Annual Limit

by Pawlicy Advisor
Pet Insurance Terms
Annual Limit

What is an Annual Limit?

An annual limit is the maximum amount of money your pet insurance provider will reimburse you for within one year and varies dramatically depending on your pet insurance plan. Some pet insurance plans offer “unlimited” annual coverage limits, which will prevent you from ever hitting a reimbursement cap. Other plans may have annual limits ranging from $2,500 to $25,000 for the year.

How Annual Limits Work

Your particular pet insurance plan determines your annual limit. It dictates what the maximum amount your insurer will reimburse you for in a year after you’ve hit your deductible. Let’s say your annual limit is $10,000 each year, and your pet ends up qualifying for $15,000 worth of reimbursements within one year. Since your annual limit is $10,000, everything after $10,000 reimbursed within a given year will be up to you to pay until the next year when your policy renews for the new year.

Key Takeaways

  • An annual limit is a cap for how much an insurance company will reimburse you in one year.
  • After you’ve hit your annual limit, you will be responsible for any remaining veterinary fees.
  • Some pet insurance plans offer “unlimited” annual coverage so that you don’t have to worry about hitting a cap.

Continue Reading

Average Days to Reimburse
The average number of days to reimburse is how long it typically takes for your pet insurance plan provider to reimburse you for any eligible claims made.
Read More.
Benefit Schedule
A benefit schedule is a structured list of illnesses and diagnoses covered under your pet insurance plan and the maximum amount of money your plan will reimburse you.
Read More.
Benefits are the veterinary care items and services covered under your particular pet insurance plan.
Read More.

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