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Types of Moving Estimates: Binding, Nonbinding, and Not-to-Exceed
- What is a binding estimate?
A binding estimate is a fixed price provided by the moving company based on the inventory and
services discussed during the estimate process. With a binding estimate, the price will not
change, even if the actual weight or volume of your belongings differs from the initial estimate.
This ensures that you know exactly what you’ll pay at the end of the move. - What is a nonbinding estimate?
A nonbinding estimate is an estimate of the cost of your move based on the estimated weight or
volume of your items and the services requested. However, the final price may change depending
on the actual weight or volume of your shipment. If your actual load is larger or requires more
services than originally estimated, you may end up paying more than the nonbinding estimate. - What is a not-to-exceed estimate?
A not-to-exceed estimate (also called a “guaranteed not-to-exceed” or “binding not-to-exceed”
estimate) means that the price quoted is the maximum you will pay. If the actual weight or volume
of your shipment is less than estimated, you’ll pay less, but if it’s more, you will not pay more than
the original quote. This type of estimate provides flexibility and protection from unexpected costs. - How does a binding estimate benefit me?
A binding estimate gives you certainty about the cost of your move. It locks in the price based on
the original inventory, so even if there are slight changes in the size or weight of your load, you
won’t face any unexpected charges. This is ideal for customers who want a guaranteed cost. - What are the risks of a nonbinding estimate?
With a nonbinding estimate, the final cost may be higher than the initial quote if your shipment
turns out to be larger or more complex than originally discussed. If the weight or volume of your
items exceeds the estimate, you could end up paying more, so it’s important to be as accurate as
possible when describing your move. - Why might I choose a not-to-exceed estimate?
A not-to-exceed estimate offers both protection and potential savings. If the actual weight or
volume of your items is lower than estimated, you’ll pay less, but you’re also protected from
paying more if the load is heavier than expected. It’s a good option if you want price flexibility with
the peace of mind that you won’t pay over the quoted amount. - Can I still add items or services with a binding estimate?
Yes, you can add items or services after receiving a binding estimate, but the price may need to be
adjusted. If you request additional services or add items not included in the original inventory, the
moving company will provide a new binding estimate based on the changes. - How is a not-to-exceed estimate calculated?
A not-to-exceed estimate is calculated based on the weight or volume of your belongings and the
services you need. The estimate includes a maximum price, which won’t increase even if your
items exceed the estimated weight. If your actual load weighs less, the price will decrease
accordingly. - What happens if the final cost of my move is less than the binding estimate?
With a binding estimate, you are required to pay the agreed-upon price, even if the actual cost of
your move is less than the estimate. The price is locked in based on the original agreement,
providing cost certainty.
10.How can I ensure accuracy for a nonbinding estimate?
To ensure accuracy for a nonbinding estimate, provide a detailed and honest inventory of your
belongings, including any large, heavy, or specialty items. Be transparent about the services you
need, such as packing or storage, and inform the moving company of any potential challenges like
stairs or parking issues.
11.Can a not-to-exceed estimate save me money?
Yes, a not-to-exceed estimate can save you money if your actual load ends up being smaller than
anticipated. In this case, you’ll pay less than the original estimate, but you’re still protected from
paying more if the load is heavier than expected.
12.What type of estimate is best for my move?
The best type of estimate depends on your priorities. If you want cost certainty, a binding estimate
is ideal. If you want protection from overages but the potential to save if your move is lighter than
expected, a not-to-exceed estimate is the best choice. If you prefer flexibility and don’t mind
potential cost changes, a nonbinding estimate may work for you.