Annual, Lifetime and Per Incident Limits

Pet insurance companies put limits on how much they will pay out on claims. They do it in three different ways.

Per incident limits apply to specific issues like an ear infection or a broken leg. Some companies won't pay claims beyond a certain amount for a specific problem.

Annual limits are limits on how much an insurer will pay out over the course of a policy year in total and lifetime limits refer to how much they will pay over the course of the pet's life.

At PurinaCare we have no lifetime or per incident limits and a $20,000 annual limit. The annual limit resets with each year's renewal. We feel this should cover the vast majority of dogs and cats and we have never had anyone exceed our reasonable annual limit.

If you are considering pet insurance there are a couple of watch outs. The first would be a relatively low lifetime limit or annual limits. You buy insurance to protect your pet and your finances. Some conditions can be expensive and require lifetime care. There is at least one popular plan out there that limits you to $8000 annually. And with this plan if you get into a serious problem requiring ongoing care they can exclude coverage for that serious issue in subsequent years. This plan also has per incident limits. It is relatively inexpensive, though. 

 

There is another plan that has a relatively low lifetime limit of $20,000. I could see conditions that could cost more than that over the lifetime of the pet. 

 

Coverage limits are one way for an insurer to limit their liability. This allows them to offer a lower "price point" for their monthly premium.  

 

When you see pet insurance providers advertising, "Plans starting as low as" or something like that, be sure to read the fine print. One way to offer really low monthly premiums is to limit your exposure to large losses. 

 

We prefer simple and comprehensive. No lifetime or per incident limits and a reasonable annual limit of $20,000. That's PurinaCare.

Comments

[lisa]

hello-i am researching pet insurance for my 4 year old lab mix female. I am confused about this topic in particular, since another company specifically says it will only allow you to use 25% of your annual coverage amount if a covered illness/accident results in a chronic condition that lasts beyond the initial year of the incident. Does Purina have any such restrictions, or does the 20K per-year limit include treatment related to a covered illness or injury from a previous policy year? (assuming continuing coverage)
thanks

[Larry McDaniel]

Hi Lisa,

I think I understand your question. We don't put any special restrictions on chronic illness. If your dog were to develop a chronic disease while she is covered by PurinaCare we would cover her in subsequent years the same way we covered her when she got sick. The only restriction would be the $20,000 annual limit and the deductible and copay of course. And that limit starts fresh each year. All you have to do is keep your policy in force and we make policy renewal easy for you. If you have any other questions or if you are still confused, please call one of our representatives at 877-878-7462.
Thanks for thinking about PurinaCare.

Larry McDaniel, DVM