TL;DR
Thinking of switching your private medical insurance in the UK? You're not alone. At WeCovr, an FCA-authorised broker that has helped arrange over 900,000 policies, we know that finding better value is a top priority.
Key takeaways
- Why and when you should consider switching.
- The crucial differences in underwriting methods.
- A step-by-step process for a seamless transition.
- Common pitfalls to avoid.
- Rising Premiums: This is the number one driver. Insurers typically increase premiums at renewal each year due to two main factors:
Thinking of switching your private medical insurance in the UK? You're not alone. At WeCovr, an FCA-authorised broker that has helped arrange over 900,000 policies, we know that finding better value is a top priority. This guide explains how to switch insurers without losing valuable cover.
Avoiding waiting periods, maintaining benefits, and navigating applications
Switching your private health cover can feel daunting. Will you have to start from scratch? Will that knee problem you claimed for last year suddenly be excluded? What about waiting periods?
These are valid concerns. The good news is that with the right approach, you can switch insurers smoothly, often securing a better price or enhanced benefits without losing the cover you've built up over time. The secret lies in understanding a specific type of underwriting designed for people just like you: Continued Personal Medical Exclusions (CPME).
This comprehensive guide will walk you through every step, demystifying the jargon and giving you the confidence to navigate the market. We'll cover:
- Why and when you should consider switching.
- The crucial differences in underwriting methods.
- A step-by-step process for a seamless transition.
- Common pitfalls to avoid.
Why Switch Your Private Medical Insurance Provider?
Your private medical insurance (PMI) policy isn't something you should "set and forget". Your circumstances change, and the insurance market evolves. Regularly reviewing your cover is a smart financial move.
Here are the most common reasons people decide to switch:
- Rising Premiums: This is the number one driver. Insurers typically increase premiums at renewal each year due to two main factors:
- Your Age: As we get older, the statistical likelihood of needing medical treatment increases.
- Medical Inflation: The cost of medical technology, new drugs, and private hospital fees consistently rises faster than general inflation. According to industry analysis, medical inflation often runs between 8% and 12% per year.
- A Change in Needs: Your health needs aren't static. You might want to switch to a policy that offers better mental health support, more comprehensive cancer care, or includes therapies like physiotherapy that your current plan lacks.
- Poor Customer Service: A difficult claims experience or poor communication can sour your relationship with an insurer, prompting a move to a provider with a better reputation for service.
- Life Events: Major life changes often trigger a policy review. This could include getting married, having a child, your children leaving home, or retiring and losing a company policy.
- Better Value Elsewhere: A new insurer might enter the market with a competitive offer, or an existing provider might be running a promotion that includes wellness benefits or a lower premium for equivalent cover.
The Impact of Annual Premium Increases
Let's look at a simple example of how premiums can increase, even without any claims.
| Age Band | Year 1 Premium | Year 2 Premium (with 10% increase) | Year 3 Premium (with 10% increase) |
|---|---|---|---|
| 40-45 | £70/month | £77/month | £84.70/month |
| 50-55 | £95/month | £104.50/month | £114.95/month |
| 60-65 | £140/month | £154/month | £169.40/month |
Note: These are illustrative figures. Actual premiums vary based on location, cover level, and individual circumstances.
Seeing these increases can be alarming, but it doesn't mean you're stuck. By comparing the market, you can often offset these rises.
Understanding Underwriting: The Key to a Smooth Switch
"Underwriting" is the process an insurer uses to assess your health and medical history to decide the terms of your policy. Understanding this is absolutely critical when switching. There are three main types.
1. Full Medical Underwriting (FMU)
With FMU, you complete a detailed health questionnaire, disclosing your entire medical history. The insurer's underwriting team reviews this information and may apply specific exclusions to your policy for any pre-existing conditions.
- Pros: You know exactly what is and isn't covered from day one.
- Cons: The application process is lengthy. Any condition you've had in the past, no matter how long ago, could be permanently excluded.
2. Moratorium Underwriting (MORI)
This is the most common type for new buyers. You don't need to provide your full medical history upfront. Instead, the policy automatically excludes treatment for any medical condition you've had symptoms, treatment, or advice for in the five years before the policy start date.
These exclusions can be lifted if you then go for a continuous two-year period after your policy starts without needing any treatment, advice, or medication for that condition.
- Pros: Quick and easy application process.
- Cons: There can be uncertainty about what's covered. A claim might be delayed while the insurer investigates your medical history to see if it was a pre-existing condition.
3. Continued Personal Medical Exclusions (CPME)
This is the golden ticket for switchers.
CPME underwriting, sometimes called "switch" or "no further underwriting", is specifically designed to allow you to move from one PMI provider to another without losing cover for conditions that have developed while you were insured.
How does it work? Instead of assessing your health from scratch, the new insurer agrees to take on the same underwriting terms and exclusions as your previous policy.
- Any personal exclusions on your old policy will be carried over to the new one.
