Binding vs non-binding – which type of quote do you go for? Is there a third option? Movers.com explains it all!
Knowing which type of estimate to go for can make the difference between an affordable move and getting downright scammed - and yep, your best choice may be a type of estimate that's neither binding nor non-binding, says Movers.com.
Check out their complete guide on “The Difference Between Binding and Non-Binding Moving Estimates” - it's essential reading for your future move!
The report explains that the nature of the estimates is regulated by the Federal Motor Carrier Safety Administration (FMCSA). Binding estimates commit the company and homeowners to a set price established based on a pre-move assessment of the weight of the items to be moved, the location of the current and new home, and other factors. That means you'll have to pay the price quoted in the estimate, regardless of any potential differences.
An advantage of binding estimates is that you'll know exactly what the cost of the move is beforehand - however, if the move requires fewer resources than initially estimated, you'll get no discount once the job is completed, explains the report.
Non-binding estimates, by contrast, will only give an approximate price that may increase or decrease on moving day - which leaves you vulnerable to being scammed by movers who deliberately underestimate the cost of the move only to charge an unreasonably high price at the end.
Movers.com recommends asking for a binding not-to-exceed estimate - an option that guarantees the price will not exceed the initial estimate, but allows for potential discounts, if needed. You should get the estimate in writing, attached to the bill of lading.
It's important to do thorough research before receiving an estimate, to ensure that the quote received is reasonable - and prevent potential scam attempts.
“Familiarizing yourself with the ins and outs of the moving industry and moving terminology before your move will help the process of looking for a moving company go a lot smoother,” explains the report. “That way, when the company arrives at your home to assess your belongings and give you an estimate, you will know exactly what to expect.”
If you're looking for affordable, pre-screened movers for high-rise apartments, Movers.com has a handy directory that lets you choose from multiple providers - go to https://www.movers.com/moving-companies/ny-new-york/bronx/cheap-movers.html to check it out today!