How do you compare Private Medical Insurance properly?
To compare Private Medical Insurance properly, make every insurer quote the same outpatient limit, hospital access, cancer and mental health cover, excess and underwriting method. Only then should you compare the annual premium.
The cheapest number is not a fair comparison if it removes the scans, consultations or hospitals you expect to use. Start with the cover, make the terms equivalent, then look at cost.
The seven-point PMI comparison checklist
- Inpatient and day-patient treatment. Confirm the core hospital treatment each policy funds.
- Outpatient cover. Compare consultations, diagnostic scans and therapies, including any annual cap.
- Hospital list. Check that practical local hospitals and specialists are available, not just the number of hospitals advertised.
- Cancer and mental health. Read the limits, treatment rules and outpatient position rather than relying on a tick.
- Excess. Check the amount and whether it applies once per policy year or per claim.
- Underwriting and exclusions. Put moratorium, full medical underwriting or continued terms side by side.
- Total annual cost. Compare the annual figure, payment charges and likely renewal affordability after the cover is matched.
Like-for-like comparison table
| Feature | Quote A | Quote B | Question to ask |
|---|---|---|---|
| Outpatient | £1,000 cap | Full cover | Are scans included inside the cap? |
| Hospital access | Guided list | Full list | Which local hospitals can I use? |
| Excess | £250 yearly | £250 per claim | How often can it apply? |
| Underwriting | Moratorium | Full medical | What is excluded and for how long? |
The table is an example of the questions to ask. It is not a comparison of named insurer products.
Compare the insurer as well as the policy
Look at claims support, administration, renewal handling and whether the provider offers the hospitals and pathways you need. Customer ratings can help, but they do not replace checking the policy wording for your chosen plan.
When should you use a broker?
A specialist broker is useful when you need several insurers compared on identical terms, have medical history to discuss, are switching an existing policy or are arranging cover for a family or workforce. See our Private Medical Insurance and Group Private Medical Insurance pages, read how a firm PMI quote is prepared or ask The Broking Group to compare the market.