If you are a Verizon Home Internet customer, brace yourself for some news that might affect your monthly bill.
Bloomberg reports that the telco giant is all set to increase the price of its wireless home internet offering by $10, marking the second such increase in just two years.
Starting this summer, the Home Broadband plan will jump to $35 per month, but there is still a way for savvy customers to save on their bills.
Read on to find out how you can avoid the price hike and keep more money in your pocket.
Verizon Home Internet Service Price Hike
Verizon's Home Internet service, one of the few growth areas for the largest US wireless carrier, has been a popular choice for customers seeking a reliable, high-speed connection.
With the rise in remote work and digital entertainment, the demand for internet services has surged, leading to increased reliance on broadband connectivity.
As a result, Verizon's decision to raise the prices of its popular offering is seen as an effort to bolster profit margins amid slowing growth in mobile phone subscribers.
PhoneArena tells us that customers who wish to continue paying the current rate of $25 per month must act fast and bundle their Home Internet with a top-tier unlimited wireless plan and sign up for AutoPay.
By doing so, they can lock in the lower rate and save $10 monthly. However, for those who prefer not to bundle their Home Internet with a wireless phone plan, the new monthly cost will be $50 with AutoPay or $60 without.
Some Viable Alternatives
Verizon's move to increase home internet prices is not surprising, considering that competition in the industry has also raised rates over the past few years.
However, it is essential to note that while the price hike might seem steep for some, more affordable alternatives are still available.
For customers seeking cost-effective options, Verizon's 4G LTE home internet plans start at $25 per month. However, these plans require customers to add a wireless service and opt for AutoPay.
The wireless broadband offer is open to new customers, requiring them to sign up for Verizon's Unlimited Plus plan for mobile phones. This plan starts at $65 per month for a single line and promises various features and services for mobile users.
While customers might be concerned about the price hike, analysts expect Verizon to report positive growth in its home wireless subscribers for the second quarter. The company is projected to have added over 255,000 home wireless subscribers, indicating that their Home Internet services remain in high demand.
For customers who have been considering a Home Internet plan from Verizon, now is the time to act. The price hike is set to take effect on July 26, so acting quickly can save you from paying the higher rate.
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