Not switching your broadband deal could cost you £69 a year
Households that don't bother to switch broadband deals at the end of contracts can see their bills shoot up by £69 a year.
While 72% of Brits have had broadband in their home for more than five years, nearly a third are still with their first provider. Price comparison website uSwitch.com has found that this means collectively they are missing out on £383 million worth of savings.
These households see their bills rise by an average of 89% at the end of the first contact as introductory offers and discounts expire.
When asked why they didn't move to a better deal, almost a third (30%) of customers said that switching was too complicated, while 23% said the process took too long.
Some 15% of broadband users said their current providers were too pushy when they tried to cancel their contract, while nearly one in 10 had been put off from moving supplier after a difficult experience in trying to do so.
Unsurprisingly, nearly three-quarters of consumers think the process over switching should be changed so that the new provider handles the move, rather than the provider the customer is leaving.
Loyalty never pays
Ewan Taylor-Gibson, broadband expert at uSwitch.com, said: "When it comes to household bills, loyalty never pays."
He added: "Those who don't switch are missing out on the perks of a highly competitive market. Deals like free broadband for the first 12 months are ripe for the picking. Unlike the mobile industry, where customers are normally tied into contracts for two years, 59% of all broadband contracts last just 12 months or less, meaning introductory deals can be taken advantage of far more frequently.
And he also pointed out that a better deal doesn't just mean a cheaper price. "Shopping around not only slashes bills, but could open the door to faster surfing speeds, limitless downloads, and perks such as free shopping vouchers."