Unlimited data is on the way out at Verizon.
The company hopes users upgrading to the Verizon iPhone 5 will pick a Share Everything Data plan and a cheap upgrade over unlimited data.
Verizon leaves a loophole open to users who want to upgrade to the iPhone 5 and keep unlimited data, but it requires paying full price for the iPhone 5.
The iPhone 5 off contract pricing starts at $649 and goes up to $849, or $450 more than an iPhone 5 on a two-year contract.
For users who don’t use a significant amount of data Verizon’s tax on unlimited data isn’t worth paying, especially for users that use a lot of voice and texting or pay for a mobile hotspot feature.
Users that can’t imagine life without unlimited data, and make use of jailbreaks or other methods to use tethering without paying Verizon’s monthly fees will make out in the long run, but for most users, the $450 premium to buy an off contract iPhone isn’t worth it.
Keep in mind this assumes a single line on Verizon, adding a 2nd line changes the numbers, but it’s easy to adjust the prices.
After running the numbers, unlimited voice, text and data on the old Verizon plans is $119.98 per month. Splitting the $450 price premium of the iPhone 5 off contract out over a two-year contract brings the average monthly cost to $138 a month.
For the same price, a user can get unlimited talk and text with a 10GB data plan on the new Share Everything plan. Users that consistently use less than 10GB of data a month should consider picking a cheap iPhone 5 upgrade and switching to Share Everything.
The benefits are best for users that only use around 4GB of data a month, and don’t plan to use significant amounts in the future. At this price, users are paying $110 a month, saving $30 each month or $720 over a 2 year contract.
To check data usage history, log in to your Verizon account and click View Usage, or start the switch to Share Everything and scroll down to the bottom of the page to click on View Usage Details, which pops up last months data usage.