A mover’s estimate can take three forms – binding and non-binding.
Binding not-to-exceed estimates are the most commonly chose by customers, because even if the total weight of goods exceeds the written estimate, the customer is only required to pay the amount on the written estimate. In the event that the total weight is actually less than was estimated, the customer will pay less than the estimated amount. Therefore, your total cost can only stay the same or get lower and there is no circumstance in which it can increase.
Binding estimates give you a guaranteed price that will not exceed the quoted amount. This means you agree on the exact price included in the estimate. However, watch out for movers who could overestimate the weight of your goods; therefore, locking you into a higher price. In the same respect, the mover runs the risk of the customer sneaking in additional items that were not included at the time of the estimate. Beware: If you try to include additional items on the day of delivery, the driver has the right to challenge the estimate if he thinks it is too low.
Binding estimates are good options for people who:
- Want to guarantee their budget and avoid unforeseen charges.
- Do not move often or are not familiar with the moving process.
Non-binding estimates mean your final price will be based on the actual amount of hours and materials used for the move, meaning the final bill can be higher or lower than the estimate. However, the mover cannot collect more than 10 percent over the original estimate, and they are required to give you at least 30 days to pay for any amount over the estimate. This may be more beneficial if you are:
- Not sure ahead of time the exact items you will be moving.
- Moving specialty items that may require special care or could take longer than expected.
Decide early on what type of estimate is best for you and stick with it. Changing your mind after an estimate has been signed or trying to back out on what you initially agreed on can delay your move or end up costing you a lot more than you planned.
Tylor Crestin is writing about the moving industry since 2006. The initial idea behind MovingSham.com was to expose the bad moving companies and make sure consumers do the right choice. This was provoked because of the awful moving experience Tylor had back then.
Now in 2018, MovingSham has become the moving industry blog it is today. Tylor is not as active as he used to be, but he is still publishing stories on hot topics in the moving industry.