What is a binding estimate
When moving, finances are one of the biggest concerns. How much your moving is going to cost, how to calculate the costs, what services to choose, etc. To know the costs in advance you should get a moving estimate from movers. But, you should know that there are different types of moving estimates and one of them is a binding estimate and the second one is a non-binding moving estimate.
What to know about a binding estimate?
Knowing the costs in advance will help you save money when moving. Simply said, a binding estimate is a price for the moving you will pay, even if there are some extra fees. The difference between binding and non-binding estimates is that when getting a non-binding estimate you may end up paying more (or less) than the estimated price. If you don’t like to gamble, then you should choose a binding.
When a moving company is preparing this type of estimate, there are some rules they must follow, such as:
- Description of shipment and services must be explained and it should contain all the details – a binding estimate must be in writing. Don’t forget to take a copy of this document as well as a bill of lading.
- When you will pay for the move? Payment is due at the time of delivery, not before that. If the company asks you to pay in advance, know that it is one of the red flags. They will calculate overall moving costs and you can prepare your budget.
- If you have additional belongings to move that are not stated in the estimate, the mover can refuse you service. You can move only the things that are on the estimated in the description.
- After the moving company agrees to move your belongings, they will confirm the binding estimate (in writing).
Prepare the budget for your upcoming relocation
If you want to hire packing services besides transportation services, that will cost you more. So, you will need to prepare a bigger budget. This is also a rule for storage services. They are not included in the price of your relocation. If you need a storage unit, then you need to ask additionally for it. The price of a storage unit will depend on the size and on location of the unit.
After exploring a binding estimate, now you can start planning your relocation and also, prepare a moving budget. Moving costs will depend on many different factors, but the main ones are the size and weight of your items and the distance between your home to your new home.