How much can you save by switching broadband providers? Mozo has the answers

family using devices in a home

With the rising cost of living, everyone is looking for ways to save money and broadband internet is a good place to start.

New data by Mozo has found that by switching from the most expensive to the least expensive Standard Plus broadband plan, customers could save as much as $1,194 a year.

Similarly, for those wanting to take advantage of the new 5G technology, you can save up to $1,114 by switching to the cheapest 5G home broadband plan.

In addition, Mozo findings show that Australians could be overpaying for their broadband plans by up to 58% annually with significant price differences between the most and least expensive plans across the board.

What to look for in a new broadband plan

It can be difficult to know what to look for when choosing a broadband plan. Mozo spokesperson, Tom Godfrey explains that the important variables to consider are download speed, type of contract and price.

Start with download speeds. As a general guide, 50mbps is appropriate for a household where one to two people may be watching TV or listening to music. If you have a larger home with numerous users online at the same time, 100mbps could be a better option, allowing multiple individuals to simultaneously stream television or play online games.

So who are the providers to look out for?

For the 2022 Mozo’s Expert Choice Broadband Awards, our experts compared 79 broadband providers and calculated the minimum cost of each plan while taking into account the set-up costs, monthly charges, lowest price modems available and introductory discounts.

These are the companies that took out awards:

  • Flip won the award for Broadband Provider of the Year.
  • Belong took out awards in both the Standard (NBN 25) and Fast (NBN 100) award categories.
  • MyRepublic was recognised with awards, coming out on top in the Super Fast (NBN 250), Ultra Fast (NBN 1000) and Creator (NBN 100/40) categories.
  • Mate won awards in both the Creator (NBN 100/40 ) and Super Fast NBN (250mps) categories.
  • Occom received awards in both the Standard (NBN 25) and Standard Plus (NBN 250) categories with their products Boost (NBN 25) and Boost Plus (NBN 50).

Tom Godfrey explains that “while you might not have heard of some of these smaller broadband providers, it really does pay to look past the well-known names and seek out those offering potential savings.”

If you are wanting to compare energy deals and find the best deals for your household, check out our broadband home page for more information.