance only when their pets are sick or injured, ensuring that insurance providers can manage risks and keep premiums affordable for all policyholders.
While pre-existing conditions are not covered, it is important to understand the specific terms and conditions of your policy. Some providers may offer limited coverage for pre-existing conditions after an extended waiting period, or they may provide coverage for certain types of pre-existing conditions with higher premiums. Additionally, some policies may cover medications or treatments for pre-existing conditions if they are deemed necessary for the management or prevention of the condition's progression.
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VPI offers a wellness plan
VPI Pet Insurance, now known as Nationwide Pet Insurance, offers a wellness plan that can be added to its Accident and Illness coverage or purchased separately. The wellness plan covers routine care for pets under the age of two, as they tend to require more wellness visits at this age. The plan also covers veterinary services or expenses related to pre-existing conditions, treatment before the policy effective date, complications or progression of excluded conditions, and behavioural training that is not medically necessary.
Alternative care, such as acupuncture, chiropractic, and holistic treatments, is also covered by the wellness plan if prescribed by a veterinarian for a covered condition. Additionally, VPI's Accident and Illness coverage allows pet owners to configure their deductible and reimbursement rate according to their budget and needs. Reimbursement rates can range from 50% to 90% of the vet bill, depending on the plan chosen.
It is important to note that VPI's wellness plan is not available in every state, and there may be waiting periods before coverage for certain conditions begins. For example, there is a 365-day waiting period for orthopedic conditions. Pre-existing conditions are generally not covered, and there may be exclusions or restrictions on certain benefits.
VPI Pet Insurance has received positive reviews from customers, who commend the company for its low prices, excellent customer service, and clear outline of covered and non-covered illnesses. The company was the first to offer pet insurance in the United States, and it continues to be a popular choice for pet owners due to its comprehensive coverage and close ties to the veterinary community.
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VPI has a mandatory waiting period before coverage
VPI Pet Insurance, now known as Nationwide Pet Insurance, has a mandatory waiting period before coverage. This means that when you sign up for a policy, you must wait a certain period before your coverage becomes effective and you can claim reimbursements. The length of the waiting period depends on the type of incident for which you need coverage. For example, the waiting period for orthopedic conditions is 365 days.
The mandatory waiting period is a standard feature of pet insurance policies and is designed to protect insurance companies from fraudulent claims. It gives the insurance company time to review the pet's medical history and ensure that any conditions that arise during the waiting period are not pre-existing. This waiting period also allows the insurance company to assess the risk associated with insuring a particular pet.
During the waiting period, pet owners are responsible for covering all veterinary expenses. Once the waiting period ends, VPI Pet Insurance will reimburse a percentage of your vet bill, typically between 50% and 90%. The reimbursement rate you receive will depend on the specific plan you choose and the level of coverage you select.
It is important to note that VPI Pet Insurance does not cover pre-existing conditions. Any conditions that occur during the waiting period will be considered pre-existing and will not be covered by the insurance. This exclusion of pre-existing conditions is a standard practice in the pet insurance industry and is intended to mitigate the risk for insurance providers.
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VPI offers a multi-pet discount
Veterinary Pet Insurance (VPI) was the first company to offer pet insurance in the US when it was founded in 1980. It was acquired by Nationwide in 2008 or 2009 and the VPI brand was retired in 2015. Today, VPI offers pet insurance under the Nationwide brand.
VPI offers wellness plans that can be added to its Accident & Illness coverage or purchased separately. The wellness plan covers routine care for pets under the age of two, which is recommended due to the high number of wellness visits at this age.
VPI reimburses 50 to 90% of your vet bill when a pet gets sick or injured unexpectedly. Once your deductible is met, VPI will pay your insurance claim at the policy's pre-set reimbursement rate up to the pre-defined benefit amount. VPI does not allow customers to customise their deductibles.
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Frequently asked questions
VPI Pet Insurance, now known as Nationwide Pet Insurance, covers medications. Customers have left positive reviews, citing that the insurance helped cover their pets' maintenance meds and heartworm medicine.
VPI Pet Insurance offers a wellness plan that can be added to its Accident & Illness coverage or purchased separately. The wellness plan covers routine care for pets under the age of two, as well as older pets. The Accident & Illness coverage includes orthopedic conditions, bilateral conditions, and hereditary conditions.
The reimbursement amount depends on the deductible and reimbursement rate selected by the customer. VPI Pet Insurance typically reimburses 50% to 90% of the vet bill.
