Verizon just revealed a new price lock policy that guarantees certain plans wont go up in cost for three years. This is for both new and existing customers. It was announced the day after President Trump decided to tariff the entire world, which put markets into a tailspin. Verizon didnt specifically mention this policy, but did say that the move was intended to give predictability to its customer base.However, there are some caveats. Customers have to be enrolled in one of the companys newer myPlan subscriptions to be eligible. Also, the guarantee only covers the base charge for the rate plan. It doesnt do anything regarding those mysterious little fees that carriers use to raise prices on the down low. BIG NEWS! Verizon is introducing a 3-Year Price Guarantee for ALL new and existing customers on myPlan & myHome, PLUS a FREE phone with trade-in and free satellite messaging! Learn how to save big:https://t.co/tabDgx5jgZ Verizon News (@VerizonNews) April 3, 2025 Theres also nothing in the fine print regarding autopay discounts, so those arent locked in. This could force a rate hike if Verizon decides alter the discount. Of course, the company will likely try to persuade consumers to increase the monthly bill of their own accord. This carrot usually takes the shape of a free phone.To that end, Verizon announced it will be giving free phones to new and existing customers. This requires a suitable trade-in device and enrollment in a myPlan subscription. The three-year price lock also covers the companys myHome 5G internet plans. Current myPlan members dont have to do anything to start this price lock process. The enrollment is automatic.This is just the latest promotion to lure customers to its myPlan subscriptions. The company recently started offering cheaper subscriptions for Netflix and Max to members. It did something similar for Google One AI Premium subscriptions. Verizon owns a minority stake in Engadget's parent company, but this didn't impact our coverage.This article originally appeared on Engadget at https://www.engadget.com/mobile/smartphones/verizon-just-announced-a-three-year-price-lock-plan-but-there-are-caveats-182320983.html?src=rss