By 
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.
just cancel it and buy your phones through best buy. they have the best warranty coverage.
i worked at bestbuy geek squad, don’t buy their insurance, the phones you get are some of the worst refurbs i have ever seen. also its extra pricey monthly, so unless you are planning on destroying your phone (which depending on numerous factors might get you denied for bullshit reasons) ends up pricier. also they change the terms of your agreement constantly so you have no idea what will actually happen when you need it, its a total crapshoot. they loved pushing the warranty because its almost pure profit
Thanks for the warning. I got beat buy insurance with my Note 2 because of the amazing $0. If I ever need to actually get a replacement and I run into that problem, I’ll be sure to let them know I’m aware they’re trying to push their fault refurbs. Maybe I’ll be able to make enough fuss and get a proper replacement. I know best buy was awesome enough to upgrade my ipod a few years ago, when I returned a faulty one a couple of times. Also, they were real good about honoring the warranty on my TV. So far so good with best buy protection.
They have different plans and outsource “repairs” to dozens of different 3rd parties. Phone’s get “rapid swapped” so you get sent a refurb in 3ish days. Only the really ghetto cheap prepaids get in-store swapped for a new one. Ipod’s get swapped in store mostly now (because the warranties are now more expensive, plus you have to use up your warranty and buy a new one usually not prorated), Tv warranties depend a lot on the manufacturer, the type of damage, and how long ago you bought it. The biggest problem with tv’s is a lot of times you have to wait a month or 2 to get it back if it has to be fixed(they actually fix tv’s). Also another thing they can pull on phones is tell you they don’t have any refurbs anymore and give you store credit, but it’s store credit without your subsidy (not sure how it would work with new tmobile plans) so your still pretty fucked at that point…. Also when you do warranties you have to give them tons of personal information or they will not be able to find you in the system…that information goes into ALL of bestbuys databases including the one that monitors your purchases and sends you junk mail lol they are evil.
What kind of 3rd parties are they using? If someone owned a cell phone repair store in the area could they get a best buy repair contract or?
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As a Verizon customer and
subscriber to this service, I call BS (Yes I’d love to ditch Verizon,
but no other carrier comes close in coverage where I live!). Considering
you get someone else’s BROKEN, “Refurbished”, USED phone for your
“insurance”, it’s a bit of a ripoff. Unless you manage to break/lose it
within the first couple months of release when used ones aren’t
available yet.
“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.”
No it isn’t “worthy” to note; their prices are higher on EVERYTHING else which is why they should leave the insurance pricing alone.
I won’t argue that Verizon isn’t expensive, but all in all it depends on where you’re at.
In my area Verizon covers it all. I never not have a signal. ATT has 3G in my area, but not 4G, it’s growing, but still not there. Tmobile, well, their store is 3.5 miles from my house, You get signal while you’re using their phones in store, but when I was with them I couldn’t make a call inside my house at all for 2 years, I always had to walk outside. Sprint, well, everyone that has Sprint, never can connect to Data, and if they do it’s terribly slow.
I did look into AT&T though, 5 lines, all with data(on par with what I currently have with VZW) unlim calling and texting, came out to be about $75, from memory, more than Verizon.
Also. You do understand that Verizon isn’t your phone insurance provider, right? It’s Asurion, if you go into a Verizon store with a smashed phone, lost phone, whatever isnt a manufacturer problem, Verizon will give you Asurion’s number to call. Asurion went up on their prices, not Verizon. They just bill you for Asurion.
It’s kinda like getting mad at the mortgage company because your insurance goes up.
