The benefits of a binding moving estimate

There’s no way to prepare for every single thing that can happen during relocation. But there are certain things you can anticipate and prepare for. For example, you can estimate in advance how much packing material you’re going to need and prepare for that by buying enough moving boxes before you start putting things away. Similarly, you should be ready to face some completely new concepts and terms specific to the moving industry. If you don’t learn about these in advance, you may find yourself wondering whether you even speak the same language as your movers! This is why today we are talking about moving estimates. More specifically, we would like to teach you about the benefits of a binding moving estimate so that, when the time comes, you’ll know if what your movers are offering is what you’re looking for!

Different types of moving estimates

Sometimes industry-specific terms are obscure and difficult to understand. Luckily, this isn’t one of those times. A moving estimate is pretty much exactly what it says on the tin: it’s how much your movers estimate the move is going to cost you. But not all movers offer the same type of moving estimate.

Calculator, pen and paper.
There are several different types of moving estimates.

There are three common types of estimates that you can expect to encounter when moving to Florida:

  1. non-binding estimates: essentially just a projection of what you will pay for the relocation based on your inventory and requested services but the end price may go up or down depending on a variety of factors
  2. binding estimates: the exact amount that you will pay for your relocation provided there are no changes to your inventory or movers’ services
  3. binding not-to-exceed estimates: the absolute maximum amount you can expect to pay for the current inventory and chosen services though the price may turn out lower in the end

Each of these different types of estimates has its upsides and downsides. Therefore, each can be right for you depending on what exactly you are looking for.

What are the benefits of a binding moving estimate?

Most people prefer binding to non-binding estimates for a number of reasons. These are largely connected to the security that a binding estimate provides. It is important to note, however, that an estimate is only binding after you’ve signed it. You can get a free estimate from most moving companies and use that number to compare approximate fees. But it’s the number on the contract that really matters. So read carefully before signing anything!

Benefits of a binding moving estimate: certain cost no matter what

One of the main benefits of a binding moving estimate is that you always know what the price is going to be. Once you’ve contacted your movers and scheduled an in-person estimate, you’re pretty much all set on the cost. Whatever number the movers quote you is what you will pay. This means you can know the exact cost of your movers’ services as early as months in advance! And the best part is that this cost will not change. That’s one major thing you no longer have to worry about.

Calculator and calculations.
With a binding estimate, you’ll know exactly what to expect.

Of course, now is a good time to point out that even a binding estimate can change under certain circumstances. Because the estimate is based on weight calculated from your inventory, changes to said inventory will change the estimate. So don’t try to slip anything extra by your movers! They have the right to withhold service or charge you more to release the items back into your possession.

And it bears repeating that you should always check the contract lists the same price you were quoted in the estimate before signing it. Legitimate movers won’t try to trick you. But you should always be on the lookout for moving scams!

Benefits of a binding moving estimate: easy to budget around

A binding moving estimate means you’ll know exactly how much you have to set aside for the movers. Once you know that, your budget should be much easier to figure out. You’ll be able to use the rest of the money you planned for the relocation without worrying that you won’t have enough for the movers. And if you underestimated the moving costs, you’ll know just how short on cash you really are. Either way, a set price will help you plan your finances better and easier!

Benefits of a binding moving estimate: no additional fees at a later time

One of the biggest benefits of a binding moving estimate is that you don’t have to worry about being charged extra at a later time. The government body that regulates the moving industry, the Federal Motor Carrier Safety Administration, has very strict rules on when and why movers can charge you more than stated in a binding estimate you agree to. So if you hold up your part of the deal, you really don’t have to worry about additional fees!

Downsides of a binding moving estimate

It’s hard to talk about the benefits of a binding moving estimate without mentioning its flaws. The very thing that makes a binding estimate so appealing can actually turn against you. The flip side of not paying more is that you also won’t pay any less even if the weight of your stuff is less than estimated!

Person signing a contract.
Sometimes a binding estimate isn’t the right choice.

A brief overview of the pros and cons of the alternatives

There are two more types of moving estimates that movers Sunny Isles Beach offer. Let’s take a quick look at those as well!

Non-binding moving estimate

The best thing about a non-binding moving estimate is that it is very flexible and will give you the most accurate cost. You will pay pretty much exactly for the weight and services of the move as it actually happens, no more and no less. On the other hand, you won’t know for sure what you’re paying in advance.

Binding not-to-exceed moving estimate

A binding not-to-exceed estimate combines the best of both worlds. You’ll know exactly how high the price can go. But in case your shipment ends up weighing less than anticipated, you will also pay less. This type of binding estimate has become very popular in recent years.