The research suggests that millions of consumers are stuck on outdated "legacy tariffs".
The average cost of broadband has fallen by at least 37% in four years and the average broadband speed has increased by at least 700% over the same period.
Consumerchoices.co.uk said that the perception of broadband as an indispensible service has emerged over recent years, but broadband services are still not being regularly compared and switched in the same way other household bills are.
Michael Phillips, product director of Consumerchoices.co.uk, said: "These results are very disappointing as there is a fantastic selection of ISPs and packages available to consumers.
"Major providers continue to battle it out for market share and in so doing drive through cost savings and service improvements.
"British consumers have switched on to the benefits of shopping around for household services such as gas, electricity and home phone -- so why not do the same for broadband?
"Even if they are satisfied with their current provider they should ask to be put on a more up to date package as the benefits to their service and bank balance will be instantaneous."
Consumerchoices.co.uk data was obtained from a survey of about 10,000 broadband users that was conducted earlier this year.