If you currently have a router allowing an internet service provider (ISP) to connect you to broadband, it's probably worthwhile checking what plan you are on and when it comes to an end.
Millions of homes across the UK are almost out of contract - meaning that they will soon be paying more than needed in exchange for worldwide web access.
When an initial offer ends, most ISPs will place customers on a standard tariff instead of switching them over to a cheaper deal - with many basic packages making customers over £10 per month worse off.
Read more: Martin Lewis warns of broadband price rises and explains how to lower your bills
The Express reports that to make matters worse - almost all of the major ISPs are going to hike costs in April 2023 with some bills going up by as much as 15%t. In turn, the bigger your bill is now, the more it will go up once the increases come into force.
For example, if your broadband price is currently £60 - you should expect to pay £69 after April. However, slash your internet plan down to £25 and the hike will cost you just £3.75 more.
This is why it's vital consumers shop around and switch to something cheaper as soon as possible. Consumer group Which? has just sent out a warning advising consumers to make changes to their plans.
The alert comes after it asked more than 5,000 out-of-contract customers whether they had haggled or switched and how much money they had saved in the process. The official survey shows that on average, TV and broadband customers saved £162 by making a move to a new supplier.
Even customers who did not switch but took the time to haggle with their broadband and TV provider saved an average of £90 a year.
Alarmingly, the Which? survey revealed that one in five broadband customers did nothing when their contract ended - despite potentially facing a hefty increase as they move from an introductory offer to a pricier standard tariff. Sadly, both in-contract and out-of-contract customers will almost certainly be subject to annual inflation-linked price hikes depending on their provider.
Last year those price hikes were an eye-watering 10% and this year they are predicted to be even higher as some mobile customers could face rises of up to 18%. This means households not taking action now are most at risk of paying through the nose at a time when budgets are already stretched by the ongoing cost of living crisis.
While no price hikes have yet been confirmed, Which? is calling on all providers to carefully assess what level of mid-contract price rises can be justified in the current cost of living crisis and allow customers to leave their contract without penalty if prices are hiked mid-contract.
Speaking about the issue, Natalie Hitchins, head of home products and services at Which?, said: "While our findings show that out of contract customers can avoid mid-contract price hikes by switching to a new provider or haggling with their current one, those still signed up to mobile or broadband contracts could be hit with price increases that could be as high as 18 per cent.
"Given the unrelenting cost of living crisis, Which? is calling for all providers to allow all customers to exit their contracts penalty free."
And Which? aren't the only financial experts issuing broadband warnings across the UK.
Earlier this week, Money Saving Expert founder Martin Lewis took to his ITV Money Show to detail what the price changes mean to UK billpayers. Speaking on the slot, he said: "If they enact them this year - and the likelihood is they will - this could mean 15 per cent-ish hikes this spring.
"This usually happens in April for most of the major broadband providers, which is going to be another hit for many people. If you’re paying £40, that’s £6 a month extra.
"Even switchers’ deals will probably do this but of course, it’s £6 a month extra on £40 or if you pay £20 a month, it’s only £3 a month extra."
He added: "Switching... don’t worry about it too much - I can’t promise it will be smooth every time - it’s only two hours-ish of downtime. It’s your new firm who sorts it out for you and they’ll cancel your old provider.
"Some of you… don’t want to switch, you like where you are, in which case: haggle.”
The financial guru continued: “As a loyal customer, the first thing I would do is, I’d get on the phone and I’d say: I’ve seen what you’re charging new customers. I’d make sure you’ve seen what other providers are charging in your area, because it’s postcode dependent… and say I’m not willing to pay that amount, can you offer me a better deal?
“If they say no… you say I want to go through to customer disconnections… this is where they can do the big deals. Always be polite and if they don’t give you that price, I would be pretty annoyed and I’d want to ditch and switch and go elsewhere.”
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