Medibank Private's "rip-off" basic health cover has "won" the insurer a gong at this year's annual Shonky Awards from consumer group Choice.

The health insurer is joined by embattled superannuation provider AMP, along with "serial offender" electronics company Kogan, a dodgy IKEA fridge, a sugary cereal, and the entire pet insurance industry, in being branded a "lemon" by the group on Thursday.

Choice chief executive Alan Kirkland said the awards this year highlight "businesses and industries who have ripped off, misled and treated Australians like cash cows to be exploited".

With "junk" accident and ambulance cover that is more expensive than the cheapest bronze policy in every state and territory but Queensland, Medibank "deserves a Shonky for failing at the basics - simple and affordable health insurance," Mr Kirkland said.