Verizon's extended warranty and Total Equipment Coverage plans are about to see a rate increase. Big Red has been sending out text messages to customers sharing the details of a new price hike on these services. Both of them will go up by $1.01. This makes the extended warranty $3 per month and the TEC $8 per month. The price change will take effect on July 25th. Currently there is no word on whether this will be considered a material adverse change in pricing which would allow customers to wiggle out of their contracts.
We will keep an eye on this for more info, but please sound off in this thread if you find anymore details before we do.
Update: We have a couple of updates to this story to share thanks to our tipster, combatmedic870. First, this new pricing change for the extended warranty only applies to Android and Windows devices. This is because it is already $9.99 for the iPhone. Second, according to Verizon, the reason they had a price increase for these services was supposedly because the insurance companies had a price increase. Obviously, there is almost no way to confirm this to be true, but it would not at all be surprising. This may not alleviate the frustration much for some but we felt it was at least worth sharing.