If you have an oncoming relocation and plan on hiring movers NJ for assistance, you have probably heard about the necessity of comparing moving estimates. After all, it is one of the essential steps that will help you with determining whether the company in question is the right one for you. However, before you start comparing, it is important that you understand what is it that you are looking at. And, with that said, here are the types of moving estimates you will come across in your search.
The types of moving estimates
Certain moving companies probably have variations and combinations of moving estimates. However, there are three that are most often used by all movers:
- binding moving estimates,
- non-binding moving estimates,
- binding-not-to exceed moving estimates.
So, let us start by explaining the first one.
Binding moving estimate
By offering a binding moving estimate, the mover guarantees a fixed cost estimate. It is based on the approximate weight of the customer’s belongings. What this means is that if you agree to a binding estimate, you will pay exactly the price you were originally quoted. Never mind if you are moving long-distance, or a local NJ relocation is ahead of you. The moving company will not be able to bring up the price whatever the reason may be. However, it also means that you, the customer, won’t be able to pay any less either. In a case where your belongings end up weighing less than was originally estimated, you will still have to cover the fixed cost.
What to consider regarding this option
This may not seem like the most ideal choice, and we will agree that it isn’t. Howbeit, a binding estimate does have its advantages. If you are concerned about a mover over-charging you at the last minute (yes, this does happen), this option will spare you the worry. You will only have to be mindful of them over-charging you at the beginning. Still, by comparing the prices from multiple companies, you ought to get the approximate picture of what the costs ought to be like. Another advantage of going for a binding estimate is that if your belongings happen to exceed the estimated weight, you won’t have to worry about paying the higher price. It is this peace of mind that we believe appeals to many who plan on moving.
Now, if you think that this type of estimate will allow you to sneak additional items onto the truck on moving day, you better think again. According to the Federal Motor Carrier Safety, if you decide to add items to your shipment, you and your movers must alter your agreement. You will either abide by the original binding estimate, negotiate a new estimate, or convert the binding estimate into a non-binding estimate.
The non-binding moving estimate is based on the weight of the customer’s belongings. The “non-binding” aspect of it refers to the price not being set in stone, making it susceptible to change depending on the actual weight of the move.
Aspects to be mindful of
This is one of the types of moving estimates that are highly untrustworthy. Simply put, by saying yes to it, you may be setting yourself up to paying way more than expected. Certain movers will use this estimate to throw you a low-ball but will build up your final costs in the end. This means that you will not only have to pay for the original estimated price. You will also have to pay the additional 10 percent on top at the time of delivery. This happens if your belongings weigh more than expected.
What can also be a problem with this type of moving estimate is that shady companies tend to use them to lure customers with low prices. If a moving company offers only non-binding estimates, we would strongly suggest that you continue your search elsewhere. Rogue movers can and will reel you in with their too-good-to-be-true deals. And that is not the sort of trouble you need in your moving experience.
However, that is not to say that moving companies that offer non-binding estimates are all scammers. Just make sure that you research a mover beforehand, and be aware of all the red flags.
Binding Not-To-Exceed Estimate
Out of all types of moving estimates, this one tends to be the most popular with the customers. Especially if they are having an international relocation or long-distance move. And it is not hard to understand why. Namely, this type of estimate means that even if the weight of your shipment exceeds the original estimate, you will still be charged the original quote. That means no extra costs. In addition, if it so happens that your shipment weighs less than originally estimated, you will only have to pay for the cost of shipping the actual weight. To put it simply, agreeing to a binding not-to-exceed estimate means that you can pay only the price you were originally quoted or less.
Understanding the costs that go into the estimate and the relocation itself
Looking up types of moving estimates means that you want to understand the price of your relocation. And it is for this reason that we will cover all that goes into the moving estimate. Now, when receiving a contract from your movers, they need to be very clear about the type of estimate they are sending you. The estimate also needs to be attached to your Bill of Lading contract. Your long-distance contract needs to have:
- the name and address of your move,
- the tariff cost and miles traveled,
- minimum weight and estimated weight,
- any discounts applied,
- packing and unpacking service fees,
- storage charges, transportation charges, fuel surcharges, insurance surcharges, and accessorial services.
However, when evaluating the overall cost of your relocation, you also need to consider additional expenditures. These would include all the costs outside of the moving estimate from your moving company.
For example, if you plan on purchasing boxes and moving supplies, you need to take them into account. Also, keep in mind that the timing of your move has an effect on the cost of it. Certain times of the week, month and year are pricier than others. Moving during peak season (May to September) means that you will most likely be paying more. The same goes for holidays, weekends, and moving at the beginning or end of the month. Make sure to take all of these into account when comparing moving companies and types of moving estimates.