Millions of UK households could be missing out on hefty broadband savings simply because they forget to switch providers, a new study has found.
According to research from Go.Compare, around 1.3 million homes in the UK are not switching broadband deals regularly enough to maximise savings, with forgetfulness cited as a key factor by 6% of broadband users who don't switch often. The study found that over three-quarters (77%) of UK broadband users fail to change providers as often as needed to save the most money. As a result, these households could be leaving up to £58 a year on the table by not switching to cheaper deals with the same speeds.
This amounts to approximately £76.6 million in potential savings nationwide.
Women were twice as likely as men to forget to check for better broadband offers, with 8% of women who don't switch regularly saying forgetfulness was the reason, compared to 4% of men. Younger users also tended to forget more, with one in 10 under-35s citing forgetfulness, compared to just 4% of those over 54.
Despite forgetfulness, convenience remained the most popular reason for not switching providers more frequently.
Around two in five (39%) said it was easier to stay with their current provider, even though Ofcom introduced the One Touch Switch process last year to streamline changing providers. Reliability was another important factor, with 37% saying they don't switch because their current provider has been highly reliable.
Other reasons for not switching included doubts about finding cheaper deals (16%), satisfaction with customer service, or keeping bundled packages that include TV deals (both cited by 15%).
Catherine Hiley, broadband expert at Go.Compare, said: "Things like introductory rates and mid-contract price rises are commonplace in broadband deals, so you're more likely to see costs creeping up if you stick with the same provider for a long time.
"This means you can usually find a cheaper deal by comparing packages when your contract is up, without having to settle for slower speeds."
According to Ms Hiley, the "best time" to compare deals is around a month before your contract ends, as you'll avoid paying early exit fees. She said: "Of course, it can be easy for this to slip your mind, so it's worth setting a reminder on your phone or calendar for when it's time to look over deals."
Ms Hiley added: "Changing providers is much more straightforward these days, too, as Ofcom launched its 'One Touch Switch' process last September. When you buy a deal from a new provider, they'll tell your current provider that you're leaving, so there's no need to be put off by the thought of switching being a hassle."
