In a recent survey, more than a third of Brits (36%) admitted that they have never switched broadband provider. As a result, these people have missed out on potential savings of up to £162 per year.
In total, more than two-fifths of adults aged 45 and over have never switched provider. This has led to one in 10 of these individuals seeing a £15 increase in their bills each month.
According to the data, there's a direct correlation between age and the likelihood of switching. While 30% of people aged 18-24 have never switched, this rises to 39% of people aged 45-54 and 40% of those aged 55+. The only outlier is the 35-44 age group. 43% of people in this bracket have never switched provider.
When looking at average broadband cost per age group, those aged 35-44 are actually paying the least per month on average, with a typical person in this age bracket paying £37.94 for their broadband. Those aged 45-54 are paying the most. People in this age bracket are charged £43.66 per month on average for their broadband.
If you haven't switched in more than a year, you may be out of contract. If this is the case, you'll likely find a much better deal by switching provider. To see what's available in your area, head over to our best broadband deals page today.
Brits are seeing their broadband costs increase
Over the past 12 months, almost half of Brits (46%) saw their broadband bills increase by at least £4.99 per month.
When digging into the data, we discovered that 30% 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 40%of them have never switched providers.
Meanwhile over a third (34%) of those earning up to £45,000 have never switched providers. With this, almost three in five of them saw an increase of at least £4.99 per month.
On average, by switching to a new broadband deal, a customer can save around £162 every year.
Why should I switch provider?
If your current broadband contract has either ended or is nearing its conclusion, then you should check whether a better deal is available with a different provider.
By scouring the market and actively looking for the the best broadband deals available, you're likely to find an option where you receive faster speeds, a cheaper monthly payment or better customer service. Plus, by signing up with a new provider for the first time, you may receive a welcome gift. Some providers are now offering particularly generous signup offers, such as £100 gift cards.
When your current deal ends, your provider will likely switch you onto a rolling contract. This will likely be much more expensive than the price you were paying when you had a fixed-term contract. Ultimately, this means that you may be paying out a lot more than you expected.
By switching to a new broadband deal, you may be able to save more than £150.
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Tom is a freelance copywriter and content marketer with over seven years' experience. Originally from an agency background, he is proud to have worked on campaigns for a number of energy providers, comparison sites and consumer brands.