Verizon, one of the top wireless network companies, introduced Thursday, an industry-first three-year price lock on all plans and a guaranteed free phone with trade-in on any myPlan.

These new commitments aim to provide long-term pricing stability and unmatched savings for both new and existing customers, Verizon said.

The offer, which Verizon hopes will be a new benchmark in the industry, provides a three-year price lock on all myPlan and myHome plans, making sure customers’ monthly plan costs for calling, data and texting remain unchanged, excluding taxes, fees and benefits, Verizon revealed. This applies automatically to all existing myPlan users, and every time a customer changes their myPlan, the three-year lock resets. No other carrier offers this level of pricing predictability, Verizon said.

Verizon also is making it easier to upgrade devices and is now offering a free phone on any myPlan with trade-in, regardless of the phone’s condition. Customers can choose from Apple, Google, or Samsung models and receive the same deals as new customers, the company said.

For home Internet users, Verizon is also eliminating extra costs for essential equipment. Every myHome customer will receive a home internet router at no additional cost, simplifying setup and reducing expenses.

Verizon Consumer CEO Sowmyanarayan Sampath said the company’s focus is on giving customers more control, value and simplicity when it comes to their plans.

“We’re proud to introduce this industry-leading guarantee—a three-year price lock and free phone on every myPlan, plus exclusive ways to save,” Sampath said in a statement. “This is what real value looks like.”

Kaylee Remington is a trending news and metro reporter for cleveland.com and The Plain Dealer. Read her work online.