What to Know When Renting a Moving Truck

The cost of hiring movers can be high, but if you’re ready to do the labor-intensive lifting yourself, renting a moving truck could help you save a few dollars. But there are many things to consider if you decide to do it yourself. How can I secure the best deal? Does homeowners insurance cover me? What truck size do I need? 

These days, a person would do just about anything to cut costs in this tough economy. Even when it comes to moving your home, you may either want to lock in on the lowest prices to do so or you may opt to get the job done yourself. One of the ways in which you can cut back on moving costs is by renting and then driving the moving truck to your new destination.

To help you make an informed choice and have a stress-free moving experience, we’ll review the key factors to consider when renting a moving truck. So, let’s explore the key factors for a smooth DIY move.

Requirements When You Rent a Truck

Renters must meet several requirements. You must have a valid driver’s license that is in good standing as a requirement. The driver’s license must be issued by the state where the rental is occurring and must be shown when renting a truck. You may also need to meet age and driving experience requirements. Typically, you must be at least 21 years old to rent a moving truck.

Renters also need to provide a way to pay for the rental. Depending on the policies of the rental company, this may be a cash deposit or a credit card deposit. The rental company could also ask to present proof of insurance, either in the form of their own insurance policy or insurance they have obtained directly from the rental company. The renter must also be prepared to sign a rental agreement that specifies the terms and conditions of the rental, including the rental length, cost, and any other fees or charges that may be necessary.

Did you know that some states require an additional form of ID apart from your driver’s license? Also, if you’re planning to cross state lines, you might need to show proof of insurance that meets the minimum requirements of both states. Failure to meet these requirements could result in hefty fines or even legal action.

If you’re an international renter, note that an International Driving Permit alongside your native driver’s license is often required. Prepare a checklist of documents to bring, such as your driver’s license, secondary ID, and proof of insurance. Be aware that some companies perform a soft credit check, which won’t impact your credit score but can influence the approval process. According to a 2020 survey, 15% of rental applications get rejected due to incomplete documentation

Different Seasons, Different Prices

Since moving occurs more frequently in the summer than during other times of the year, it could be more challenging to reserve moving trucks between Memorial Day and Labor Day. If you wait until the last minute, you may have trouble finding a truck, especially near the end of the month when demand is high.

The price may change depending on the day of the week or the season. If you can be flexible, see if your pricing changes if you rent the truck during the week rather than the weekend. You might be able to get a better offer on days when moving vehicles are not in great demand.

Pro Tip: Booking your moving truck at least two months in advance during peak season can save you up to 25% on rental costs.

Explore Multiple Options for Your Move

Many individuals default to renting from U-Haul, given its well-established reputation in the moving industry. While U-Haul is certainly a reliable choice, numerous other alternatives are worth considering. Take the time to explore both online and in-person options to see what various companies bring to the table. Additionally, keep an eye out for special promotions or discount codes on coupon websites; these can offer substantial savings on your moving truck rental.

When comparing to moving and storage containers, renting a moving truck often provides more flexibility and immediate control over your belongings, potentially making it a more cost-effective option for those willing to handle the move themselves

Going Green: If you’re environmentally conscious, look for rental companies that offer trucks running on biofuel or electric options. Not only is it better for the planet, but it could also save you money in fuel costs.

Comparing Major Truck Rental Companies

There are several well-known and reputable truck rental companies. U-Haul, Budget, and Penske are three of the most well-known rental companies. Before choosing among these truck rental agencies, it’s very important to weigh their individual strengths and disadvantages.

U-haul:

The biggest American truck rental company offers an extensive fleet of rental trucks and trailers. It is simple to choose the ideal vehicle for your needs because they have a range of sizes available, from small cargo vans to big moving trucks.

Budget:

Another popular selection for renting trucks. They provide a variety of truck sizes, from cargo vans to 26-foot moving trucks. If you’re moving over a long distance, they also provide one-way rentals, which can be handy. 

Penske:

It is known for its premium trucks and top-notch customer support. Along with a selection of packing and moving supplies, they provide moving trucks in a range of sizes, from 12-footers to 26-footers. Penske is known for having well-kept trucks, which can help avoid breakdowns and other problems on the road. Penske trucks are often praised for their maintenance and reliability, scoring an average of 4.5 out of 5 stars in customer reviews.

The Cost of Renting a Moving Truck

For in-state or out-of-state moves, the price of renting a moving truck can vary based on a number of factors, including the size of the truck, the length of the rental, and the distance traveled. A daily rate and a per-mile fee are usually charged by rental companies for the use of the truck.

