Just 25% of consumers switch providers to get deals

Just one-quarter of consumers say they change billing companies regularly to avail of better deals in insurance, utilities, broadband and other household bills.

Just 25% of consumers switch providers to get deals

However, another 38% said that they generally stick with the same provider but do look around in advance, according to new research for the National Consumer Agency.

Up to 43% of people have changed at one least one product or service in the past year.

The Behaviour and Attitudes research showed that people looking to insure their car are most likely to switch provider.

Changing electricity provider is the next most popular bill change, followed by gas, then gym membership and grocery shopping outlet.

Up to 1,000 consumers were interviewed as part of the research and they revealed that gas and electricity supply is considered the easiest service to change. But changing banking current accounts was considered the most cumbersome change.

The energy market sees something like 1,000 switches every day, racking up more switches in a month than the entire banking sector sees in the year.

Earlier this year, the Central Bank announced that 11,000 people used their switcher code in the second half of last year, which amounts to less than 0.2% of the accounts in the system.

The majority of switchers saved money, with those switching mobile phones saving the most at an average savings of €24 per month.

Those changing electricity provider saved €21 on average per month while those changing car insurance and gas providers saved €15 per month.

Broadband switchers saved €13 per month on average. Three-quarters of those who switched bill providers last year described it as “easy”.

Women over the age of 50 and living in Connacht and Ulster were more likely to not switch while women in their 20s in Leinster and Munster were the mostly like to switch.

For information on how to switch, go to bonkers.ie or consumerhelp.ie.

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