Iowa Realty, a 20-office agency in the Des Moines area, has hit upon a novel way to capitalize on the fact that about three out every four families who move from one residence to another move themselves.
The company has four fully equipped, 14-foot moving vans it lends at no charge to first-time buyers who purchase their homes through one of its 600 agents.
The trucks cost about $80,000, but broker Mike Knapp says it was money well spent. After all, the vehicles display the company’s logo along with the message “I bought my house at Iowa Realty and they let me use this truck,” amounting to mobile advertising that’s hard to miss.
For the most part, do-it-yourself movers tend to be college-age young people with owned or borrowed pickups. Typically, their stereos are their most prized possessions.
But as we become older and accumulate more valuables, we need vans, sometimes big ones. And unless you live in Des Moines, the choice quickly boils down to renting a truck or hiring a commercial mover. Surprisingly perhaps, the decision usually is based more on cost than on labor.
As long as we can save enough money, most of us are willing to do the work ourselves. And renting certainly is the least expensive alternative.
According to Ryder Truck Rental, a family with five or six rooms of furniture can save from 50 to 65 percent, depending on the distance traveled, by renting a truck.
On a move of 1,500 miles, for example, a typical professional mover might charge $2,649, while a do-it-yourself move using a rental truck costs about $1,392.
The savings is even greater on shorter moves, says Ryder. Whereas a mover would charge $1,596 to carry five or six rooms 500 miles, it would cost just $505 to rent a truck.
But any savings can quickly vaporize if you’re not careful. Rental rates vary widely, depending on the time of year, or even the time of the week, the size of the truck, what other services or equipment you’ll need, and whether you’ll bring the vehicle back to where you started.
Generally, rates are lower in the winter than in the summer, when most people move. But they’re also lower on weekdays than on weekends.
Rates for local moves, in which you return the truck to where you picked it up, are usually lower than for long distance, one-way moves. But you may be able to cut a good deal if your destination is short on vehicles.
Obviously, the smaller the truck, the lower the rate. But you don’t want to jam your stuff in so tightly that you damage it.
A good rental agent should be able to help you figure out just how large a truck you’ll need. According to Ryder, a 10-foot minivan usually is sufficient to move a studio apartment. But for three or four rooms (one or two bedrooms), you’ll need a 15-foot midsize van.
For five or six rooms (three bedrooms), Ryder says you should move up to a 20-foot, full-size van. And if you’re moving more than that, a 24-foot maxivan is the correct choice.
You may also want to rent car-towing equipment, which will add to your cost. Some companies offer packing and unloading services at an extra charge.
Insurance is another important consideration. Most automobile policies exclude trucks, and credit cards that provide auto coverage don’t generally cover trucks.
Fortunately, basic liability coverage covering damage to anyone or anything you may hit usually is included in the rental rate. But coverage for the damage to the truck you’re driving, no matter who’s at fault, is about $15 extra a day.
Should you take the extra coverage? That’s up to you, but one insurance agent told me he wouldn’t. “When you get into a strange vehicle, you’re usually three times more careful,” he said. “Besides, a truck comes out a lot better in an accident than a car.”
Be forewarned, however: Even if you take the optional loss damage waiver, you are not covered if you hit a bridge overpass or service station canopy.
That’s considered “over carriage” damage resulting from pure negligence on the driver’s part.
You also need to consider cargo, or personal effects, coverage. It’s pretty inexpensive, but it’s very limited and full of exclusions and loopholes, a former Budget rental agent confided.
A better bet might be to purchase a rider to your homeowners policy.
Either way, however, carry your valuables in your car when you move, not in the truck.
When shopping for the best price, make sure you ask the rental agents to guarantee their price.
More than a few people have complained about sudden rate increases on moving day.
After you’ve made your choice, arrive early enough on moving day to check out your truck.
