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The recently released guide explores the different types of quotes offered by moving companies when estimating the total cost of service: non-binding, binding and binding not-to-exceed. With its latest piece, Movers.com helps movers understand the legalities of each type of quote, empowering them to make more informed financial decisions.
For more details, please visit https://www.movers.com/moving-guides/the-difference-between-binding-and-non-binding-moving-estimates.html
The guide begins by exploring the advantages and disadvantages of a binding estimate. This is a formal agreement, between the moving company and client, that states the total cost of service will be exactly as written, regardless of whether a client’s total inventory weighs more or less than predicted.
“The advantage of binding estimates is that your price is outlined well before the move and will not change,” explains Movers.com. “However, if you do end up with a shipment that is less than what the movers estimated, there won't be a discount coming off of your total moving bill at the end.”
Movers.com highlights the rules and regulations, set by the Federal Motor Carrier Safety Administration), when undertaking a binding estimate. For example, binding estimates must be provided in writing before the move, with any additional services billed separately.
Unlike binding estimates which guarantee a fixed price, non-binding estimates are preliminary cost projections that can go up or down based on final inventory weight on moving day. The guide explains how the flexibility of a non-bending estimate is ideal for those with a light inventory but can open individuals up to moving scams and unexpected price hikes.
Movers.com points to binding not-to-exceed estimates as the best option, providing the benefit of both binding and non-binding quotes. This type of estimate ensures that the total cost will not exceed the estimated amount, but can be reduced based on the final total weight of the shipment. “This kind of estimate allows for more flexibility when trying to budget for your move and allows you to have a much clearer picture of how much your total moving bill will cost,” says the guide.
Movers.com provides a list of key questions to ask potential companies before proceeding with a move and recommends that individuals allow companies to do an in-home survey of their moving inventory to ensure an accurate estimate.
Interested parties can learn more by visiting https://www.movers.com/moving-companies/md-maryland/rockville/cheap-movers.html
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