I’m tired of companies justifying cost increases with were the sane as the other companies now so it’s ok
$8 x 24 months + $100 deductible = $300 for a used phone. I could get a brand new Nexus 4 for the same price. Nice try, Verizon.
that’s only if you use it once… use it twice a year and you could make quite the profit…. also if you use it right after a phone launches… the phone is new… :-p just sayin
You’re ‘”just sayin'” what? That fraud is acceptable? Punk kids. You just reminded me of someone who told me they loved to bash their harddrives with a hammer a few weeks before the warranty was up, so they could scam a free RMA. *PUNCHINFACE*
lol i didnt say anything about fraud… i simply said using it once n yea it looks like it a waste of money, but if you are the clumsy type or your kids are… then this deal isnt as bad as some make it out to be,,, because you come out even in the end or even save yourself money from using other services or buying 4 nexus 4’s….
except the fact you can’t use a nexus 4 on verizon
Fair point…hopefully the Moto X will change that. If not I may switch to TMo
I wish T-Mobile worked better here my contract with verizon is up in December and I would love to switch to them so I could get the Proper Nexus phones for a good price instead of paying Verizon’s full price for a new phone just to keep my unlimited data
Look up protectcell and square trade. Better coverage and cheaper.
I have protect cell it cheaper for the length of the contract.
Protect cell doesn’t look cheaper for premium smart phones. I’m assuming their admin fees are the same as a deductible?
Admin. Fees
Premium Devices
1st Admin Fee- $150
2nd Admin Fee – $200
Does square trade cover lost/stolen phones? I don’t see it mentioned.
Nevermind, I found it. No they do not.
Verizon Wirele$$.
I always love reading any Verizon-related articles on here, the sense of entitlement in the comments section is always a great source of amusement to me.
In other new after price increase on Verizon’s end ATT to follow suite.
Probably. I left ATT primarily because they copied Verizon’s lead in terminating the 20-month “early” upgrade.
Another reason I dont understand why ppl stay with Verizon.
It’s not adverse. Nice try.
You don’t have to have the warranty.
Not that I like the increases that these companies are pushing in but chances are this is an increase being pushed onto the customer from the insurance company.
Veri$on takes every opportunity to continually suck balls.
“In the grand scheme of things, $1.01 more doesn’t seem all that bad…” – If this were the only increase, I’d say fine but its not. VZW nickels and dimes at EVERY opportunity – $30 for hotspot to use the data you already pay for, increase replacement to 24 months to coincide with the contracts, app restrictions, tiered plans instead of unlimited and no more grandfathering plans without jumping through expensive hoops. Sorry, but I’m hollering BS on this one. I’m getting to the point where their coverage map is becoming irrelevant compared to all of the other expensive and cumbersome hassles. My next phone is going to be like a Maryland football game…Anyone but Dallas – aka Anyone but VZW.
Don’t pay for the hotspot when you can use your phone as a hotspot for free. There are programs out there (FoxFi, Easy Tether…) that allow you to tether using your cell phone for free instead of paying Verizon to do it for $30.
They try to nickel and dime you at any chance possible. And on top of that, we pay like 17% in taxes, too.
I dropped this “service” last time I upgraded my phone. Spending 7-8 bucks a month for two years adds up to a whole lot of BS when the “warranty & protection” plan barely covers anything. I’ve heard of so many people taking their phones in, with this plan, and then the representatives tell them that that type of accident or whatever isn’t covered. It’s a useless extra fee. I can’t wait to be done with VZW in November.
Tmobile $30 prepaid… The end… :-)
Still cheaper then Best Buy’s protection (& includes water damage) & DEFIANTLY cheaper then having to buy a phone at cost. Raising it to $8 isn’t to big of a deal for me, I’m very careful with my phone, but love having that piece of mind.
As a Verizon customer and subscriber to this service, I call BS (Yes I’d love to ditch Verizon, but no other carrier comes close in coverage where I live!). Considering you get someone else’s BROKEN, “Refurbished”, USED phone for your “insurance”, it’s a bit of a ripoff. Unless you manage to break/lose it within the first couple months of release when used ones aren’t available yet.
being the sucker I am for my unlimited data and love for 4g coverage all over the nation, I will not think twice about paying for this.
The day they take away my unlimited is the day I give them the boot. Hoping the next Nexus will have Verizon bands
Best Buy doesn’t offer replacements on lost or stolen thou..
Horrible service, paying over $120/month and now they want to charge me even more???????? Verizon is the worst company.
What company is better/cheaper than Verizon?