Pet Insurance Policy Limits
Policy limits in a pet insurance policy are another important consideration when choosing a policy. There can be many different types of limits, and we will discuss a few of them here.
- Per-incident limits - This limit is based upon the type of incident and possibly the frequency that the incident occurs. For example, if your pet injured her leg that would be an incident. If the leg required many more visits over a long period of time, it is possible that a per-incident limit could be exceeded and your coverage for that limit would no longer apply.
- Annual - This limit refers to the amount of coverage allowed in an annual period. Normally, if this coverage amount (for example $10,000) is reached your policy would not cover any additional items for the remainder of that year.
- Lifetime - This is just as it sounds, coverage for the lifetime of your pet. The policy would pay out as outlined until this figure is reached and then would no longer pay benefits.
- Breed - Some breeds of pets have problems that are more common than in other breeds. If your pet fell under this category, there may be a limit of benefits or possibly an exclusion all together.
- Age - As pets age, they become more susceptible to conditions that would require the policy to pay out benefits. Because of this, as your pet ages the policy may impose some benefit limits.
Policy limits are another important consideration in choosing a pet insurance policy. It is important to choose a policy that has the most favorable limits for your breed of pet, and for they type of benefits you wish.
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