Understanding The Three Common Types Of Moving Estimates

One of the first things you need to do when planning a move is to get quotes for your move. When doing this, don't forget that there are different types of moving quotes; here are three of the most common:

Binding Estimate

In this case, the movers approximate the weight of your items and quote a fee based on the weight approximation. As long as you don't add any more items to the shipment, you only pay the estimate whether it turns out to be heavier or lighter than the initial estimate. The binding estimate only changes if you add more items to the shipment or request additional services.

Here are some of the advantages of a binding estimate:

  • It protects you in case your shipment is underestimated
  • You get to know exactly what you will be paying

Unfortunately, you risk overpaying for your shipment in a binding estimate because you will have to pay the agreed amount even if your shipment turns out to be lighter than the estimated one.

Non-Binding Estimate

The non-binding estimate is an approximation in the literal meaning of the word. In this case, the movers give you an approximation of what you will pay to have them move your goods, but the final price may be more or less than the initial estimate. This means the movers will actually weigh your shipment on the moving day and adjust your price as necessary.

The best thing about a non-binding estimate is that you can't overpay for your shipment because it will be weighed on the moving day. Unfortunately, it involves a certain level of uncertainty because you can't know your actual quote in advance. It's best suited to those who want to ship light goods because their shipments' weight won't change much even after weighing.

Not-To-Exceed Estimate

This type of moving estimate is a sort of hybrid between the binding and non-binding estimate. In this case, the moving company gives you an estimated quote, but it is not binding. On the moving day, the moving company weighs your shipment and gives you a new price; the new price is then compared to the estimated price, and you pay the lower of the two.

As you can see, the best thing about a not-to-exceed estimate is that you know (in advance) the maximum price you will pay for your shipment. Many people consider this as the best form of moving estimate.

The next time you request a moving quote, don't forget to get the moving company, like Wheaton World Wide Moving, to clarify which type of quote they use.