Verizon is making a play for customer trust with a new three-year price lock guarantee. The company announced that select unlimited plans will now come with a promise: no increases for at least 36 months. On the surface, this seems like a major win for consumers tired of creeping bills. But as with any carrier promotion, the devil is in the details.
What Verizon’s Price Lock Actually Covers
Verizon’s price lock applies to its latest unlimited plans, including myPlan options, ensuring that the base monthly rate won’t rise for three years. This is a significant shift from the industry’s trend of mid-contract adjustments, which have frustrated customers across all major carriers.
However, the guarantee has limitations:
- It only covers the plan’s base cost—not taxes, fees, or surcharges, which can still fluctuate.
- Device promotions and add-ons aren’t locked in, meaning financing deals or perks like Disney+ bundles could change.
- Switching plans voids the protection, so customers who later opt for a different Verizon offering lose the price guarantee.
Why This Move Matters Now
Wireless carriers have faced backlash in recent years for raising prices even for customers on supposedly “fixed” plans. T-Mobile, once known for its “Un-carrier” price-lock promises, recently backtracked on such guarantees. AT&T has also adjusted rates mid-cycle for some legacy plans. Against this backdrop, Verizon’s three-year pledge stands out—but it’s also a strategic play to regain market confidence.
The timing is no coincidence. With inflation still a concern and competitors facing criticism over hidden fees, Verizon is positioning itself as the stable choice. The catch? Customers must stay on the same plan without modifications to keep the price lock intact.
The Fine Print You Shouldn’t Ignore
While the headline sounds appealing, there are key conditions:
- Limited to Newer Unlimited Plans – Older shared-data or tiered plans don’t qualify.
- No Protection Against “Regulatory” Fees – Carriers often pass government-imposed costs to users, and these can still rise.
- Early Termination Risks – Leaving Verizon before three years could trigger early exit fees, depending on device financing.
How This Stacks Up Against Competitors
T-Mobile previously offered a “Price Lock” that promised to cover taxes and fees if prices rose—but that guarantee was quietly scaled back in 2023. AT&T and Sprint (now part of T-Mobile) have historically reserved the right to adjust plan pricing with notice. Verizon’s move is more conservative than T-Mobile’s original promise but still more concrete than AT&T’s approach.
For consumers, the real question is whether Verizon’s locked-in base price outweighs the potential for other creeping costs. If taxes and surcharges rise significantly over three years, the savings might be less impressive than they seem.
Should You Switch to Verizon for This Deal?
For budget-conscious users, a three-year price guarantee is enticing—especially if they’re tired of surprise increases. But before jumping ship from another carrier, consider:
- Verizon’s plans are rarely the cheapest, even with the lock.
- 5G coverage varies, so check if your area gets strong Verizon service.
- Promotional discounts (like trade-in deals) may expire, altering the true cost.
Verizon’s three-year price lock is a step toward transparency in an industry rife with unpredictable pricing. However, it’s not a blanket shield against all bill increases. Savvy shoppers should read the terms carefully, compare total costs (not just base rates), and decide if the trade-offs are worth it.
For now, Verizon is betting that stability will win over customers—but only time will tell if the fine print undermines the promise.
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