U-Haul 2008 Annual Report Download - page 7

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2
PART I
Item 1.
Business
Company Overview
We are North America’ s largest “do-it-yourself” moving and storage operator through our subsidiary U-Haul
International, Inc. (“U-Haul”). U-Haul is synonymous with “do-it-yourself” moving and storage and is a leader in
supplying products and services to help people move and store their household and commercial goods. Our primary
service objective is to provide the best product and service to the most people at the lowest cost.
We rent our distinctive orange and white U-Haul trucks and trailers as well as offer self-storage rooms through a
network of nearly 1,450 Company operated retail moving centers and approximately 14,200 independent U-Haul
dealers. In addition, we have an independent storage facility network with over 3,300 active affiliates. We also sell
U-Haul brand boxes, tape and other moving and self-storage products and services to “do-it-yourself” moving and
storage customers at all of our distribution outlets and through our eMove web site.
U-Haul is the most convenient supplier of products and services meeting the needs of North America’ s “do-it-
yourself” moving and storage market. Our broad geographic coverage throughout the United States and Canada and
our extensive selection of U-Haul brand moving equipment rentals, self-storage rooms and related moving and
storage products and services provide our customers with convenient “one-stop” shopping.
For more than sixty years, U-Haul has incorporated sustainable practices into its everyday operations. Our basic
business premise of truck-sharing helps reduce greenhouse gas emissions and reduces the need for total large-
capacity vehicles. Today, we remain focused on reducing waste and are dedicated to manufacturing reusable
components and recyclable products. The commitment to sustainability, through our products and services, has
helped us to reduce our impact on the environment.
Through Republic Western Insurance Company (“RepWest”), our property and casualty insurance subsidiary, we
manage the property, liability and related insurance claims processing for U-Haul. Oxford Life Insurance Company
(“Oxford”), our life insurance subsidiary, sells Medicare supplement, life insurance, annuities and other related
products to non U-Haul customers and also administers the self-insured employee health and dental plans for
Arizona employees of the Company.
We were founded in 1945 under the name “U-Haul Trailer Rental Company.” Since 1945, we have rented trailers.
Starting in 1959, we rented trucks on a one-way and in-town basis exclusively through independent U-Haul dealers.
Since 1974, we have developed a network of U-Haul managed retail centers, through which we rent our trucks and
trailers and sell moving and self-storage products and services to complement our independent dealer network.
Available Information
AMERCO and U-Haul are each incorporated in Nevada. U-Haul’ s internet address is www.uhaul.com. On
AMERCO’ s investor relations web site, www.amerco.com, we post the following filings as soon as practicable after
they are electronically filed with or furnished to the United States Securities and Exchange Commission (“SEC”):
our annual report on Form 10-K, our quarterly reports on Form 10-Q, our current reports on Form 8-K, our proxy
statement related to our annual meeting of stockholders, and any amendments to those reports or statements filed or
furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934. All such filings on our web site
are available free of charge. Additionally, you will find these materials on the SEC’ s website at www.sec.gov.
Products and Rental Equipment
Our customers are primarily “do-it-yourself” household movers. U-Haul moving equipment is specifically
designed, engineered and manufactured for the “do-it-yourself” household mover. These “do-it-yourself” movers
include individuals and families moving their belongings from one home to another, college students moving their
belongings, vacationers and sports enthusiasts needing extra space or having special towing needs, people trying to
save on home furniture and home appliance delivery costs, and “do-it-yourself” home remodeling and gardening
enthusiasts who need to transport materials.
As of March 31, 2008, our rental fleet consisted of approximately 96,000 trucks, 75,000 trailers and 35,000
towing devices. This equipment and our U-Haul brand of self-moving products and services are available through
our network of managed retail moving centers and independent U-Haul dealers. Independent U-Haul dealers receive
rental equipment from the Company, act as a rental agent and are paid a commission based on gross revenues
generated from their U-Haul rentals.