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What is the difference between a binding and a non-binding estimate?

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Asked by Richard

November 21, 2012 under Moving Companies

I want to get some estimates from moving companies so I can compare prices, but I’m confused by the terminology they’re using to describe the different types of estimates. What are binding estimates and non-binding estimates and how do they differ?


Answered by Robert Moreschi

November 28, 2012

The difference between a binding estimate and a non-binding estimate is rather easy to explain, and even better, it can be the difference that ends up saving you hundreds of dollars on your final moving bill!

Binding Estimate – A binding estimate is exactly that – binding. What that means is that the moving company will provide you with an estimate of what they think the move will cost based on a number of different factors including, but not limited to, the total weight of the shipment, the number of rooms to be moved, the distance of the move, or whether or not there are stairs involved in the move. That estimate will not change, no matter what extenuating circumstances change before the move is completed.

This is good for the customer because even if the move ends up being bigger than was initially planned, they will not be charged for it at the end. On the flip side of that coin however, is the fact that if it ends up being smaller, the price will still not change.

Non-binding Estimate – This estimate provides more room for the moving company to adjust the final price. This is because a non-binding estimate only serves as an approximation of what your move may cost. The final cost of the move can, and often does, change and you will likely be asked to pay a different price from the one you were originally quoted, even if it is higher than the initial quote.

Binding Not-To-Exceed – This is the best option for you. With this estimate your cost will not go up even if your shipment weighs more than the estimated weight. However, the good news is that your cost will go down if your shipment weighs less than the estimated weight. Since the price is adjusted only if your shipment weight lowers, this is the most ideal option to go ahead with.

Make sure you have your estimate in writing before the move commences. You should get a copy of the same from your mover and must be attached to your bill of lading.

Are you looking for an estimate for your upcoming move? Here at Movers.com, we'll give you competitive moving quotes anywhere in the United States from the most reputed and reliable moving companies, so you can started on the road to a successful and stress-free moving experience.

Then, once you've moved, don't hesitate to come back and tell us all about it by filling out our easy-to-use moving review form and let your voice be heard.

Hope this helps.

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