What Happened To Vpi Pet Insurance?
Vpi Pet Insurance was once one of the most popular pet insurance providers in the United States. However, as of recently, the company has been embroiled in some controversies that have caused its stock prices to plummet. What happened? In this blog post, we will investigate what led to Vpi’s downfall and what you can do to protect your pet if something happens. We will also provide a list of other pet insurance providers that are more likely to meet your needs.
Vpi Pet Insurance went out of business
Vpi Pet Insurance went out of business on December 1st, 2016. The company was founded in 2008 and offered pet insurance for cats and dogs. Vpi claimed to be the first pet insurance company to offer coverage for pets born with pre-existing conditions. The company also offered a variety of other services, such as pet custody and pet theft protection.
According to the company’s website, Vpi offered a $100 cash bonus for customers who switched to the company within 60 days of its inception. The website also claims that Vpi offers “the most comprehensive coverage” available on the market.
Vpi suffered from several financial troubles throughout its existence. In March 2016, the company announced that it had suspended payments to its policyholders due to “significant liquidity issues.” Two months later, in May 2016, Vpi announced that it had filed for Chapter 11 bankruptcy protection.
After filing for bankruptcy protection, Vpi received several investments from private equity firms. However, these investments failed to save the company from insolvency. On December 1st, 2016, Vpi ceased operations and left many of its policyholders without coverage.
How Vpi Pet Insurance worked
Vpi Pet Insurance was one of the first pet insurance companies to be founded in the United States. It was launched in 2003 and offered coverage for a variety of animals, including dogs, cats, horses, and even snakes and lizards.
However, Vpi is now defunct and no longer offers any pet insurance products. This is likely due to the high cost of premiums and the fact that many pet owners are now choosing to buy policy through their health insurer instead.
What happened to Vpi Pet Insurance customers?
Vpi Pet Insurance customers were recently notified that the company is ceasing operations. In a blog post, Vpi said that they have been faced with increasing costs and difficulties in obtaining new policies since the passage of the Affordable Care Act.
Customers who have active policies will be automatically transferred to another provider. Policyholders who do not have an active policy will be contacted and offered a policy from another provider. Customers with questions can contact customer service at 888-266-1653.
Conclusion
It’s been a little over a year since Vpi Pet Insurance last posted on their blog, and many pet-owners are wondering what has happened to the company. While it’s still unclear what is going on with Vpi Pet Insurance, we wanted to take a moment and share some of the rumors that have been circulating online. According to some sources, Vpi Pet Insurance is in trouble due to unpaid claims and may be forced to file for bankruptcy. However, no official announcement has been made by the company as of yet, so please keep an eye out for updates if you are a pet owner who was insured through them.