Ring to raise basic doorbell subscription prices by 43% – and you've less than a week to use our trick to beat the hikes

Home security manufacturer Ring, which is owned by Amazon, sells popular products including doorbells and security cameras which record what's going on outside your home – whether you want one for security purposes or to keep track of deliveries, for example.

Alongside devices, Ring sells subscriptions that allow you to save and share video recordings from your doorbell or security camera. You don't need a subscription to use a Ring device, but without one you can only watch footage live.

Ring is hiking the price of its basic subscription by 43%

The price of Ring's 'Protect Basic' plan will increase on your first renewal date on or after Monday 11 March:

• If you pay annually, prices per device will rise by £15 (43%), from £34.99 a year to £49.99 a year.

• If you pay monthly, prices per device will rise by £1.50 (43%), from £3.49 a month to £4.99 a month.

Currently on a free trial? If you subscribe and your first billing date is on or after Monday 11 March, you'll pay the new price.

Ring's pricier 'Plus' subscription will remain at £8 a month or £80 a year. This service covers more than one device at a single location, plus additional extras, such as extended device warranties.

Want to stick with Ring? Check if you can cancel now and rejoin before the price hikes take force

If you're unhappy about the increases and want to stick with Ring's basic plan, you can cancel your current subscription and get a pro-rata refund of any unused days left. You can then take out a new subscription on the same device before Monday 11 March. As MoneySavingExpert.com founder Martin Lewis explains:

So if, for example, you bought an annual subscription and cancelled after six months, you'd get a refund for the six months you didn't use. Or if you paid for a monthly subscription and cancelled after 15 days, you'd get a refund for the remaining number of days in that month.

You can then take out a new annual subscription before Monday 11 March and you'll be locked in at the current cheaper price for at least a year – though of course prices may rise again next March.

Anyone thinking of getting a Ring subscription for the first time should also try to lock in an annual subscription before Monday 11 March if they can afford to do so.

We've got step-by-step info on how to cancel your Ring subscription below. You just need to make sure you download any videos you want to save before you cancel. Fail to do so and you will no longer be able to save, review and share any video recordings as they'll be permanently deleted when your subscription is cancelled.

Want to leave Ring? You can cancel penalty-free AND get a pro-rata refund

If your Ring service no longer offers value to you, you could consider cancelling completely. You can still watch live footage, get motion-activated notifications and talk to people through the doorbell/camera without a subscription.

You can't, however, link your Ring device to any other doorbell or security camera subscription services.

To cancel your Ring subscription:

• Log in to your account on Ring.com.

• From the top menu, select 'Protect Plans'.

• Find your subscription plan and click 'Cancel Plan', then 'Continue'.

• Choose whether you want to cancel your plan straightaway or at the end of the billing cycle. To get a pro-rata refund, you'll need to cancel straightaway.

• Click 'Cancel Ring Protect'.