Switching Health Insurance
Switching your health insurance provider can not only save you money, but it can also be a great opportunity to ensure you have the most comprehensive cover.
Our team have a lot of knowledge and experience of the health insurance market which will allow you to smoothly switch providers, if it’s in your best interest to do so.
Why has my renewal quote increased?
When it comes to that time when your health insurer sends you your renewal quote, it is not uncommon to question why your premium has increased.
Every insurer will have their own way of working out your premium. In general though there are a few common factors that can affect the price of your premium such as, age, postcode and inflation. If you have claimed on your policy this can also have an impact, likewise some insurers offer no claims discount, so by not claiming you will receive a discount.
Medical inflation refers to new advances in medicine and medical treatments. These breakthroughs although lifesaving can be very expensive, so is a factor that many insurers will consider when calculating your premium.
Things to consider before switching
Here are some important things to consider before you switch health insurers.
- Don't exclude conditions without fully understanding the consequences just to reduce the cost
- Don't start a new underwriting until you have received expert advice
- Don't add downgrades (like a six-week option) if you’re unsure of the impact
- Cancel a company policy without speaking to a health insurance professional who can review the whole market
- Review your health insurance regularly
- Establish what level of health cover meets your needs
- Get a review of your policy from Healthcare Clarity
Switching offers
Our clients have saved between 10% and 60% by reviewing their health insurance and switching to a more affordable insurer or policy, with companies often providing a range of incentives to do so.
For example, Vitality Health offers discount opportunities, such as a discount of up to 10% with their switch & save promotion. Meanwhile, other insurers may give you deals like two months free or a fixed price for a number of years. We’ll let you know exactly where you qualify for extra discounts.
** a £50 voucher for M&S or John Lewis will be sent to you after switching to a policy we recommend once you paid your second monthly premium to your insurer.
Benefits of using Healthcare Clarity
We are the only broker to offer a free claims support service
On average we save our clients 32%* when switching health insurers
We compare the top health insurers, including AXA Health, Bupa and Vitality
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Switching FAQ's
It is advised to cancel your existing insurance when switching to a new provider, especially if your intention is to reduce the cost of your medical insurance.
Although it is not illegal to have more than one insurance policy in place, it can cause complications if a claim was to arise where you were eligible to claim on both policies. Certain providers may also request evidence that the previous policy has been cancelled before enrolling a new policy.
If you pay annually or have claimed on the policy, some providers reserve the right to tie you in for the whole period of insurance and you may have to wait until the renewal before cancelling your policy. If you pay monthly, you can typically cancel the policy at any time throughout the policy year however limited providers may charge a cancellation fee of up to £40 for a midterm cancellation.
Many people with pre-existing conditions assume they can’t change provider and feel stuck with the current insurance company when their premiums become unaffordable. This isn’t actually the case.
Every insurer has their own criteria when looking to transfer underwriting from a competitor. More often than not there will always be insurers offering comparable cover for a lower cost, when reviewing the market we will always look at providers that are offering the best underwriting terms and in many cases we can transfer medical underwriting with no exclusions, even when a client has pre-existing conditions.
Read our related guides
Leaving a company scheme
When leaving a company policy, it is important to consider the type of policy that best suits your needs.
Six-week Option
Learn about how a six-week option to see if it is the right option for you.
Medical Underwriting
The type of underwriting also determines which health conditions are and are not covered.
