With each cell phone provider promising the best coverage, it’s hard to decide which one is truly the best. If you have been thinking about changing carriers or you currently use Verizon, you might be asking, why is Verizon so expensive?
There are more than just a few reasons why Verizon is so expensive, which I discovered throughout my research. So, here are the top reasons why Verizon is so costly!
Why Is Verizon So Expensive In 2023?
Verizon is so expensive because it has become a leader in the new 5G market, has high-quality cell phones, and spends a lot of money on infrastructure as of 2023. The company has expanded its infrastructure to include cell towers in rural areas, giving Verizon the top spot for coverage regardless of location but increasing costs.
Do you want to learn even more about why Verizon is so expensive and if it’ll ever change? Read below to find out all of the reasons why and if it’ll change anytime soon!
1. Leader In 5G
Verizon uses the most current technology and has been one of the leading carriers for 5G recently. Therefore, it’s the technology Verizon uses that makes it so expensive.
2. Quality Cell Phones
Not only is Verizon one of the first in 5G, but the company also has quality cell phones, which use the newest technology and are the most sought after on the market.
Further, the software and hardware on cell phones cannot be beaten and are some of the most reliable on the market.
3. Costs Of Infrastructure
The costs of infrastructure, such as connectors and towers, are part of the reason why Verizon is so expensive.
Furthermore, because Verizon has spent so much money on infrastructure, such as expanding cell towers to more rural locations, its coverage is the best in the country.
4. Government Partnerships
Verizon has made sure it capitalizes on the state and federal government by partnering with them to gain support, a bigger audience, and funding.
On top of that, accessing government contracts has allowed Verizon to branch out into broadband and cloud services, but it comes at an expense to the consumer.
So, Verizon can increase prices on cell phone packages and compete in the market that way as opposed to Apple, which focuses on competing with individual smartphone models.
5. Verizon Has The “It” Factor
About 20 years ago, as cell phones were beginning to take off, Verizon was one of the few providers in the market that offered coverage to millions of people.
Put another way, Verizon was “it” back then and continues to be the “it” brand that people seek out. With that, it’s similar to how people want an iPhone because Apple has that same “it” factor.
6. Reliable High Speed
Since Verizon spends so much money on technology and equipment, it has continuously offered high speeds that most other carriers cannot, at least not consistently.
Also, Verizon is known to have the best Internet speeds out of the cell phone carriers, and the speed is high in almost every part of the United States.
Further, the reliable high speed allows Verizon to charge higher prices because people will pay to know they’ll have consistent high speed for their daily needs.
7. Better Connectivity
Verizon has some of the best connectivity you could ask for, including in rural parts of the United States, which is another reason why it will cost you more than the competition.
Regardless of what you’re doing, you want to know your connection is strong and that it’s not going to lose signal in the middle of an emergency or significant event.
Additionally, Verizon offers the best signal strength possible, whether you’re in your living room or you’re in a basement watching movies as it moves to improve global connectivity.
8. The Coverage Is Unbeatable
Coverage with Verizon is unlike coverage you’ll find with any other carrier, which ties back into the technology Verizon uses and the quality equipment it continues to use for its services.
Typically, people are willing to pay for better coverage, allowing them to travel and go from their house to a relative’s, and know that they’ll still be able to use their cell phone.
However, because Verizon offers such comprehensive coverage and continues to improve in that area, customers end up eating some of those costs associated with expanding the network.
9. Variety Of Plans Offered
Verizon offers so many different plans and gives you the ability to mix and match your plan and the one for your entire family.
Further, it’s because Verizon has so many different plans and price points that it becomes more expensive, especially if you choose a lower-end plan.
With the lower-priced plan, you’ll end up paying even more in fees because the cell phone plans don’t offer much talk, text, or data, and you end up with a bigger monthly bill.
So, whether you want one of the cheaper plans or you go with a bigger plan for your entire family, it’s going to be costly because there are so many plans and services offered through Verizon.
10. You Can Monitor Phones At Detailed Levels
If you have teenagers, you might want to choose Verizon because of the detailed billing and information you’ll receive from Verizon.
For example, Verizon is more expensive because it offers additional details about phones on your plan, such as seeing text messages and phone calls on a particular device.
On top of that, you can see a complete breakdown of Internet usage, including seeing just one megabyte of data, which is a level of monitoring other companies don’t offer.
Another reason why Verizon is so expensive is because it has the biggest share of the cell phone market and can dictate prices without an uproar.
Additionally, people are willing to pay the prices, so why shouldn’t Verizon continue raising the prices and making more profit? The market and consumers haven’t seemed to mind.
12. You Pay For Bundled Services
Verizon offers everything you could want, including television subscriptions, cell phone plans, Internet, home phone, and more, and people love how Verizon provides all of these services.
Furthermore, instead of having multiple bills for phone, television, and Internet, Verizon gives you the option to have everything in just one bill, and that’s a huge convenience.
13. Easy Account Management
Verizon is also expensive because it offers you the ability to manage your account easily, whether you use the mobile app or the website.
On top of that, subscribing to additional services and features is simple using the Verizon website or app, and the ease of the account management is a feature you pay for.
So, whether you want to pay your bill online or add family members to your account or even add television services, you can do it all with a click of a button at Verizon!
Verizon is so expensive because it has been a reliable cell phone provider for years and is known as the “it” brand that everyone wants to be a part of.
In addition to that, the company has built its infrastructure to cover nearly the entire United States, which means consumers are paying for the upgrades, including better cell towers.
Also, Verizon is an innovator in the market, being one of the first to offer new technology like 5G, and provide better connectivity than any other cell phone provider.