Sticking with same internet plan could cost Aussies up to $1,000, Mozo finds
You would think that a speedy, affordable internet connection would be a top priority for many these days. Right? Well actually no. In fact, 61% of Australians* Mozo surveyed recently have never switched internet providers!
This stat might suggest that most people are super happy with their broadband service, but that’s not the case either. Nearly 20% of those surveyed said slow download speeds and pricey rates were leaving them pretty dissatisfied*. Despite the dissatisfaction though, 60% of those unhappy customers said the hassle of switching meant they would stick with their current internet provider*.
Internet users missing out on savings
It just so happens that our research team recently did a tonne of research for the 2021 Mozo Experts Choice NBN Awards^. After comparing a whopping 179 plans, the team found that of these the most expensive NBN100 plans were almost double the price of the cheapest NBN100 (Mbps) plans. That means that by switching someone could save as much as 48% on this type of broadband deal!
Of all the broadband deals the team compared, Mozo found that the cheapest NBN100 plan was around $975 per year, while the most expensive was $1,992. “With more than one hundred plans to choose from and significant savings of up to $1,017 on offer, it’s hard to understand why more people are not comparing prices, switching plans and pocketing the extra cash,” says Mozo spokesperson Tom Godfrey.
If you’re not after an NBN100 plan, we also crunched the numbers on NBN25, NBN50 and NBN250. For these our team looked at costs over a 12-month period for some of the cheapest and some of the most expensive NBN plans, for those compared. The potential savings were:
- $672.40 for Standard NBN25 plans
- $845 for Standard Plus NBN50 plans
- $1,017 for Fast NBN100 plans
- $492.12 for Super Fast NBN250 plans
Demand for fast internet speed
With on and off-again lockdowns and travel restrictions, people all around the world have been using the internet to connect more. Australia is no different. Nearly 30% of those surveyed said they had increased their internet consumption over the past 12 months.*
Plus, 18% of those who did switch NBN plans, did so for a faster internet connection.*
“Download speeds are a key factor in Aussie’s satisfaction with their NBN service and with 5G on the horizon we could soon have more choice when it comes to how we connect,” says Godfrey.
If you are after a faster, more affordable NBN plan, you might be interested in checking out the broadband offerings from Tangerine Telecom, MyRepublic and Mate. All three of these home internet providers won big in the Mozo Experts Choice Awards.
- Tangerine Telecom was named NBN Provider of the Year 2021 and scooped up awards for its Standard NBN25, Standard Plus NBN50 and Fast NBN100 plans.
- MyRepublic bagged two awards for its speedier offerings, including for its Super Fast NBN250 and Ultra Fast NBN1000 plans.
- Mate took home three awards, winning for best Fast NBN100, best Super Fast NBN250 and best Creator NBN100/40 plan. The Creator award is designed to put a spotlight on plans with faster upload speeds.
Want to compare more broadband plans? Check out the deals below, or head to Mozo’s broadband homepage to read more about the NBN.
^The Mozo Experts Choice Awards are designed to highlight financial products on offer in Australia that our experts believe offer great value. Check out the methodology report for the 2021 Mozo Experts Choice NBN Awards, to read more about how the winners were determined.
*These statistics were gathered from a nationally representative survey of 1,850 Australians, commissioned by Mozo and conducted by Researchify between 20 May 2021 and 1 June 2021.