The moving industry tends to use complicated moving terms. It is important for you to understand and ask questions before, during, and after your move. Part of it is being able to acknowledge specific moving terms, especially financial terms. Ultimately, this will help you understand specific costs associated with your move, so you can either properly financially plan or not have any unwanted cost surprises.
Bill of Lading — the contract between the mover and the customer that also acts as a receipt (it’s important to understand everything on the bill of lading before you sign it.)
Binding/non-binding estimate —
- Binding – a flat price based upon a given inventory meaning no matter how long the job takes, the flat price is always paid (it’s given only when an onsite estimate is performed.)
- Non-Binding – estimates based upon the movers’ previous experience (these estimates are subject to change.)
- Hourly Rates – charging by the hour, per person, per truck
Full-replacement value coverage — the amount of money to purchase a new replacement for a damaged item regardless of the age of the item (Most valuation policies require the entire load to be covered — not just specific items. Ask your carrier for terms.)
If at any point during your move you encounter a term you don’t understand, ask the representative from your moving company to clarify.