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When you are making a move, it is important that you understand a few terms for your move so that no rogue movers can take advantage of you. This blog explains the three kinds of estimates that the moving company may send you.
It is imperative to ask for quotes from 4-5 different global moving companies. They will send you estimates and inform you that they have sent you a non-binding estimate or a binding estimate or simply a binding-not-to-exceed estimate. You are not a pro and you will keep wondering about what does it mean? To help you out on this front, the three estimates are explained so that you can understand the estimates better and make informed decisions.
A binding estimate is when the cost is determined considering the approximate weight of the total belongings. Once you accept a binding estimate, you have to pay the agreed price and the mover cannot raise the price if your stuff weighs higher than estimated weight. However, if the weight of your stuff is less than the agreed weight, then also you need to pay the agreed price and no less than that.
In case, you want to add up some extra items, you need to talk it out with your mover to revise the original quote. You can’t just load extra stuff on the truck.
In a non-binding estimate, the quote is solely based on the estimated weight of the belongings. The estimate is not final as the cost may change as per the actual weight. However, you should not agree to a non-binding estimate. The reason is that it can be a scam and rogue movers can fool you. They give you an estimate for lower weight and when the actual weight of your things exceeds the estimate, you need to pay an extra 10% at the time of delivery. It is better to ask the moving company to give you another kind of estimate. And if they provide only a non-binding estimate, you are advised not to hire them.
This is also called a “guaranteed-not-to-exceed” estimate. This is the most popular estimate, especially for long-distance moves. This estimate means that if the weight of your stuff exceeds the weight that was originally quoted, then you only have to pay the agreed price and not a higher one. In case, your shipment weighs less than the estimated weight, you only have to pay for the actual weight of your shipment. So, this is a win-win.
Be it an intercity, interstate, or international move, you are not supposed to pay more than the original cost. If you don’t understand the difference between these estimates, you may end up hiring a global moving company that is actually charging you more in the name of other services. When you receive an estimate, the moving company is supposed to inform you of the kind of estimate they have sent. Also, the moving estimate is not the only cost that you need to bear. There can be other costs associated to it. So, hire a global moving company that is transparent in its quote and working as well.
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