Two components of a website are the domain and hosting. Websites are accessed easiest with these.
Domain names are labels typed into web browsers that point to a particular website. Usually they’re a word or words pertinent to the website. Each domain is unique. There can only one of each in the world.
Hosting is a server space for a website. It’s available 24-7 for anyone anytime it is accessed. Websites usually contain coding that shows what the site visitor would view as a website.
Finally, the website coding can reside in the hosted web space. That’s what makes the site appear. Or the coding may just jump off (redirect) to go to a different address.
My favorite analogy is to a house. There’s an address (domain name). It’s rented each month (hosting) so one can show off its furniture (web coding). It doesn’t matter whether there’s a little or lots of furniture – they pay rent (hosting).
Does your web company require hosting or domain contracts? Reputable ones won’t. They’re willing to ALWAYS provide the best service to you instead of just before contract renewals.
Contact your hoster to determine whether they’ve locked you in or you’re free to move where you can get the best service.