After continuously dismal reaction to Verizon’s fiber-optic TV service, the provider has decided to give customers the option to cancel risk-free within 30 days of signing up.
That means users would not be subject to the outrageously high $360 early termination fee after they sign up for the Fios service.
Unlike most pay-TV providers, Verizon requires customers to sign a contract for 2 years of service, which allows them to offer a pretty low monthly fee but forces them into a TV service that many end up finding disappointing.
Even with the high cancellation fees, a large amount of new Fios subscribers end up returning their equipment and switching back to cable or satellite, a fact that companies like Time Warner Cable and Dish Network are only too happy to pounce on in commercials and promotional material.
Because the fiber optic system requires a more specific installation procedure, it costs Verizon over $1,000 for each home it equips. The company has eaten a lot of money from preparing various regions for Fios service and offering very lucrative new-customer bonuses – for a while new subscribers got a free HDTV.
In addition to the offer that customers can return all their Fios equipment within one month for a refund, Verizon is also