For local and interstate moves, the following is a general estimate of the typical moving truck rental costs:

Local Moves:

• Typical daily rental fees for smaller trucks range from $19.95 to $39.95, while daily rates for larger trucks can reach $100 or more.
• The average per-mile rate is between $0.59 and $0.99.
•  The average cost of a local move using a rental truck is $80-$160, compared to $1,250 for a professional moving service. That’s a potential saving of over $1,000!

Out-of-State Moves:

• For larger trucks, daily rental costs can range from $100 to $200 or more.
• The normal per-mile rate is between $0.20 and $0.70.
• There may be additional charges, such as gasoline costs, taxes, and insurance.
• The average cost of a DIY move is around $200-$300 for local moves and up to $2,000 for long-distance moves.

Rental Period

Add the time required to load and unload your possessions, as well as any potential delays. If you only need the truck for a short period of time, flexible choices like hourly or daily rent from some rental truck companies may be helpful. Consider the distance you’ll cover and the time it will take, as these factors influence your rental duration.

It’s important that you understand the fees involved in extending your rental if you need to. Late returns may result in additional charges from some truck rental companies, while others may ask you to pay for a completely new rental period. Make sure that you read and understand the rental agreement before signing it, and ask the truck rental company questions you may have regarding their rental term policies. This will help you prevent any unpleasant surprises.

Find the Right Size Truck for a Move

Make sure that the truck is the right size and can hold all your items comfortably. Remember that a truck that is not big enough to fit your household items could cost you more time as you may have to drive to and from your new home and then back again to pick up the extra items. Renting a truck that is too tiny and having to make several trips is the last thing you desire to do. The majority of truck rental businesses will work with you to choose the right size truck based on your goods to fit into or the things you’re moving.

Similarly, if the truck is too big then the empty spaces can cause your items to sway this way and that which could eventually cause damage. Perhaps you can ask the moving company to recommend a truck size that would hold all your items comfortably. You can also pay a small fee to have someone from the moving company come to your home and evaluate your items to determine the size of the truck you should get.

Truck Insurance

In case of an accident or damage to the truck, think about your insurance alternatives to protect you and your possessions. To find out if they provide coverage for rental trucks, start by asking your own automobile insurance provider. You might need to obtain insurance from the rental truck company if the rental trucks are not covered by your personal auto insurance policy.

Liability insurance, collision insurance, and personal property coverage are just a few of the insurance options that many rental truck businesses provide. In the event of an accident, liability insurance normally pays for losses or injuries to third parties or their property, whereas collision insurance pays for damage to the rental truck. Your possessions can be covered by personal property insurance in the event of theft, loss, or damage when being moved.

Liability insurance can cost around $15 per day, while more comprehensive coverage can go up to $30 per day.

Renting Additional Equipment

When it comes to moving bulky or heavy items, additional equipment might be a lifesaver. Moving boxes and other items up and down stairs can be made much easier with the use of a hand truck. This can help you save time and effort and reduce the possibility of getting hurt. Furniture pads are another excellent addition because they offer your furniture an additional layer of protection while in transit.

Although these additional tools can be quite useful, it’s crucial to remember that you’ll probably have to pay for using them. Make sure to properly read the rental agreement to understand the fees before renting any additional equipment. Make sure to account for these charges in your moving budget to avoid being surprised by unanticipated expenses.

Fuel Cost

The cost of fuel might be substantial. It’s necessary to budget for this price because rental agencies require you to return the vehicle with a full tank. Fuel charges could quickly pile up depending on the distance of your move. Planning your route carefully and attempting to avoid areas with heavy traffic are two ways to save money on fuel.

The type of truck you’re renting is a crucial factor when it comes to gasoline expenses. Larger vehicles often have lower fuel economy, which can result in large costs over the course of a protracted move. Consider renting a more economical truck or one with better fuel efficiency if you’re looking to cut costs.

Different truck sizes have varying fuel efficiency. Larger trucks may consume fuel at a rate of 10 miles per gallon, while smaller ones can go up to 15 miles per gallon. Use this formula to estimate your fuel costs: (Total Distance / Miles Per Gallon) x Gas Price. To improve fuel efficiency, avoid rapid acceleration and deceleration. According to the U.S. Department of Energy, this can lower your gas mileage by roughly 15% to 30% at highway speeds.

Consider the Mileage

When you rent a moving truck, most companies will charge you per mile, but exactly how much they charge varies from company to company. Some moving companies will throw in a certain amount of miles into the contract and then charge after you surpass that particular number. Call around to see what different moving truck rental companies offer, then consider what will work best for the distance of your move.

