Brits are being urged to check their broadband contracts after research found millions could be paying significantly more than necessary
Brits are being warned a simple broadband error could be costing them a lot of money. Homeowners are always looking for ways to cut corners and save money at every chance they get. And new research has revealed that some Brits could be paying more than they need for their broadband because they aren’t doing this one step.
Figures from a survey issued by Go.Compare broadband revealed that one in nine UK adults (11%) are currently out of contract with their broadband provided. With them yet to switch to a new deal, it could mean they have been switched to a more expensive standard rate as they are classed as an out-of-contract customer.
Due to this, they could be paying more than £20 extra a month compared to their contract rate, Hey! Broadband states. The Go.Compare survey revealed that men and younger adults were most likely to make this mistake and be out of contract.
From the survey, 12% of men were yet to switch to a new deal compared to only 9% of women being out of contract. It was also revealed that 15% of under 25s were also in the same position, which was the highest percentage of any age group. The survey also found that 4% of adults were unsure where or not they were out of contract with their current provider.
To avoid this costly error, Brits have been advised to check when their latest broadband contract ends and then switch to a new deal to avoid paying higher rates. Catherine Hile, a Go.Compare spokesperson, said forgetting to check when your contract is up could be a very costly error.
Catherine said: “Out of contract rates are almost always much higher than contract prices, with costs going up by around £20 per month or even higher in some circumstances. “For example, my own broadband price will rise by around £50 a month if I don’t switch at the end of the contract.
“So forgetting to compare deals and switch providers when your contract is up can be a very costly error. This is especially important now, as providers’ annual price hikes are set to take effect in a matter of days [April]. This means your rate could go up even more if you don’t switch by the end of the month.
“But you have the chance to make a big saving and avoid the increase altogether by locking into a new contract before the rises are implemented. Doing this sooner rather than later could bring substantial savings over the course of the year. Try to avoid overpaying for faster speeds than you need, too.
“While it’s tempting to go for the fastest speeds you can afford, there’s no need to fork out if you only use your internet for basic activities. For example, if you just use your internet to browse your emails and watch low-resolution videos from time to time, speeds around 30 Mbps might suffice.
“On the contrary, if you have a house full of people who are streaming 4k videos, gaming online and working from home at the same time, you’ll probably need speeds in excess of 100 Mbps. It can be complicated to work out what speeds you need, but there are plenty of speed recommendation tools out there to help you work it out.
“Remember that there are other factors to consider aside from speed and price, too. Many broadband packages include extra perks like streaming deals and free gifts, so be sure to take these into account to make sure you’re getting the best value for money.”
