Verizon to pro-rate termination fees

Jun 30 2006 - 12:20 PM ET | Verizon Wireless

Verizon Wireless today announced that it will begin to pro-rate early termination fees. Unless another carrier jumps in before this Fall, Verizon will be the first national to adopt the policy. The policy will not be retroactive to contracts signed before the change, it only applies to agreements signed after the new terms are added.

There were a few other changes:

  • Customers will be notified via email of any service plans that better meet their usage
  • Any customer with a $49.99/month or higher service plan will be able to upgrade their handset after 12-months and get the same price as new customers.
  • If a phone fails past its manufacurer's warranty, Verizon will pick up the tab past the first $50
  • Contacts can be stored on the network so that they can be restored if the phone is lost or stolen