An ‘annual limit’ is the maximum amount which your pet insurance provider will pay per year. This would be after you’ve made your excess, and co-payment if applicable.
For example, if your dog or cat suffers an injury, they could need scans, prescriptions, surgery, and follow-up appointments. This comes to £4,000, and you have an annual limit of £10,000. After you’ve paid your excess of £100, this takes it down to £3,900, which your insurer will pay out if your claim is approved. This £3,900 is deducted from your £10,000 annual limit - leaving you with £6,100 if you need to claim later in the year.
To lower your insurance premium, you may choose to reduce this annual limit. However, if your pet has ongoing health issues or is particularly accident-prone, you might exceed your annual limit and end up paying for your pet’s treatment yourself. On the other hand, you can opt for a policy with no annual limit - bear in mind though, that this can hike up your premium significantly.
You’ll need to check the policy documents of your pet insurance to find out what your annual limit is, or if you have one. If you’ve got any queries of concerns, make sure you contact your insurer’s customer contact team.
