April 13, 2023

Can you save money by switching broadband provider?

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With broadband customers expected to face rises of more than 14% in their monthly bills, this study could be of interest to you.  

  • Over a third of Brits (36%) admit they’ve never switched broadband provider missing out on potential savings of £162 a year.Uswitch.com broadband expert, Max Beckett, encourages consumers to switch and save when their broadband contract ends.
  • Read this broadband statistics report for more information

Over two-fifths of adults aged 45 and over admit they’ve never switched providers, with one in 10 seeing an increase of up to £15 per     month in the last year.

  • Almost half of men (49%) and 44% of women have seen an increase of at least £4.99 per month in the last year.

Over a third of Brits admit they’ve never switched broadband providers, despite this potentially leading to them paying more than they should to stay connected.

That’s according to a new broadband statistics report by Uswitch.com, which investigated the demographic differences in broadband spending across the country, as well as analysing those who are most and least likely to switch providers.

Uswitch.com found that by switching broadband providers consumers can save up to £162 a year on their bills. Despite this,over a third (36%) of Brits admit they’ve never switched broadband providers,with three in 50 stating that they wouldn’t make the switch.

Table 1: Those who have never switched are payingthe most for their broadband bundle

On average, two-fifths of those aged between 45-54 admit they’ve never switched providers. One in ten of those haveseen a monthly payment increase of £10-£15, the highest of all age groups.

Table 2: Men are less likely to switch providers than women

The broadband statistics report found that men are less opento changing providers, with 7% saying they would not change, compared to 6% ofwomen. Almost half of both men (49%) and women (44%) have seen anincrease of at least £4.99 a month in the last 12 months

The monthly broadband spending for men hasincreased 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 two in five Brits saw an increase of atleast £4.99 per month in their broadband spending

More than two in five (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 three in ten of those earning up to £25,000 per year saw an increase of up to £10per month in their broadband spending. This could be due to the fact that four in ten (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 three infive of them seeing an increase of at least £4.99 per month.

Brits working from home are most likely to switch providers

The broadband statistics report also revealed thatthe industries where working from home is most common are 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.

Of those working in Sales, Media and Marketing,three in five (60%) have not seen any increase in their broadband prices in thelast 12 months, compared to less than half (47%) of those working in Travel and Transport.

Max Beckett, broadband expert at Uswitch.com, says: When you near the end of your broadband contract, it’s important to check if there’s a better service from another provider that’smore suited to your needs. This could mean faster speeds, a cheaper monthly payment, better customer service or even all three.

“When your current package ends, your monthly charge willmost likely rocket up from your fixed-term offer to the provider’s ‘standard’ price. This means you could be forking out a lot more than you expected if you don’t re-contract or switch to a new plan. 

“However, some providers such as Community Fibre will increase prices by just £2 per month once customers' minimum term contracts come to an end.

“Typically, consumers can save an average of £162 a yearby switching to a new broadband deal.

“Price is naturally a big factor when deciding what service to sign up for. But with many of us working and learning from home nowadays, a fast and reliable broadband connection is equally as important. 

“It’s usually really easy to switch broadband providers. All you need to do is check what’s available at your postcode on a site like Uswitch, select the deal that’s best suited to you, and sign up with the provider you want.

“After selecting a switch-on date, you’ll receive a new router from your provider. Then it’s just a case of plugging it in and entering the router’s password. You should be online in a matter of minutes.”

Forfurther information on relevant broadband statistics for 2022, please visit Uswitch.com here.

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