Understanding Moving Estimates
Demystifying 3 types of moving estimates
If you are not familiar with the terminology of the moving industry, you may not understand the meaning of the terms “non-binding estimate”, “binding estimate”, and “binding not-to-exceed estimate”. While they may seem trivial, these terms can have a significant impact on your moving experience. It’s important not to sign a contract without understanding the pros and cons of each type.
It’s easy to understand that due to the many challenges associated with moving, people don’t have the time or energy to decipher the complexity of a cost estimate. Luckily, we are here to help you understand the differences between non-binding estimates, binding estimates, and binding non-delay agreements. This will allow you to make an informed decision before you sign your next moving contract.
Non-binding moving estimate
The movers will provide you with an estimate based on the approximate weight of your belongings. This estimate, while not “binding,” is flexible and can be changed based on actual weight.
In general, it is not recommended to choose a moving company that only offers this type of estimate. Accepting a non-binding offer may result in unexpected additional costs. You will have to pay the initial estimate and an additional 10% upon delivery.
Be cautious when you get non-binding moving quotes. Some unscrupulous movers will lure you in with a low price only to ask for a larger payment later. It’s important to do thorough research on movers and be aware of any red flags.
Binding moving estimates explained
Binding moving estimates will guarantee a price that is based on your assumed weight. If the movers require it, the price will be paid in full, and no adjustments are allowed, even if it turns out that your items weigh less than expected.
A binding estimate is not always the best choice, but it has its benefits. This eliminates any worries about last-minute charges (unless you were overcharged at the beginning). Comparing quotes is a good way to ensure that you are getting a fair deal. You will also be relieved of the additional cost if you exceed the weight.
Do not use this estimate to add more items during the moving day. Any changes to your shipment must be made in accordance with the original estimate.
Binding not-to-exceed estimate
The not-to-exceed weight binding is the most popular type of estimate for long-distance shipments. It states that you will not be charged extra if the weight of your shipment exceeds the weight specified in the estimate. If the weight is less, you will be charged only for the actual weight. A binding estimate that cannot be exceeded may result in a lower cost than originally agreed upon.
Uncover the right quote for your move
The moving contract must clearly state what type of estimate is being offered. A long-distance comprehensive contract will include details such as the mover’s address, tariff costs, miles travelled and estimated weights. It may also contain information on discounts, packing and unpacking fees, storage and transportation charges, fuel surcharges and insurance.
Remember to add in expenses that are not included in the estimate of your moving company, like boxes and supplies. Consider how the time of week, month and year may affect your moving costs. Costs are typically higher during peak seasons and on holidays. You can reduce expenses by moving on Monday in a slower month.
Do not trust your possessions to anyone, but to licensed and insured moving professionals who are reputable. We wish you a happy and successful relocation!
