Moving estimates are perfect for those who have no plans to perform a move on their own. A moving company of your choice will send an estimator to your place of business or home to perform a walk-through. When the walk-through is complete, the estimator will either give you a price quote right on the spot, or will send it to you via mail or email in one to three days after they’ve visited your location. There are three main types of moving estimates:
· Binding estimates
· Nonbinding estimates
· Binding not-to-exceed estimates
Let’s find out what each one means and which one of these estimates will be right for you and your move.
Binding Estimates
Binding estimates give you a more accurate amount of what you’ll pay. Once the estimator has completed the walk-through, they’ll complete the quote and give you your binding estimate. The estimate is binding and the price of your move will not go up no matter if the actual weight and size of the load turns out to be more than originally estimated. You can end up paying more on a binding estimate if you purchase additional items or take items that were not included on the original estimate. However, if the weight and size of the load is lighter and smaller than the original estimate, the price will not go down. You are still obligated to pay the agreed-upon price.
Non-Binding Estimates
A non-binding estimate is just that, non-binding, which means that this is just a rough estimate that your estimator will quote you. Though your moving estimator will give you the best estimate possible, knowing the actual price of your move won’t be known until the day of your move. After the truck is loaded and secure, the load will weighed and your actual price will be given to you. The advantage to having a non-binding estimate is that if the load weighs less than the estimate given by your estimator at your walk-through, the price of your move will decrease.
Binding Not-To-Exceed Estimates
Binding not-to-exceed estimates are commonly used more than the other two estimates and for good reason. Once your moving estimator finishes the walk-through of your home or business, they will give you a price estimate. The price quoted is the price you’ll pay even if you’re the load weight is higher than the estimated price. The advantage to a Binding not-to-exceed estimate is if the weight of the load is smaller than originally quoted, the price will be adjusted to meet the new weight giving you a new lower price. Ask your moving company if they offer bind not-to-exceed estimates. These estimates are usually used for long distance moves rather than local moves due to economics.
Now that you know about the three estimates and what they mean, you can ask your potential moving company which estimates they provide. Not all moving companies offer all three estimates. If your chosen company doesn’t offer the estimate that you’re looking for, move on and find another moving company and ask them the same thing. Moving companies try to stay competitive so finding one that offers all three estimates or the estimate that you’re looking for should not be hard to find.