- Crucially, any new medical conditions that arose and were covered under your old policy will continue to be covered by your new one, without any new waiting periods.
To be eligible for a CPME switch, you typically need to be moving from a comparable UK private medical insurance policy. This is why working with an expert broker like WeCovr is so valuable. We can identify which insurers offer CPME terms and ensure your new policy provides a seamless continuation of cover.
Underwriting Types at a Glance
| Feature | Full Medical Underwriting (FMU) | Moratorium (MORI) | Continued (CPME) - For Switching |
|---|---|---|---|
| Application Process | Long health questionnaire | No health questions upfront | Simple declaration form |
| Pre-existing Conditions | Declared and usually excluded | Automatically excluded for 2 years | Exclusions from old policy are carried over |
| Clarity of Cover | High - exclusions are listed | Lower - decided at point of claim | High - same terms as your old policy |
| Best For... | People who want certainty upfront | Healthy people buying for the first time | People switching their existing PMI policy |
The Golden Rule: Never Cancel Your Old Policy First!
This is the most important piece of advice in this entire article. If you take only one thing away, let it be this.
Cancelling your existing policy before your new one is fully in place creates a "gap in cover". If you or a family member were to develop a new medical condition during this gap, it would not be covered by the old policy (as it's cancelled) or the new one (as it would now be a pre-existing condition).
This could leave you without private cover for a potentially serious health issue.
The Correct Switching Process
Follow these steps to ensure you are never without cover:
- Review and Research: Dig out your current policy documents. Understand your current level of cover, benefits, and any personal exclusions.
- Get Expert Advice: Contact a specialist PMI broker. An advisor can compare the market on your behalf to find suitable alternatives that offer CPME terms.
- Apply for the New Policy: Complete the application for your chosen new policy. Your broker can help you with this to ensure it's done correctly.
- Wait for Acceptance: Do not do anything until you have received official confirmation and your new policy documents from the new insurer. These documents will state your cover start date and confirm the terms.
- Set Up Payment: Arrange the Direct Debit or payment method for your new policy.
- Cancel the Old Policy: Contact your old insurer to cancel your policy. Crucially, time the cancellation date to match the start date of your new policy. For example, cancel the old policy effective from midnight on 31st October, and have the new one start on 1st November.
A Step-by-Step Guide to Switching Your PMI Policy with WeCovr
Navigating the PMI market can be complex, but you don't have to do it alone. As an FCA-authorised broker specialising in health and life insurance, WeCovr makes the process simple, transparent, and free for you.
Here's how we help you switch with confidence:
Step 1: Get in Touch for a Free Review Contact us via our website or phone. There's no cost and no obligation. We'll ask you to share your current policy schedule. This document is the blueprint of your cover, detailing your benefits, limits, and any exclusions.
Step 2: A Personalised Market Analysis One of our expert advisors will analyse your current policy and discuss your priorities. Are you purely focused on cost savings? Do you want to enhance your cancer or mental health cover? Based on your needs, we'll search our panel of leading UK insurers to find the best options available on CPME/switch terms.
Step 3: Clear, Jargon-Free Comparison We'll present you with a shortlist of quotes, explaining the differences in plain English. We'll highlight how the new options compare to your existing cover, ensuring you understand any changes in hospital lists, outpatient limits, or excess levels.
Step 4: Seamless Application Support Once you've chosen your preferred policy, we'll guide you through the application. We handle the paperwork and liaise with the insurer to ensure the switch is processed correctly on a CPME basis, preserving your cover history.
Step 5: Confirmation and Final Switch We'll notify you as soon as your new policy is accepted and your documents are issued. Only then will we give you the green light and clear instructions on how to cancel your old policy, guaranteeing a seamless transition with no gap in cover.
Exclusive WeCovr Benefits: When you arrange your policy through us, you also get:
- Complimentary access to CalorieHero: Our proprietary AI-powered calorie and nutrition tracking app to support your health goals.
- Multi-policy Discounts: We can often provide discounts on other insurance products, such as life or income protection insurance, when you take out a health policy with us.
Pre-existing and Chronic Conditions: A Critical Distinction
It's vital to understand what private medical insurance is for. Standard UK PMI is designed to cover acute conditions that arise after your policy has started.
What is an Acute Condition?
An acute condition is a disease, illness, or injury that is likely to respond quickly to treatment and lead to a full recovery.
- Examples: Cataracts, joint replacement (e.g., hip/knee), hernias, appendicitis, broken bones.
What is a Chronic Condition?
A chronic condition is one that has no known cure and requires long-term monitoring and management.
- Examples: Diabetes, asthma, high blood pressure, arthritis, Crohn's disease, epilepsy.
Standard private medical insurance in the UK does not cover the routine management of chronic conditions. While it may cover an acute flare-up of a chronic condition, the day-to-day monitoring and medication are typically handled by the NHS.
What is a Pre-existing Condition?
