Insurance Comparison Calculator
Compare two insurance scenarios using premiums and expected out-of-pocket costs.
Calculator
What this result means
The result is an educational scenario, not a premium quotation. Real pricing can depend on age, location, claims history, insured value, coverage limits, occupation, vehicle details or medical underwriting depending on the product.
How to compare policies properly
Compare like with like: coverage limit, deductible or excess, exclusions, waiting periods, territorial scope, optional benefits and cancellation terms. A cheaper premium can be worse value if the coverage differs materially.
Before you buy
Ask for the current policy wording and product information. Confirm who the insurer is, how complaints are handled and whether the intermediary is appropriately authorised.
Compare total expected cost, then compare protection
The calculator adds premium and an expected out-of-pocket amount to create a simple annual scenario. It is intentionally narrow: a lower total does not mean a policy is superior. Coverage limits, exclusions and the probability of a claim are not reduced to a single score.
Run several scenarios
Use a low-claim scenario, a moderate scenario and a high out-of-pocket scenario. If the ranking between Policy A and Policy B changes easily, the decision is sensitive to assumptions and deserves closer examination of the contract wording.
Keep non-price differences visible
- Coverage limits and sub-limits.
- Deductible or excess rules.
- Provider network or repair restrictions.
- Claims service and reimbursement method.
- Cancellation and renewal terms.
Score only what you can define consistently
A comparison score is useful only when each policy is assessed under the same criteria. Define what a benefit means before assigning a value, and keep price separate from coverage quality. If a policy contains a feature that cannot be reduced to a number, record it as a note instead of forcing it into the score.
Revisit the weighting before deciding
A high score can be misleading if the weighting does not reflect your actual risk. Test a second weighting with more emphasis on exclusions, deductible or the benefit you care about most. If the preferred result changes easily, review the underlying documents rather than relying on the score alone.
- Keep assumptions consistent between scenarios.
- Use the result for planning, not as a quote.
- Confirm final terms in the insurer’s current documents.