Country’s largest pet insurance provider drops thousands of pet insurance policies due to spiraling costs in vet care

Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care.

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The move comes as other types of insurance, from homeowners to vehicles, are increasingly becoming harder to obtain for many Americans.

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“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 — difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” Nationwide said in an announcement last week.

Impacted policyholders will be notified in writing, the company said.

Nationwide said it’s taking steps like this to continue its business in the future.

“We 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,” Nationwide said.

CNN contributed to this article.