What is a binding estimate?

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When it comes to hiring the professional movers, moving estimate is a holy grail. Moving estimate or moving quote is the offer company provides you. It consists of their services that you will use, plan of your move and an estimated price. And that estimate can be a binding estimate or non-binding one. It is very important to understand this two sorts of estimates as well as the difference between them. As a result, you will be able to choose the right offer for yourself. Let’s give some thought to this matter.

The difference between a non-binding and binding estimate

Most of moving companies offer an opportunity to fill a form and get an estimate on their website. This is a great way to get familiar with company services and prices. Usually, the offer you get this way is a non-binding estimate. Basically, a non-binding estimate is a regular moving estimate. The estimated price this quote is approximately calculated and variable. And this is the biggest difference between a non-binding and binding estimate. The binding estimate requires a detailed information of your belongings, the requested services, distance, dates and time. Therefore, it provides you with a fixed price ahead.

 What is a binding estimate? A woman shaking hands with a man, standing beside another woman.
Choose a moving company you can trust.

Binding estimate 101

Getting the binding estimates guarantees you the price you pay. By definition, it is an estimate that is fixed on a specific figure. Most importantly, it remains fixed, regardless of what changes occur during the movement. Even if your shipment weights more or less of the estimated amount. Or if the time, service and any other factor changes in comparison to the estimated quote, price remains the same. Clearly, this can be both advantage and disadvantage. Long distance movers in Miami offer this service along with all the information you might need. This is a good solution for people who like to know the things ahead or have a very limited budget. It surely gives you a peace of mind with no surprises whatsoever.

Binding Not-To-Exceed estimate

This is the most favorable type of estimate for consumers. Even if your actual weight is more than the original written estimate, you still pay for only the agreed amount. But this is the same as for a regular binding estimate, you must be thinking. Wait for it, it gets better. If your actual weight is less than the estimate, you still pay less than the amount of the estimate. According to your actual weight, the agreed price is per pound. Hence, a binding-not-to-exceed estimate can only get lower, not higher. This is what we highly recommend you to ask for.

Little handbook for a binding estimate

There are several rules and regulations by FMCSA about binding estimates you should be aware of. Those rules determine how professional moving companies should perform them. They exist to protect the client during the evaluation. Therefore, here they are.

 What is a binding estimate? A woman typing something on a laptop and drinking from the cup.
Make sure you know all the conditions before you sign a contract.
  • A company needs to provide you with a written assessment. Also, they need to provide it prior to moving. This way you will have time to review it and discuss any possible differences in the evaluation.
  • Movers should present the exact plan of your shipment, as well as all the services they provide within. Hence, the company cannot ask for additional fees, as the move is progressing without the client’s knowledge. You will only be required to pay the binding estimate amount at the time of delivery. And any additional services that arise during the move will be paid separately after the move.
  • The moving company should specify in the assessment that the estimate is binding for the client and the mover. Also, they should attach a copy of the binding estimate to the bill of lading. In addition, movers should indicate that the assessment is for the listed services and only those services.
  • When the moving process starts, if the company notices any additional items in your shipment that have not been included in the initial estimatethe movers have the right to refuse service. Also, they have the right to create a revised binding estimate with new goods added to your shipment. And that leads to a higher price charge.

Pros and cons

As you could conclude already, there are pros and cons for a binding estimate. And they are pretty obvious. Of course, the advantage is that you will have an exact price ahead. Accordingly, you will be able to calculate your moving costs and make a budget plan. And it will not change during the move, regardless of the weight of your cargo. Therefore, there is no chance for you to be surprised after delivery with an account that is much higher than you expected. However, the opposite scenario is the negative side of a binding estimate. If by any chance you end up with a shipment that is smaller than estimated, well that could be a bummer. This means there will be no discount on your total account, on the contrary. Interestingly, avoiding the risk of surprises brings you a risk of overpaying. But, that is life.

Money, notebook, pen and a little wooden house figure.
The biggest advantage of a binding estimate is a fixed price.

How does it work?

Generally, this is a pretty straightforward and simple deal. When you hire a Miami moving and storage professionals, someone will come and make a list of all the items you plan on moving. They will include everything, from your furniture to clothes and dishes. After that, a company will offer you to sign a contract. That estimate refers to all of the items listed. Nothing more and nothing less than that. Also, if you choose to hire them, they will present a detailed plan for your move.

What should you choose?

Of course, this is a decision you need to make by yourself. And it is similar to picking the reliable movers. You need to do a solid research and to include all factors. The more details you provide to the company, the more accurate will the estimate be. Most importantly, choose a company you can trust. Be generous with information and don’t hesitate to ask questions. True professionals will assist you every step of the way.

 

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