What are the types of moving estimates
There’s a lot of planning involved in relocation. From finding a moving company to packing and getting everything ready. And, with all of that, comes the cost of the relocation. Fortunately, many moving companies offer moving quotes. A way for you to know how much your relocation is going to cost. And there are many different types of moving estimates. Some give you an approximate amount. While others give you exactly how much you are going to pay. Here’s an explanation and pros and cons of those moving estimates.
What is a moving estimate?
In short, a moving estimate is a way for you to know how much your relocation is going to cost you. But, there are many different ways in which different types of moving estimates work. But, all of them give you either approximate or final amount that you will have to pay. Based on the number of belongings that you have. They are a great way to plan moving expenses. By knowing, even approximately, how much your move is going to cost, you can better prepare for it. Either by adjusting your budget. Or by decluttering and getting rid of some unwanted or unneeded items.
All the types of moving estimates start the same
There are different types of moving estimates. And they work in different ways. But, all of them start the same. Once you find the perfect moving company for you, you give them a call. Or write to them via their website. Now, there are two ways in which you can get an estimate. The first one is automated. You can fill out a form on their website and get an approximate cost of your relocation. Those can also work when you call a moving company and they give you an approximate amount based on your description of your cargo. Have in mind that this automated type is usually a non-binding moving estimate. More on those later.
After that is complete it’s time to get a more accurate quote for your relocation. Some moving companies skip the whole automated part. While others do this as an extra service. A moving agent will come to your home and take a look at your belongings. You will tell them what you plan on moving to. And based on their approximate weight they will give you a moving estimate. He or she will give you a much more accurate price for your relocation. Those estimates can either be binding, or non-binding. Depending on your agreement with them.
All types of moving estimates can be used for different types of relocations
Moving estimates are a great way to know the price of your relocation. And it’s a great way for a moving company to help you out and build trust with you. So, it doesn’t matter if you are moving locally or relocating cross-country. The same rules still apply. Some moving companies will ask you for different types of moving estimates based on your type of relocation. But, no matter how big or small your relocation is. You should still get a moving estimate.
Different types of moving estimates
Now that you are familiar with how moving quotation works, it’s time to talk about the different types of moving estimates. And there are three main types of moving estimates. We already mentioned them in the previous paragraph.
- Non-binding moving estimate
- Binding moving estimate
- Not-to-exceed moving estimate
Each type of moving estimate has its own set of rules. Both for you and for the moving company. So, make sure you read the relocation agreement. And ask any questions that you might have before you sign any documents.
Non-binding is the first of the three types of moving estimates
Out of all the types of moving estimates, non-binding is the most common. In this case, a moving agent will come to your home and inspect your cargo. And give you an estimated cost of your relocation. The main thing about this type of moving estimate is that it is not binding. That means that the moving company will not have to stick to that amount. Your actual relocation cost might be a lot higher or a lot lower. Which makes it not binding. And if you have any unusual, sensitive or antique items that can be a problem later.
Pros of non-binding moving estimate
The main benefit of a non-binding moving estimate is the fact that you have an approximation of your cost. They are usually free of charge and give you a clear picture of what everything will cost. That way you can better plan your moving budget.
Cons of non-binding moving estimate
The bad thing about this type of moving estimate is that the price is not set. Yes, you will get a clearer picture of the cost of your relocation. But, that can change on a moving day. So, you are not 100% sure that that is the exact amount that you are going to be paying.
The second and third types of moving estimates are binding
Binding moving estimates are usually only given for Intrastate moves (moves over 55 miles within the same state) and Interstate moves (moves out of your current state). They come into play when the charges for your move are based on weight and distance, not on time, as is the case with a local move. The price that you get is the exact amount of money that you will be paying. Nothing more and nothing less. You will sign an agreement that legally binds both you and your moving company to that price.
Another type of binding moving estimate is not-to-exceed moving estimate. That means that you have a guaranteed price cap. And that you will not pay anything above that price.
Pros of binding moving estimates
A great positive point about this type of estimate is that you know exactly how much you are going to be paying. Even if your cargo ends up weighing more than they originally thought.
Cons of binding moving estimates
The negative aspect of this type of moving estimate is that adding items after the fact can result in the change of the original agreement. You will have to report everything that you’ve added, so it can be entered into a change order. If you fail to do so you risk breaking the agreement. And paying penalties. Binding moving estimates are also usually more expensive. So they might work in your favor, but they might not.