There's no such limit policy, but you can use storage DRS to automatically balance VM storage betwen LUNs based on the amount of free space.
See:
https://www.vmware.com/files/pdf/vmw-vsphr-5-1-stor-drs-uslet-101-web.pdf
VMware KB: Enabling and disabling Storage DRS (SDRS) in the vSphere Web Client
