A staggering 9.5 million households in the UK are paying for broadband speeds they don’t need, new data shows.
Just over a third (34%) of Internet users overpay for their broadband packages, equal to an estimated £53million spent on unused speeds each month. This translates to a jaw-dropping £637million over the course of a year.
The figures come from Go.Compare, which surveyed users on their internet habits and the broadband speeds they pay for. After calculating the speeds households would require based on their usage, it determined how much they could be overpaying.
The comparison site says that those who overpay typically spend an average of £5.58 per month more than they need to on their broadband.
This means £66.96 is wasted over 12 months – enough to cover a streamer’s standard Netflix subscription for a year.
Matt Sanders, broadband expert at Go.Compare, commented: “Our latest research suggests that a large chunk of the country is spending more than it needs to on broadband, which is a real kick in the teeth when times are so tight.”
According to the findings, the majority of Britons pay for some of the fastest broadband speeds. Around a third (34%) have speeds of over 150 megabits per second (Mbps), but it’s estimated that just a fifth (21%) of internet users actually need broadband as fast as this.
Similarly, more than a quarter (27%) pay for speeds between 51 and 100Mbps, but only 12% of internet users need speeds in this range. Meanwhile, only 3% of the country settles for the slowest speeds of 15Mbps or less, yet this would be enough for 13% of users.
According to Go Compare, users who only need 15Mbps also tend to overpay the most, as just 4% of these users said they pay for speeds around this level.
One in ten of these users stated that they pay for some of the fastest speeds at over 150Mbps – despite the slowest offerings being enough for their usage. As a result, they overspend by £9 per month, equating to £113 being wasted every year.
Mr Sanders said: “Everyone’s broadband needs are different, so it can be difficult to know what speeds you actually need. The key factors to keep in mind are the number of people in your household and what you tend to use your broadband for.”
He explained: “Certain activities like online gaming and streaming 4K videos need faster speeds to run smoothly, and these speeds will be diluted if multiple devices are using the internet at once.
“So, if you live alone and only use the internet for general browsing like emails and shopping, you should be able to manage on relatively slow speeds.
“But, if your household is a family of four with multiple devices on the go, you might need to get faster speeds so that everyone can use the internet at once without being slowed down.”
