Does this Verizon "modem" have a router inside of it? If it does then you are going to run into the 'double NAT' error territory, let me explain.
There are two different versions of IPs the Internet uses (in IPv4). There are
Private IPs:
10.0.0.0 – 10.255.255.255
172.16.0.0 – 172.31.255.255
192.168.0.0 – 192.168.255.255
Private IPs can NOT be "routed" across the Internet. This is done to save IPs (IPv4) for Public IPs across the Internet.
So your ISP sells you ONE Public IP. Then a "router" does what is called NAT (Network Address Translation). Then most home routers "translates" all the internet equipment (each network equipment (computers, Network Attached hard drives or printers, etc.)) using
DHCP.
Now ALL home "routers" do NAT. That means each router's DHCP gives out a subnet (i.e. 192.168.0.1,). The "subnet mask (i.e. 255.255.255.0) allow you (as a user of the router) to give your network a range of IPs (192.168.0.1 -254) using the DHCP service (automatic IP assigning).
Now sharing on a network and not sharing across the Internet all device must be in the same "subnet". So when you put another "router" behind another router (in home networks) already doing NAT (Network Address Translation). That is why in Apple routers they have "Bridged Mode" to turn off NAT because it is behind another router doing NAT.
Now you know why Apple routers give "double NAT" error. So leave that Apple time Capsule in "Bridged mode" and this will leave the Time Capsule not to do NAT and let the main "gateway" router (router closest to the modem) do the NAT. This will not affect the Time Capsule's function and will prevent future network errors that will happen if you run another NAT behind another router. Collisions will happen all the time and really slow your network down.
Now to prove this to you open System Preferences->Network and remember the router IP of your non-Apple router. The put that IP into the Address Bar of your favorite browser and it will take you to that router (here are all
router default username/passwords). Once in that router find the ISP IP that is assigned to that router. Then put that IP into you browser window and it will take you to your ISP modem's wiki setup page. Be careful because you can really mess up the settings!!!