Many plans have an annual payout limit. If your pet is injured in an accident, the insurance company will cover the costs up to that amount, but the limit may increase each year. Fortunately, there are also companies that offer unlimited plans, which have no annual limit. You can choose a policy that works well for your family. The maximum payout limit may be between $500 and $20,000, depending on your policy. A policy can only pay for a portion of the vet bill, so you should make sure you know how much your policy limits are before you buy.