Times have definitely changed in the world of wireless. Smartphone suggested retail prices (SRP) are at an all time high; the full retail prices of some phones are in excess of $600, for example. Likely feeling the burn of insuring these high priced devices, Sprint is about to change its equipment protection plans. We've received an internal screenshot from a proven source that reveals Sprint will be making changes to its Total Equipment Protection (TEP) and Equipment Replacement Program (ERP) this month.
Effective June 17th, Sprint will restructure its TEP and ERP programs into two tiers with a four tiered deductible structure based off of a device's SRP. The new tiers work as followed:
- Tier 1: $8 TEP and $5 ERP on new devices with an SRP less than $549.99.
- Tier 2: $11 TEP and $9 ERP on new devices that carry an SRP of $549.99 or greater and customers who purchase the Galaxy Nexus or HTC EVO 4G LTE before June 17th.
- Tier 1: Devices with an SRP of $324.99 or less will pay a $50 deductible for replacements.
- Tier 2: Devices with an SRP of $325 – $549.98 will pay a $100 deductible for replacements.
- Tier 3: Devices with an SRP of $549.99 – $599.99 will pay a $150 deductible for replacements.
- Tier 4: Devices with an SRP of $600 or higher will pay a $200 deductible for replacements.