Do you know when your broadband contract ends? If you don't, you aren't alone. Millions of people have no idea about the status of their deals.
Many are already out of contract - and it's leaving them out of pocket.
Industry watchdog Ofcom are introducing new rules this month to tackle the problem. They'll force broadband providers to be a whole lot more proactive about making sure you know your options, telling you when your contract ends, and also what better deals they could give you.
Currently, research shows that around one in seven users don’t know whether they're still tied to their original deal, and a further one in eight believe they are still in contract, but have no idea when it ends.
The reason why this matters is that if you stick with a deal after the initial agreement is over a so-called "loyalty penalty" kicks in and you end up paying, on average, 20% more than you should be for your internet access. That figure rises to a hefty 26% if the deal includes a pay TV bundle.
Ever eager to ensure customers can access the best deals possible, Ofcom's new rules come into force on 15th February.
From that date onwards your broadband supplier will have to:
- warn you between 10 and 40 days before your contract is due to end, by letter, email or SMS
- inform you of the price you pay today, and what you will pay after your contract ends
- tell you of any other changes that will happen to your deal
- give you information about any notice period needed if you want to switch providers
- show you the best deals they currently offer, including prices usually reserved for new customers
- continue informing you of their best prices every year you remain on your old plan
What to do when your broadband contract ends
But even with this help, the broadband market can be difficult to navigate. The wide range of deals available can be confusing, and it's not always clear what the best choice is.
Our new guide on what to do when your broadband contract ends explains all the rule changes in full, and outlines your options. Once your deal is up you're in a strong position negotiate a new price with your existing provider, and you're also free to shop around for the best broadband deals and switch to a new ISP.
We've also set up a helpline you can call to get advice on what your next steps should be. If you're unsure what the right choice is, need help choosing a provider, or have questions about contracts or the switching process, our impartial advisors are on hand to help. Give us a call on 0800 093 0405, or you can arrange for us to call you if it's more convenient. We're open from 9am to 8pm weekdays, and 9am to 6pm on Saturdays.