Health insurance can have a calming effect on your general levels of anxiety. That's because comprehensive medical cover will help you gain quick access to a consultant when you fall ill, ensuring that you don't have to wait in often lengthy NHS queues.
In today's recession-hit economy, most people understand the value of shopping around for a health insurance quote to get the best deal for their money. However, many people are unaware that it's important to keep looking for new quotes when their existing policy is up for renewal, to ensure that you continue to pay a competitive premium. Here are a few tips on what to do when your health insurance policy is reaching its renewal stage.
Do Your Research And Compare Health Insurance Online
First, it's important to do some background research on the most competitive health insurance quotes that are available. Turning to an internet comparison site or an insurance broker gives you a wide look at the marketplace, enabling you to compare and contrast policy benefits and premium costs. Depending on your age and your general levels of health, you may discover that you could make significant savings by switching to another insurer.
When comparing policies, it's also important to find out what deals your current insurer is offering their new customers. Once you're armed with all this information, call up your insurance company and discuss your renewal options with them. If they offer you a rate that's cheaper than what you're paying now but more expensive than their competitors, don't be afraid to tell them what other quotes you've been offered or mention that a better deal is available for new customers. The chances are they'll refine your renewal quote, since they won't want to lose you as a customer.
Start Looking For Renewal Options Early
It's also important to time your search for a renewal quote well. For instance, if your policy term is over in March, don't start looking for a new quote at the beginning of March or even the end of February. Instead, start to compare health insurance in January and negotiate a new premium with your insurer ahead of time to ensure you get the best deal. As people attempt to reorganise their lives and save money in the New Year, January is a popular time for people to look into renewing their health insurance policy so shopping around in January could provide fruitful results.
When you're looking for a new medical insurance quote, remember that you need to be as honest as possible about your health. That means making as accurate a guess as you can about basic questions, like whether you smoke and how many units of alcohol you drink in a week. You also need to ensure that you divulge any pre-existing conditions and provide your correct age, as this could hamper any claims you make on your policy in the future. But also a point worth taking note of for current policy holders is that everyone can switch policies without losing cover for pre-existing conditions.
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