The broadband contract mistake that could cost households up to £452 a year
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Letting an introductory deal roll on can quietly push up your bills, but checking your contract’s end date could reveal an opportunity to save
Households could be paying up to £452 more each year if they allow an expired broadband deal to continue without checking the alternatives.
Research highlighted by Broadband Genie found that customers remain with the same provider for an average of three years and five months. However, many introductory packages last only around 24 months.
When that initial period finishes, the monthly charge can increase and the additional costs can accumulate if the contract is left to roll on.
Alex Tofts, broadband expert at Broadband Genie, says customers who have not reviewed their package during the past two years are “almost certainly overpaying”.
The first step is to check the current monthly payment and establish when the original contract ended. If the price has risen, customers can compare it with packages available at their address or ask their existing provider about a new deal.
Price is not the only consideration. Broadband Genie suggests a speed of around 50Mb for a two-person household, although more may be required if several people stream, play games or download content simultaneously.
Customers should also examine the full cost of a package rather than relying on its advertised monthly price. Setup charges, the length of the contract and future price increases can affect the overall amount paid, while introductory rewards or gift cards may reduce the effective cost of some deals.
Changing provider may also involve less work than expected. Under One Touch Switch, the new provider will generally arrange the transfer and cancel the previous service.
A social tariff could offer another route to a lower bill. Households in which someone receives Universal Credit or certain other benefits may qualify for one of these cheaper packages.
Anyone whose broadband has remained unchanged for two years or longer can check their contract, compare the total costs of available deals and decide whether renegotiating or switching would save money.
To find out more, click here.
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