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Verizon raising prices on equipment protection?

jiff777
Miembro

So, I entered into a contract with Verizon in October of 2014 and have faithfully fulfilled my end of the bargain by making my payments on time. Verizon sends me a letter telling me they are raising the prices on my equipment protection from $8.00 to $9.00 a month. I have not made one claim on my phone or my wife's phone since I started with them in 2012 and now they break our contract and raise the prices. This is a breach of contract, maybe a great class action lawsuit and certainly reason for moving on in October. Verizon will only change when they lose money or someone goes to jail. This from a company that used to set the standard for company service. Unbelievable.

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Re: Verizon raising prices on equipment protection?

kaebfly
Leader

I don't think add-on features, which device protection would be are required to remain a set price during the life of your contract so it wouldn't be a breach. The feature can be discontinued at any time by you or Verizon and doesn't affect your actual service contract (your device and service still function with or without having the feature). If you're not happy with the price increase you can opt to cancel the service. But if you're concerned that you may need the protection you may want to keep it and on your next device seek alternatives for protection coverage. By all means you can file a complaint but don't be surprised if you're told that it is not a violation and does not breach your contract. I've said this a ton of times but I've always felt like paying for these plans are a waste of money unless you have a history of having mishaps. Most repairs are cheaper than the deductible and premiums you have been paying. I understand the need for some people but sometimes it's better to put that money in a self insure style account (pay yourself the $8 monthly) and if a repair is required you are able to take that money plus your deductible (but often less than that) to pay for repairs yourself. And if at the end of the 2 years you never actually need to pay for a repair that's money you have saved to go towards your next device or to keep as an insurance plan rollover...as it grows you end up with the money needed for replacement if repair isn't an option.

Re: Verizon raising prices on equipment protection?

scottjw1
Miembro

I've received notice also about the change in rates. No different than your car insurance being raised. Besides, it's just $1

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Re: Verizon raising prices on equipment protection?

naansalad
Sr. Member

but that feature  is not included n your contract T&C so its not breach.

you can view that on Customer Agreement | Verizon Wireless

you have option to keep or remove that feature anytime

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Re: Verizon raising prices on equipment protection?

jiff777
Miembro

Gee, I don't recall my insurance ever going up in the middle of the year. Auto, home, etc. Sorry, if your experience has been otherwise. I realize that I can simply drop the service at anytime people. People who abuse their insurance, should  have their prices increase. Allstate rewards me for not filing claims. Those of us who do not abuse, should not suffer the consequences of the actions of others. My original point was, it should not increase until the contract is up or renewed. I understand prices increase, but wait till contract renewal or completion. The real point for me is, Verizon is making billions and prices continue to increase and service decreases. It's not personal.

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Re: Verizon raising prices on equipment protection?

kaebfly
Leader

I would agree with you if it wasn't a feature that renews monthly. You don't have a contract on the insurance. Otherwise it would something you would be required to keep until the end of your contract or you would be violating your end of the contract. It's an add-on feature. As much as you may not like it, the increase is not a breach of contract so the options are to pay the increase or to drop the feature. Not what you want to hear (no one loves an increase) but it's what the situation is right now.

Re: Verizon raising prices on equipment protection?

Verizonvacustomer757

Just got a letter today myself, raising by $1 and the deductible for my LG G3 going from $99 to $149. I don't mind the $1 extra but $50 more for deductible is crazy, unless they are going to replace it with a G4 or G5.