More 'switching' contracts - survey

More Irish people are shopping around before buying into service contracts for broadband, mobile phones or electricity, according…

More Irish people are shopping around before buying into service contracts for broadband, mobile phones or electricity, according to a survey by the National Consumer Agency (NCA).

Some 12 of the 17 contract areas surveyed show increases in the incidence of consumers changing service providers in search of better value.

Of the people who changed, four out of five have saved money as a result, the survey, which was published today, indicated.

The areas where changing of providers has increased include the car insurance market; electricity supply market; the fixed line and mobile phone line markets and home insurance market.

More people are changing their broadband internet provider than any other, with 14 per cent of consumers saying they have done so in the last 12 months, an increase of 8 per cent in the last year.

Significant changes are also evident in the electricity market where 4 per cent of customers have switched providers over the past 12 months. Some 12 per cent said they plan to change their electricity supplier in the coming year.

The NCA's Fergal O'Leary said increases in consumers' willingness to change are a positive market development.

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“It shows people are prepared to take action if they spot a bargain in the market,” he said.

"The broadband and mobile phone areas are traditionally very competitive but the increase in people moving [providers] shows when a good deal arises more people are happy to put in the effort to make use of that".

The report can be viewed on the NCA's website, consumerconnect.ie.