If your air conditioner is not cooling your home efficiently or is not kicking on, you may be calling an air conditioning repair service to assist you. It is recommended that you obtain written quotes from at least a few companies to ensure you don't overpay for the repairs. However, as you get quotes, you will find that some quotes are binding, while others are nonbinding. A binding quote, also referred to as a fixed-price quote, means that you will not pay more for the repair than the price you are quoted. While this may sound ideal, there are some downsides to it as well. Learning the pros and cons of getting a binding quote will help you understand if it is something you want to ask an air conditioner repair company for. Here are some of the pros and cons of getting a binding quote for air conditioning repair services.
Cons of Air Conditioner Repair Services Binding Quotes
- You May Overpay
One of the downsides to getting a binding estimate or quote for air conditioner repair is that the quote may be higher than you would normally pay for similar repairs. This is because the contractor offering the binding quote may want to plan on the worst-case scenario with the part in question. They may think that they can repair the part using one method, but to ensure they don't eat labor and the cost of parts that may be necessary if they have to use a different method, they quote on the higher end to be safe. If the cheaper or faster repair method works, you are still charged the higher rate, because you and the contractor have now both entered into a legally binding contract when you signed off on the binding quote.
- You May Still Pay More Than You Are Quoted
It is important to note that when you receive a binding quote, that quote only applies to the parts listed on the estimate or for the problem listed on the estimate. In some cases, an air conditioning repair service person will begin making the repair you need, only to notice that other repairs are needed. Unfortunately, since these parts are not on the binding quote and don't relate to your original problem, they aren't covered under the binding quote.
Pros of Air Conditioner Repair Services Binding Quotes
- You Know What You Will Pay for the Repair
The biggest benefit to obtaining a binding quote for air conditioning repair services is that you and the air conditioning repair company agree on a set price for your repair. There will be no surprises or additional charges for this particular repair. If you live paycheck to paycheck, have a fixed income, or are worried about not having the money for the repair if the costs exceed the estimate, getting a binding quote helps ensure that you know what you will be paying and can have the money ready to go.
- You Aren't Penalized If a Repair Company Underestimates
The second advantage to binding quotes is that you are not penalized if the repair company underestimates the cost of the repair. If you obtain a traditional written estimate and decide to go with the company, you will be asked to sign a contract. This contracts states that if the repairs exceed the quote, you could be charged more. However, when you receive a binding quote, it is the repair company's fault if they underestimate. This means that in some circumstances, you can get a great deal.
When you are having any home repairs or construction work done, you can get binding quotes or estimates or nonbinding quotes and estimates, and this is the case when it comes to air conditioning repair services, as well. Learning the pros and cons of binding estimates will help you decide if you should look for companies that offer them or stick to traditional written estimates. Start looking for companies like Doctor Fix-It and ask their representatives how they handle estimates and quotes.