Verizon is announcing a new price lock policy today, and the timing is probably no coincidence. The company is extending a three-year price guarantee on certain plans, both for new and existing customers.

The wireless carrier said today that it's introducing an "industry-leading guarantee: a 3-year price lock." Under this promotion, myPlan and myHome network plan customers, both current and new, will have their rates locked in for the next three years. About half of the company's customers are on myPlan, meaning this change will affect many people.

Today, Verizon announced the rollout of Price Lock Guarantee. Just as it sounds, this policy locks the price of your plan so your bill will stay the same for the next three years. Whether you’re a new or existing customer, you’ll be automatically enrolled if you have myPlan or myHome.