If I already have my phone THAT I am under contract with, am I able to add a second phone with the prepaid option? Aka can I have two different types of plans for two different phones under the same account?
Verizon stopped doing contracts 2017. And what do you mean add a second phone under prepaid? It's either prepaid or postpaid. If you're already on postpaid, it would be a line by itself on prepaid.
What I mean is I currently have a phone that is post paid. Am I able to add a second line to my existing Verizon account but make it prepaid, or would all lines on my account need to be postpaid?
All lines would need to be postpaid or prepaid, if they are to be on the same account. You may opt to have that line as prepaid by itself, as well. It's entirely up to you.