You have been planning and saving for your impending move for a while and done your moving company research. You have gone through the motions and looked at moving estimates, but are you sure about what moving estimates entail? There are different types of estimates which you need to know about, and what they mean for your move.
Non-Binding Moving Estimate
A non- binding moving estimate is the most popular of all estimates. With this type of estimate, you are likely to pay the least. This estimate is based on the moving company’s estimation of what it will cost you to move, based on the inventory and pre move survey. It is not a guaranteed amount, and it serves to help you anticipate what the move will cost you and you are able to budget around that figure.
As it is a projected cost, the eventual price may go two ways at the end of the day, slightly up or down. The main aspects of a non-binding estimate are the amount or number of packing materials used and the weight of your belongings. The weight is estimated by using the inventory created earlier and an often asked question is whether the estimation can be relied on as being accurate.
The accuracy of the estimation is usually 99% accurate because the moving companies are out to achieve client satisfaction and keep their good reputation intact. After everything has been packed into the truck, the truck’s weight is taken to get the real weight. If it is more than the estimate, you pay more, and vice versa. This non-binding estimate applies for both local and interstate moves. It is extremely rare to find a local move being anything but a non-binding estimate. The labor for a local move is charged hourly, plus the truck and materials used. If the move takes up less time and materials, the less you pay and vice versa.
A Binding Estimate
A binding estimate is in essence binding. It binds you in the sense that you must pay the price listed in the moving estimate, whether the final move weight exceeds the estimate or not. The upside of the binding estimate is that you always know the exact price that you are going to pay for transportation, and there will be no extra costs in the long run. This guarantee however comes with a price and you have to pay a bit more for the assurance. For binding estimates, the only binding part is the transport, and the estimate is done according the shipment’s weight. This means that you have to pay more for any extra requirement.
Not-To-Exceed Moving Estimate
The not to exceed moving estimate can be quoted for interstate moves. It is also referred to as a binding option estimate or a price guarantee estimate because you normally pay for what was estimated, or the actual price or whichever is the lesser of the two. This estimate is a pretty good way to budget because you will never pay more than what was estimated initially.
The estimate applies to the transportation aspect and any extra also needs to be paid for. The not to exceed estimate is normally give to individuals who require the full moving services of the moving company, i.e. the packing and moving. You may decide to pack for yourself and you will get an estimate for that particular service. If you change your mind and ask the moving company to pack for you, then you have to pay extra for the packing service.
You have to be very careful before you agree to any of the estimate types. Read the fine print and make sure you know exactly what you are getting into so as to avoid disappointments. Be keen, consider all facets of your move, chose wisely and your move will be hassle free.