Different Types of Moving Estimates: What You Need to Know

Moving companies have various ways of providing their customers with quotes of how much they estimate the total cost of the move will be when all is said and done.

Estimates can be binding, binding not-to-exceed or non-binding.

Often, these estimates will be given by the movers when they come to your home prior to the move to do an in-home assessment. Once at your home, they will estimate the total weight of your shipment and factor in the other services that you will need based on your requirements to guesstimate the total moving cost. 

Binding estimates remain fixed during the course of the move

For example, movers came to your house to give you an estimate. They assessed your three bedrooms’ worth of items and produced an estimated weight that the shipment would be. From that estimated weight, they will come up with a total price for you to pay.

Because the quoted price is binding, you will pay that amount no matter what your amount quotes. However, if your shipment ends up weighing less than estimated, you will still have to pay that original figure as well.

Rules of binding estimates

The FMCSA (Federal Motor Carrier Safety Administration) has several rules and regulations regarding binding estimates and how they are carried out by professional moving companies.

1. The mover cannot tack on additional charges as the move progresses without informing the customer. The customer will only be required to pay the amount of the binding estimate at the time of delivery, and any additional services incurred during the move will be billed separately after the move.
2. The moving company must provide the estimate to the customer in writing. A copy of the estimate must be made available to the customer prior to the move, so the customer has time to review it and discuss any possible discrepancies or inaccuracies in the estimate.
3. The moving company must state, in the estimate, that the estimate is binding. The mover must attach a copy of the binding estimate to the bill of lading. Furthermore, the mover must also state that the estimate is only for the services listed.
4. If the moving company notices any additional items or add-ons in your shipment that were not included and described in the original estimate, the mover has the right to refuse service and create a revised binding estimate with the new items added, which will often result in being charged a higher price.

The advantage of binding estimates is that your price is outlined well before the move and will not change. However, if you do end up with a shipment that is less than what the movers estimated, there won't be a discount coming off of your total moving bill at the end.