Pet insurance, per condition limit or one annual pot
A bigger vet fee number on a pet policy is not always more cover. How the limit is shared between conditions decides what is left when a second illness arrives.
Ten thousand pounds of vet fee cover sounds like more than five thousand. Whether it is depends on one word in the policy schedule.
On 26 October Perfect Pet Insurance launched two new lifetime cover levels for cats and dogs, with up to £7,000 or £10,000 of vet fees a year, as its PR Fire announcement set out. The firm says plainly that these limits are an annual total across all eligible conditions, while its existing lifetime cover pays up to £5,000 per condition.
Its own policy comparison page shows the other trade. The new levels carry an excess of £199 or £249 per condition, against £90 on the other policies. The announcement is open about how the limits work, and both designs are legitimate. They simply suit different pets.
Here is the detail worth sitting with. With a per condition limit, a dog with arthritis and then a skin allergy has a separate pot for each. With one annual pot, the second illness draws on whatever the first one left. For a single expensive condition, the bigger shared pot can be worth more. For an older pet collecting several conditions, it can run dry by spring.
The stakes are real. The ABI says its members paid a record £1.23 billion of pet claims in 2024, up 4 per cent, with the average claim at £685. It cites elbow dysplasia treatment that can cost over £50,000.
So read the schedule, not the headline. Check whether the limit is per condition or per year, what the excess is per condition, and what happens to an ongoing claim if you switch levels at renewal.
The right cover is the one whose limit matches the way your pet is likely to get ill.