Private medical insurance, also known as private health insurance, provides access to medical treatment if you are ill. Private medical insurance gives you access to health care when you need it without having to wait for treatment on the NHS and it doesn't have to be expensive. Private medical insurance covers short-term illnesses or injuries and can include consultations, surgery and nursing care and hospital accommodation. With private medical Insurance you will normally stay in a private en-suite room in a private hospital, or in a private room in an NHS hospital.

Choosing the Right Private Medical Insurance Cover

Finding the right illness cover can be complicated because premiums vary and there are big differences in how policies work and what each covers. You can choose a policy, which is fully underwritten – this means the illness cover takes account of your medical history and you know exactly what's covered and what's excluded when you take out the policy. A moratorium policy doesn't take into account your medical history and you won't be covered for illnesses you have been affected by in a certain number of years before taking out the policy. This can mean the premium is cheaper, but you may not find out you aren't covered for a previous illness until you try and make a claim. With both moratorium and underwritten illness cover pre-existing illnesses aren't covered initially, but may be included at a later date.

How to Cut the Cost of Private Medical Insurance?

The easiest way to reduce how much you have to pay for private medical insurance is to limit the illnesses it covers, the level of cover, or the number of hospitals you can use if you become ill. Here we explain how to save money on private medical insurance.

Limit the type of Illnesses Covered - Some private medical insurance policies only cover cancer or heart conditions, for example. If you are worried about these illnesses then choosing a policy that doesn't cover other conditions will save you money.

Choose a Lower Level of Private Medical Insurance Cover - Most private medical insurers offer different levels of cover. The more comprehensive the cover the more you will pay. For example, some policies only pay out for inpatient treatment - outpatient care and consultations are not covered.

Fewer hospitals for treatment - The number of hospitals you can be treated in will also affect how much you pay for private medical cover. The most expensive policies allow you to be treated in more than 400 private and NHS hospitals.

Choose a Higher Excess - One way to reduce your premium is to opt for a higher excess – this is the amount you have to pay towards the cost of treatment in the event of a claim.

Contribute to the cost of treatment - You can reduce your premium if you choose a policy where you contribute to the cost of treatment and pay, for example, 10, 25 or 50 per cent of the cost of treatment.

Treatment on the NHS - Save money by choosing a policy where you are treated on the NHS if the waiting list is less than a certain period, such as, six weeks.

Save money with a moratorium policy – However with a moratorium policy you won't know exactly what illnesses you are covered for until you need to make a claim.

Healthy Living can reduce your Private Medical Premiums - Living healthily could not only improve your life and help you live longer, but it could also cut the cost of your private medical insurance premiums.

Shop around for Private Medical Insurance - The best way to make sure you buy the right policy at the best price is to shop around.

Discounts on PMI if you don't make a claim - Some policies will give you a discount if you don't make a claim – these no claims discounts shouldn't stop you making a claim though.

How to Find the right Private Medical Insurance

Private medical insurance is complicated and it's essential that you choose the right policy. We specialise in medical insurance cover and will search the market and help you find the right cover at the best price available. Quotes for medical insurance are free and you are under no obligation.