Plain English
Pet insurance glossary
The words insurers use, decoded — so you can compare plans like a pro.
- Premium
- The amount you pay — monthly or annually — to keep your pet insurance policy active.
- Deductible
- What you pay out of pocket each policy year before reimbursement begins. A higher deductible lowers your premium.
- Reimbursement rate
- The percentage of a covered bill you get back after your deductible is met — typically 70%, 80%, or 90%.
- Annual limit
- The maximum amount the policy will pay out in a single policy year, from a set cap up to Unlimited.
- Waiting period
- The time between enrollment and when coverage takes effect — often a few days for accidents and about 14 days for illness.
- Pre-existing condition
- Any injury or illness that showed signs before coverage started or during the waiting period. Pre-existing conditions are excluded industry-wide.
- Curable pre-existing condition
- A prior condition that some carriers will cover once your pet has been symptom- and treatment-free for a set period, often 180 days.
- Accident-only coverage
- A plan that covers injuries from accidents but not illnesses. Usually the cheapest option.
- Accident & illness coverage
- The standard comprehensive plan covering both injuries and illnesses, from infections to cancer.
- Wellness plan
- An optional add-on for routine and preventive care like exams and vaccines. Wellness is not insurance.
- Hereditary condition
- A condition passed down genetically, such as hip dysplasia — covered on higher-tier plans when not pre-existing.
- Congenital condition
- A condition present from birth, such as a heart defect.
- Bilateral condition
- A condition affecting both sides of the body, like both knees. If one side is pre-existing, the other may be excluded.
- Exclusion
- Something a policy specifically does not cover, spelled out in the policy document.
- Claim
- A request for reimbursement submitted after you pay a covered veterinary bill.
- Underwriter
- The insurance company that issues the policy, bears the risk, and pays claims.
- Producer / Agency
- A licensed intermediary — like Pawllicy — that sells and services policies but does not underwrite them.
- Telehealth triage
- A virtual vet consultation that assesses how urgent a situation is and advises the right next step.
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