Location

Sometimes it can be tempting to go with smaller moving companies that offer better rates, but this may not work out so well for you if you are moving a long distance. Moving companies that do not have a location where you are moving, means you have to turn around and return the moving van. This not only costs you time, money and energy, but you may also end up with extra unexpected fees if you did not plan on having to return the moving van.

Inspecting a Rental Truck

When you have the truck in your possession, give it a test drive in a wide open space so that you can get familiar with everything from the controls to even adjusting the seat and mirrors to further help you on moving day.

Additionally, before returning the truck, be careful to check it for damage. If possible, take pictures of the damage to show the rental truck business. Precautionary Step: Always check the truck’s brakes, lights, and signals before leaving the rental location. Any issues? Report them immediately to avoid liability.

Once you have all the aforementioned sorted out and the moving day arrives, here are a few things you may want to look out for when driving to your new home. Firstly, unlike your personal vehicle, you would have to take wider turns when you drive the truck. Also, you may have chosen a pretty high truck and because of this, you may need to take an alternate route especially if the truck is too tall to get on the underpass, bridges, and drive-thru places to name a few.

Book In Advance

It’s always a good idea to reserve a moving truck in advance, especially if your move comes during the peak moving season. In order to avoid any last-minute stress or disappointment, schedule your truck as early as possible during this time of year as moving companies and rental truck agencies can shortly run out of availability.

Consider Hiring Helpers

If your time is more valuable than the cost of hiring helpers, it might be worth the investment. With all the research and work required in renting a moving truck, you may want to reconsider getting helpers to help you load and unload. Picking out a moving truck is one of the many things that moving companies save you time and energy on, so maybe if all of these listed items seem like a lot of work, reconsider hiring movers to help you out.

Hidden Costs When Renting a Moving Truck

You might think you’ve got all your bases covered when you see that daily rental fee. But hold on, there’s more to the story. Those initial costs are just the tip of the iceberg. You could get hit with extra fees that you didn’t see coming, like “environmental fees” or “administrative fees.” These are often small charges that can add up. For instance, some companies charge for the use of their moving blankets or dollies, which you might assume are included.

Ever heard of “peak day” surcharges? Yep, renting on certain high-demand days could cost you more. And let’s not forget about fuel surcharges or the cost of additional insurance coverage. These aren’t just numbers; they’re factors that could significantly impact your moving budget. So, before you sign that rental agreement, ask for a complete breakdown of all potential charges. Knowledge is power, and in this case, it could also mean more money in your pocket.

Penalties

There’s something you might not have thought about penalties. Yes, you heard it right. When you’re renting a moving truck, returning it late or in a condition that’s not up to par could hit your wallet harder than you’d expect. Some companies charge steep fees for late returns, and that’s not all. If the truck isn’t clean or if you’ve exceeded the mileage limit set in your contract, additional charges could apply. These aren’t just minor details; they’re crucial factors that could significantly impact your moving budget.

Now, you’re probably wondering, “How can I avoid these penalties?” First, always read the fine print in your rental agreement. It’s your go-to guide for understanding what could trigger extra fees. Second, plan your move meticulously. Make sure you allocate enough time for unexpected delays, and keep an eye on the mileage. If you think you might go over, contact the rental company in advance to discuss your options.

Types of damages that could incur fees include interior stains or exterior dents and scratches. It’s advisable to take photos of the truck before and after your move as a precautionary measure. If you believe you’ve been unfairly penalized, most companies have a dispute resolution process. The average penalty for late returns can range from $50 to $150, depending on the company

Driving a Moving Truck

No matter how much of a seasoned driver you are with your own vehicle, you could really never anticipate what it is like to drive a moving truck. The minute you find out that you will be moving, you should the moving truck company to secure a truck for your moving day.

Professional moving truck drivers would also advise that you pull your brakes early as you approach a stop light and do not back up the vehicle unless you have someone with you who can get out of the vehicle and guide you. Most of all, find out if you can get insurance coverage for the truck, just in case there are any vehicular damages along the way. Even if your insurance company does not cover it, it would be wise to find an insurance company that does.

Return Policy

If you have any doubts regarding the return policy, make sure to thoroughly read the rental agreement. Most of the time, rental truck companies require that you deliver the truck on schedule. This calls for the truck to be clean, unharmed, and free of any additional equipment or household items.

Plan your rental period carefully and make sure to return the truck on time because late returns may incur additional penalties. Contact the truck rental office right away to make plans and prevent any additional fees if you believe you may need to extend your rental period.