U-Haul 2011 Annual Report Download - page 7

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 a better and better product or service to
more and more people at a lower and lower cost. Unless the context otherwise requires, the term
“AMERCO,”“Company,” “we,” “us,” or “our” refers to AMERCO, a Nevada Corporation, and all of its legal
subsidiaries, on a consolidated basis.
We were founded in 1945 as a sole proprietorship under the name "U-Haul Trailer Rental Company"
and have rented trailers ever since. Starting in 1959, we rented trucks on a one-way and in-town basis
exclusively through independent U-Haul dealers. In 1974, we began developing our network of U-Haul
managed retail centers, through which we rent our trucks and trailers, self-storage rooms and sell moving
and self-storage products and services to complement our independent dealer network.
We rent our distinctive orange and white U-Haul trucks and trailers as well as offer self-storage rooms
through a network of over 1,400 Company operated retail moving centers and approximately 15,000
independent U-Haul dealers. 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.
We believe U-Haul is the most convenient supplier of products and services addressing 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.
Since 1945 U-Haul has incorporated sustainable practices into its everyday operations. We believe that
our basic business premise of equipment sharing helps reduce greenhouse gas emissions and reduces
the need for total large capacity vehicles. We remain focused on reducing waste and are dedicated to
manufacturing reusable components and recyclable products. We believe that our commitment to
sustainability, through our products and services and everyday operations has helped us to reduce our
impact on the environment.
Through Repwest 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 life insurance, Medicare supplement annuities
and other related products to non U-Haul customers.
Available Information
AMERCO and U-Haul are each incorporated in Nevada. U-Haul’s internet address is uhaul.com. On
AMERCO’s investor relations web site, 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, as amended (the “Exchange Act”). All such filings on our web site are
available free of charge. Additionally, you will find these materials on the SEC’s website at 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.