Starting Thursday, Verizon is implementing a three-year price lock on its MyPlan mobile and HomePlan home internet accounts. The price lock applies automatically to all customers; it's not a program requiring a separate enrollment or contract.

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.