Sprint Total Equipment Protection program to move to tiered system later this month, leak showsAlex Wagner - Editorial Director of News and Content
Take note, Sprint customers: according to a newly-leaked document from the Now Network, Sprint will soon be making some changes to its Total Equipment Protection (TEP) and Equipment Replacement Program (ERP) systems. The switch is said to be scheduled for June 17, and how much you pay will depend on your device's suggested retail price (SRP). There will reportedly be two tiers of monthly reoccurring charges (MRC) for TEP and ERP: new devices with a suggested retail price under $549 will have an $8 TEP charge or $5 ERP charge, while new devices with an SRP of more than $549.99 (and customers that buy the Galaxy Nexus or EVO 4G LTE before June 17) will have an $11 TEP or $9 ERP charge. There's also a four-tier deductible system for the TEP and ERP programs based on your device's SRP:
- Tier 1: Device SRP of $324.99 or less - $50 deductible for replacement devices
- Tier 2: Device SRP of $325 - $549.98 - $100 deductible for replacement devices
- Tier 3: Device SRP of $549.99 - $599.99 - $150 deductible for replacement devices
- Tier 4: Device SRP of $600 or more - $200 deductible for replacement devices
That's an awful lot of numbers and acronyms, to be sure, but figuring out how much you'll need to pay shouldn't be too difficult once you determine your phone's suggested retail price. And as TechnoBuffalo notes, you iPhone owners needn't worried about things like TEP and ERP, as AppleCare+ is the only insurance option for the iPhone 4 and 4S that's offered by Sprint. We've yet to hear anything from Sprint on these possible TEP and ERP changes, but if this leak holds true, all will be revealed later this month.