Broadband customers who have not changed providers for more than two years could be wasting hundreds of pounds annually by remaining on an uncompetitive deal, according to analysis by Broadband Genie. The comparison site suggests households can save as much as £452 a year by switching.
The Cost of Staying Put
Research by the UK broadband comparison site indicates customers remain with the same provider for an average of three years and five months. This period is long enough for introductory offers to expire and annual price increases to accumulate.
Many customers are reluctant to move because they fear disruption. Around 34% said possible downtime put them off, while 32% did not want to contact their existing provider. More than a quarter were concerned about installation work, and 22% feared paying two providers simultaneously.
Expert Advice on Switching
Alex Tofts, broadband expert at Broadband Genie, said: “If you haven't switched in over two years, you are almost certainly overpaying. With a healthy broadband market across the UK, the vast majority of consumers have plenty of providers to choose from. Starting with a trusted comparison service is the easiest way to see all your options in one place, including exclusive deals.
“Pay attention to what speed you actually need, as higher speed tiers come with higher price tags. Once you pick your deal, the One Touch Switch system makes the transition effortless. Just complete the checkout, and your new provider will take care of cancelling your previous contract.”
How to Maximise Savings
The potential saving depends on the customer’s current package, location and the deals offered in their area. Consumers should begin comparing prices as their minimum term approaches its end rather than allowing the contract to roll over.
Tofts recommended looking at the “effective monthly cost”, which combines the subscription price and setup fees, then spreads the total across the contract. Customers should also avoid paying for speeds they will not use. As a rough guide, Broadband Genie suggests starting at 50Mb for a two-person household and adding 10Mb for each additional resident.
Homes with several people gaming, streaming or downloading large files simultaneously will need more. Annual price increases are another important consideration. Many providers add between £3 and £5 to monthly bills each April, although the exact increase must be displayed when the customer signs up.
Some smaller providers offer fixed-price promises without mid-contract increases, making it important to compare the total contract cost rather than simply selecting the cheapest introductory rate. People receiving benefits such as Universal Credit should also check whether they qualify for a social tariff. These discounted packages are designed for lower-income households and are often protected from annual increases.
Tofts added: “Switching is your superpower. Broadband providers do not usually reserve their best prices for existing customers, so start shopping around as soon as your contract end date approaches.
“Do not compare deals using the headline monthly price alone. Look at the full contract cost, choose the speed your household genuinely needs and check what will happen to the price each April.”
