New research from Uswitch.com reveals that consumers who have never switched broadband provider, including nearly 40% of people 45 or over, could be getting a bad deal on their broadband.
Researchers revealed that by switching broadband provider, consumers can save an average of £162 a year on their bills. Despite this, over a third (36%) of Brits have never switched broadband providers, with 3 in 50 stating that they would never make the switch – and the over 45’s are paying most of all.
Those who have never switched provider are paying highest broadband rates
|Age group||% who have never switched provider||Average broadband spend per month|
On average, two-fifths of those aged between 45-54 have never switched provider. Potentially as a result of this, 1 in 10 of the same age group have seen an increase between £10-£15, the highest of all age groups analysed. The over 55s are spending the second most each month (£41.37), with over two-fifths (40.25%) of them stating that they have never switched providers.
Men are less likely to switch providers than women
The report also found that men are less open to changing providers, with 7% saying they would not change at all, compared to 6% of women. Interestingly, almost half (49%) of men have seen an increase of at least £4.99 a month in the last 12 months, compared to 44% of women. The monthly broadband spending for men has increased by £3.82, 7% above the UK average (£3.58). In comparison for women, it stood 5.8% below the UK average at £3.37.
More than 2 in 5 Brits saw an increase of at least £4.99 per month in their broadband spending
More than 2 in 5 (46%) Brits saw an increase of at least £4.99 per month in their broadband spending over the past 12 months. When analysing broadband spending by wage brackets, it was found that 3 in 10 of those earning up to £25,000 per year saw an increase of up to £10 per month in their broadband spending. This could be due to the fact that 4 in 10 (40%) of them have never switched providers. Additionally, over a third (34%) of those earning up to £45,000 have never switched providers, with almost 3 in 5 of them seeing an increase of at least £4.99 per month.
Brits working from home are most likely to switch providers
The industries where working from home is most common are also among the most likely to switch providers and not see an increase in their monthly broadband spending. Just under a fifth of workers in Sales, Media and Marketing (18%), HR (19%) and IT and Telecoms (19%) have never switched providers, with those in Travel and Transport being the least likely to switch (48%). Interestingly, 60% of those working in Sales, Media and Marketing have not seen any increase in their broadband prices in the last 12 months, compared to less than half (47%) of those working in Travel and Transport.
Catherine Hiley, Uswitch.com broadband expert, says:
“Whenever you near the end of your broadband contract, check to see if there’s a better service more suited to your needs. This could mean faster speeds, a cheaper monthly payment or sometimes both.
When your current package ends, your monthly charge will most likely rocket up from an introductory offer to the provider’s ‘standard’ price. This means you could be forking out a lot more than you expected if you don’t switch to a new plan.
Typically, consumers can save an average of £162 a year by switching to a new broadband deal.
Price is naturally a big consideration when deciding on what service to sign up for. But with homes relying on the internet more than ever before, getting a broadband connection that has the right combination of speed and reliability is equally important.
The switching process in most cases is simple. Often when you switch to a new provider, they’ll send you a new router and you’ll be able to just plug it in, enter your new password and be online in a matter of minutes.”