There are some factors you need to consider while choosing a moving company for transporting your things. One of the most important things is the estimate given by a moving company. It is imperative to know that there are many different types of estimates provided by moving companies. Here is a list of the three different kinds of moving estimates.
The non-binding estimate is the first moving estimate. In this estimate, the mover offers you an estimated cost after evaluating the goods that need to be transferred. A non-binding estimate means that the mover does not give you the exact cost of the move until they have weighed everything on a moving day. The price is adjusted once all the goods in the shipment have been weighted. The cost may increase or decrease depending on the weight of the consignment.
One of the biggest disadvantages of this type of estimate is that it leaves a consumer potentially vulnerable to a common moving scam where companies low-ball customers and intentionally offer low estimates but charge an extremely high price in the end. However, it is the most commonly used assessment in the industry as moving companies can provide this estimate without any charge due to its inherent flexibility. In fact, this estimate can be quickly given by the moving company over the phone. This estimate is ideal for people who are moving on short notice and need an easy estimate over the phone.
Another type of estimate is a binding estimate. As the name suggests, this estimate tells you exactly the amount of money you will be paying. In this kind of estimate, the moving company will closely assess the goods and give you a binding estimate for the move. This is set in concrete, and the amount does not change even if the actual shipping weight is higher than the assessed weight.
One of the biggest advantages of this type of estimate is that the moving company cannot increase the price at a later date. It also allows you to plan your moving budget and track various moving expenses. The biggest disadvantage of this estimate is that you will have to pay the binding estimate even if they weight of the shipment is less than the estimate.
The third type of his estimate is the binding not to exceed the estimate. As the name suggests, in this kind of estimate, there is an upper ceiling to the overall price and the total price will never exceed this upper limit. However, if the actual weight of the shipment is lower than the estimated weight, the final price will come down.
In simple terms, the price is adjusted in case the actual shipping weight is lower than the estimated weight. It is the best option for individuals as it offers great flexibility. This estimate provides peace of mind to the buyers as they are aware of the maximum price they may have to pay for the shipment.
Overall, these are the main types of moving estimates offered by moving companies. In addition to the estimates, you also need to check the reputation and ratings of the moving company. Some unscrupulous businesses tried to lure in new customers by offering them an extremely low non-binding estimate. Therefore, it is important that you get a binding or binding not to exceed estimate from different moving companies to make sure that you are not overpaying.