What is a Policy Year?
The policy year is a 12 month-long period of coverage under an individual insurance plan.
More specifically, it’s the period of time between your pet insurance policy’s date of enrollment and one-year anniversary. It’s important to know the dates of your policy year, because it affects your maximum payout per year, as well as various rates, policy terms, and so forth.
How a Policy Year Works
A policy year does not necessarily line up with the traditional calendar, because you can enroll in a pet insurance policy at any time. If you have pet insurance for multiple pets, then they will each have a different policy year, unless they all enrolled in an insurance plan on the same exact date.
- A policy year is the 12-month period of time between your pet insurance policy’s anniversary of enrollment.
- Policy years do not align with the traditional calendar year but are instead the anniversary of when you first purchased your pet insurance policy.
- Each insured pet and their plan will have a unique policy year.