Key takeaways
- Small structural changes (excess, hospital list) often beat cutting core cover.
- Re-marketing your policy every year is the single most effective habit.
- Advice ensures you cut cost without accidentally losing protection.
Whether you’re with Bupa, AXA Health, Aviva or anyone else, private medical insurance premiums tend to rise every single year. Here are seven ways to fight back — most of which don’t involve giving up the cover you value.
1. Increase your voluntary excess
Agreeing to pay a bit more towards any claim usually reduces the premium. If you rarely claim, this is often the quickest win.
2. Refine your hospital list
Premium hospital lists (especially central London) cost a lot. Trimming to the hospitals you’d realistically use can cut cost with little practical downside.
3. Reconsider outpatient limits
Unlimited outpatient cover is lovely but pricey. A generous capped limit suits many people for far less.
4. Remove add-ons you don’t use
Dental, optical or travel add-ons are worth keeping only if you use them. Audit them honestly.
5. Pay annually
Monthly instalments sometimes carry an interest charge. If cash flow allows, paying yearly can shave a little off.
6. Re-market your policy
The single most effective habit: compare a wide panel of insurers each year. Insurers price aggressively for new customers, and loyalty is rarely rewarded.
7. Get impartial advice before you change anything
Cutting cover blindly can leave you exposed. An adviser makes sure every saving keeps the protection you actually need.
The people who pay the least aren’t the luckiest — they’re the ones who review their cover every year.
ComparePMI compares your renewal across multiple insurers so you can see the options side by side. We don’t give advice or favour any insurer; if you’d like advice or decide to go ahead, we introduce you to an FCA-authorised firm who provides it and arranges your cover. It’s free and there’s no obligation.
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This article is general information, not personal advice. Cover, terms and availability vary by insurer and individual circumstances. ComparePMI is the trading style of ComparePMI Limited (company no. 16755241), an independent comparison and introduction service, not tied to any insurer. We do not provide advice or arrange cover ourselves and are not FCA-regulated; we introduce you to FCA-authorised and regulated firms who provide the advice and arrange your cover.