Verizon Wireless customers have been getting notifications beginning this week regarding a change in price for a couple of the services provided by the nation’s biggest carrier. Specifically, Verizon’s extended warranty and Total Equipment Coverage plans will both be increased by $1.01, making them $3 and $8, respectively.
The change will go into effect July 25th for new customers, and at some point in September for those who have already tied the knot with Big Red. Unfortunately I was not immediately able to find out whether Verizon considered this a material adverse change, though similar changes in the past have allowed consumers to use a price increase as a way to get out of their contracts early. Still, that might not apply to this change considering insurance plans are an optional service and are not forced upon the user’s contract.
It’s worthy to note that Verizon still offers one of the lowest cost insurance plans in the game. They’re either cheaper or on-par with competitors, and often provide more affordable deductibles for replacing lost, stolen or broken smartphones. In the grand scheme of things, $1.01 more doesn’t seem all that bad, though I wouldn’t be surprised if more than a few of you disagreed.