Though truck rental moves are cheaper than other types of moves, it's still smart to plan a budget. Include costs for gas, insurance and hotel stays for long distance moves.
One of the biggest costs when moving is hiring a full-service moving company. But if you want to save money, consider a do-it-yourself move, where you rent the truck and take care of everything else. However, the charges involved in the truck rental are not exclusive to the rental fee on the vehicle. In order to properly budget for a truck rental move, you'll need to factor in some of the following expenses.
Gas
Figure on getting about 10 miles per gallon in the city. If you're driving on the highways, figure closer to 12 to 13 gallons per mile for your truck rental. But if you have to tow your car or trailer, your gas mileage might even be below 10 miles per gallon.
Insurance
If your current insurance company or credit card company doesn't cover truck rentals, you'll need to pay for the coverage. Prices vary depending upon the type of coverage you want. For instance, there is Limited Damage Waiver insurance that protects you against property damage on the truck rental. Then there is Supplemental Liability Insurance that covers you against any claims made by third parties. And if you want to protect your belongings while they're in the truck rental, you'll need to budget for additional insurance (cargo insurance or assessed value insurance).
Equipment and other miscellaneous rentals
With a truck rental, you'll need to factor in the rental cost for such items as dollies, blankets and moving pads. And as with any type of move, budget money for packing supplies like boxes, bubble wrap and packing tape.
Hotel stays for long distance moves
If you plan to move long distance, you'll have to factor in hotel stays. If you're moving cross-country, calculate how many days it will take you to travel and multiply that by the cost of an average night stay. Don't forget to include the price of meals.
Other expenses for a long distance move
If you're planning on a one-way truck rental for a long distance move, you might have to add the price of airfare, train fare or the cost of gas for a second vehicle for those family members that cannot fit in the truck.