This is any illness or injury for which you have experienced symptoms, received medication, or sought advice from a medical professional before the start date of your policy.
Even if you switch on a CPME basis, PMI will not suddenly start covering a chronic or pre-existing condition that was previously excluded. The purpose of a CPME switch is to maintain cover for new, acute conditions that you became eligible for under your old policy, ensuring they aren't treated as pre-existing by your new insurer.
Comparing Key Policy Features When Switching
While price is a major factor, a cheaper policy isn't better if it doesn't provide the cover you need. When comparing quotes, look closely at these core features:
| Feature | What to Look For | Impact on Premium |
|---|---|---|
| Hospital List | Does it include hospitals convenient for you? Some lists are local, others are national. Premium lists include high-end London hospitals. | A more extensive list, especially with London hospitals, increases the price. |
| Outpatient Cover | This covers consultations and diagnostic tests that don't require a hospital bed. Limits can range from £0 to 'Full Cover'. A typical mid-range policy might offer £1,000. | Higher outpatient limits significantly increase the premium. |
| Excess | The amount you agree to pay towards the first claim in each policy year. This can range from £0 to £1,000+. | A higher excess will lower your monthly premium. |
| Cancer Cover | Check the level of cover. Does it include access to the latest drugs and therapies not yet available on the NHS? Is there a limit on chemotherapy or radiotherapy? | Comprehensive cancer cover is a core feature, but enhanced options can add to the cost. |
| Mental Health Cover | A growing priority. Check limits for psychiatric treatment, both as an in-patient and out-patient. Some policies offer access to talking therapies. | More comprehensive mental health benefits will increase the cost. |
| Therapies Cover | This covers treatments like physiotherapy, osteopathy, and chiropractic. Check the limits on the number of sessions. | Usually an optional add-on or included in higher-tier plans. |
Real-Life Scenarios: How Switching Works in Practice
Scenario 1: Sarah, the Cost-Conscious Professional Sarah, 42, has a PMI policy that just came up for renewal with a 15% price hike, taking her premium to £95/month. She had a minor claim for physiotherapy for shoulder pain 18 months ago. Worried she'd lose this cover, she contacted WeCovr.
- Action: WeCovr found a policy with a different leading insurer with an almost identical hospital list and the same £1,000 outpatient limit.
- Method: The switch was completed on a CPME basis.
- Outcome: Sarah's new premium is £78/month. Her previous shoulder condition remains covered, and her underwriting terms are carried over. She saves £204 per year.
Scenario 2: The Jones Family, Expanding Their Brood The Jones family have a policy for two adults and one child. They've just had another baby. Their current insurer quoted an additional £40/month to add the newborn.
- Action: They sought a market comparison. WeCovr found a provider whose family pricing was more competitive, only charging for the first child.
- Method: The whole family was switched using CPME, maintaining their continuous cover history.
- Outcome: Their new family policy is only £15/month more than their old policy, saving them £25/month compared to their renewal offer. The new baby is covered from birth.
Scenario 3: David, Facing Retirement David, 64, is retiring and his company's group health insurance is ending. He has developed high blood pressure (a chronic condition) and had a hip replacement (an acute condition) while on the company scheme.
- Action: David needs personal cover. He knows the high blood pressure won't be covered for routine management. He is worried his new hip, and any future issues with it, will be excluded.
- Method: Some insurers offer special continuation terms for those leaving a group scheme, which work similarly to CPME. A broker helps him find an insurer that will continue his cover from the group scheme.
- Outcome: David secures a personal policy. It excludes the management of his high blood pressure (as expected), but because he switched on continuation terms, his surgically-repaired hip is covered for any new, acute issues.
Common Pitfalls to Avoid When Changing Insurers
- Cancelling Your Old Policy Too Soon: The cardinal sin of switching. Always wait for written confirmation of your new policy.
- Not Using a CPME/Switch Option: If you simply take out a new policy on a moratorium basis, any condition you've had in the last 5 years (including those covered by your old insurer) will be excluded for another 2 years.
- Focusing Only on Price: A cheap policy with a £250 outpatient limit and a restrictive hospital list is not a bargain if you need treatment at a specific centre.
- Misunderstanding Your New Policy: Read the documents. Make sure you're happy with the hospital list, excess, and benefit limits before you commit.
- Forgetting to Disclose Ongoing Treatment: Even on a CPME application, you must be honest. If you are in the middle of a course of treatment, most insurers will require you to complete it under your old policy before they will accept a switch.
Switching your private medical insurance provider is one of the most effective ways to ensure you have the right cover at a fair price. While it requires care and attention to detail, the process is straightforward with expert guidance. By using a Continued Personal Medical Exclusions (CPME) switch, you can move to a new insurer, benefit from lower premiums or better cover, and crucially, maintain the continuity of cover you've already paid for.
Ready to see if you could get a better deal on your private health cover?
Let the experts at WeCovr do the hard work for you. Get your free, no-obligation quote today and discover how much you could save without compromising on cover.
