Over the past couple of days, we’ve had a couple of sources reach out to let us know that Verizon is on the verge of raising the prices of their Extended Warranty and Total Equipment Coverage (TEC) plans this month. Each will jump $1.01 for basic and smartphones (excluding the iPhone) on July 25 for new customers (or those new to EW and TEC). So you are looking at $3.00 for and Extended Warranty and $8.00 for TEC. If you are currently enrolled in either service plan, you will have until September 26 before your bill will change.

For those who are already enrolled, the Extended Warranty will jump from $1.99 to $3.00 per device per month in September, while TEC will jump from $6.99 to $8.00. The iPhone and tablets will remain at $9.99.

Here are some additional details:

Why the price change? We work to deliver a superior customer experience and to maintain costs so that our customers can protect their wireless investments. To continue to offer customers the best choices in wireless equipment protection, the EW and TEC price is changing. Timing -New customers: effective date is 7/25/13. New customers include those who are: New to Verizon Wireless and to EW or TEC.

Existing customers adding EW or TEC for the first time to an existing or new line of service. -Existing customers with EW or TEC service: effective date is 9/26/13.

-Existing customers will be sent notification letters of the price change between 7/10/13- 7/26/13.

So, there you have it.

Update: We reached out to Verizon and they have since confirmed the changes will go live on July 25.