Binding moving estimate – the pros and cons

Unless you are a moving expert, you might not be familiar with the moving terminology. Different moving estimates means nothing if you do not know the proper definition. When you are ready to relocate, you will receive a lot of papyrology that you have to sign. It is always a good thing to do your research before you sign anything. For this reason, here is all you need to know about a binding moving estimate.

Ready to move

When you decide to move, there are many things to take care of. Finding a good moving company is one of them. If you are moving to Hawaii, then you should check out Hawaii relocation services. After you do the background check on each of them by reading through reviews and comments, you should hire one for your relocation. If you want to avoid frauds, as everyone wishes to, then be careful what you sign.

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Binding estimate explained

Before the pros and cons of a binding moving estimate, you should have a clear picture of its meaning. A binding estimate means the price remains the same. When movers first come to your home to estimate your items, they will give you the amount you have to pay. If you decide you want a binding estimate, then this price will always remain the same even if some factors change. These factors include the overall weight of your items, date of delivery and so on. In addition to this, you can always ask for a non-binding estimate if this one does not work for you. If you decide to hire top Hawaii movers, they will gladly help you to choose the appropriate one for your situation.

Binding Not-To-Exceed estimate

There is another option for you as well. This one is quite popular among customers and for a good reason. Binding not-to-exceed estimate works on the same premise as a binding moving estimate, but with a little twist to it. You will still receive the fixed price to pay for your relocation. If the weight of your belongings exceeds the original one, you will still pay the same. However, if the weight of your items is smaller, then you will pay less as well. The new price is set according to your actual weight on the day of delivery. In this case, you cannot pay more than estimated but you can pay less and save some money along the way.

Rules and regulations

FMCSA made several rules and regulations about binding moving estimate that every moving company has to follow. You should also be aware of them in order to know your rights and to protect your interests.

  • A moving company has to give you a written assessment before the move so you can go over it to see if everything is alright.
  • You should also know the exact plan of your relocation as well as all the moving services included in that plan. This means a moving company cannot charge you any additional fees without your knowledge.
  • Movers should specify the exact amount. In addition to this, they should attach the binding moving estimate to the bill of lading.
  • If you add more items to your list, movers have the right to refuse the service or to revise the binding estimate. This will result in a higher price.
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Be careful when you sign documents

Pros and cons

As with everything in life, there are pros and cons of binding moving estimate as well. It is always wise to know both sides of the same coins in order to see whether this works for your situation.

Pros of binding moving estimate

Probably you guessed it so far what the biggest advantage of binding moving estimate is. It is its fixed price. You will know beforehand the exact amount you have to pay so you can prepare accordingly. This means you can start saving money while moving in order to pay your fees. In addition to this, some people have a small budget. If you already know the price of your relocation, and you see that it fits your budget, then you can hire that company. This is the best way to avoid stressing about money and whether you will have enough to cover every single moving fee. If you opt for a binding estimate, you will be spared of an unpleasant surprise after delivery when you receive your bill since the price remains the same.

Cons of binding moving estimate

Although the fixed price acts as a safe harbor, it is more like a double-edged sword. If your shipments end up smaller than originally estimated, you still have to pay the full price. Unfortunately, you will not receive any discount as well. This means you will pay more than you actually have to, but this is the price if you want to be safe.

Non-Binding estimate

There is also a non-binding estimate that does not have the set price, which means it is likely to change. There are some moving companies that offer only this type of estimate. You should be extremely careful then since in most cases, they will try to scam you. For this reason, you should be able to understand a moving contract so you will avoid any unpleasant situations. Choose the true professionals who will help you rather than just trying to take your money.

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What to choose then?

You know the best what is good for you. If you are on a tight budget, then a binding moving estimate is the most logical option for you. However, if you choose a reliable moving company, then they will be able to help you with this decision. You should be as detailed as possible about your situation so the movers can assist you to find the best solution. This is the reason why you should find a moving company that you can trust.