<SEC-DOCUMENT>0000004457-17-000011.txt : 20170113
<SEC-HEADER>0000004457-17-000011.hdr.sgml : 20170113
<ACCEPTANCE-DATETIME>20170113145639
ACCESSION NUMBER:		0000004457-17-000011
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		12
FILED AS OF DATE:		20170113
DATE AS OF CHANGE:		20170113
EFFECTIVENESS DATE:		20170113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERCO /NV/
		CENTRAL INDEX KEY:			0000004457
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510]
		IRS NUMBER:				880106815
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-215546
		FILM NUMBER:		17527571

	BUSINESS ADDRESS:	
		STREET 1:		5555 KIETZKE LANE STE 100
		CITY:			RENO
		STATE:			NV
		ZIP:			89511
		BUSINESS PHONE:		7756886300

	MAIL ADDRESS:	
		STREET 1:		5555 KIETZKE LANE
		STREET 2:		SUITE 100
		CITY:			RENO
		STATE:			NV
		ZIP:			89511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERCO
		DATE OF NAME CHANGE:	19770926
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>s3asr.htm
<DESCRIPTION>FORM S-3
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            <p style="margin:0pt; text-align:center"><a name="_DMBM_820"></a><a name="_CSF_TOC_1"></a><a name="EDGAR_PAGE_START1"></a><font style="font-family:'Times New Roman'; font-size:10pt">As filed with the Securities and Exchange Commission on </font><font style="font-family:'Times New Roman'; font-size:10pt">January </font><font style="font-family:'Times New Roman'; font-size:10pt">13</font><font style="font-family:'Times New Roman'; font-size:10pt">, 2017</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Registration No. </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">333-</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:18pt; font-weight:bold">UNITED STATES</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:18pt; font-weight:bold">SECURITIES AND EXCHANGE COMMISSION</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Washington, D.C. 20549</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:18pt; font-weight:bold">FORM S-3</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">REGISTRATION STATEMENT</font><font style="font-family:'Times New Roman'; font-size:10pt"> </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">UNDER</font><font style="font-family:'Times New Roman'; font-size:10pt"> </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">THE SECURITIES ACT OF 1933</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:24pt; font-weight:bold">AMERCO</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(Exact name of registrant as specified in its charter)</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt"> </font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt"> </font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Nevada</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt"> </font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">88-0106815</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(State or other jurisdiction of</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(I.R.S. Employer</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">of incorporation or organization)</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Identification Number)</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">5555 Kietzke Lane</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">, Suite</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">100</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Reno, Nevada 895</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">11</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(775)</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">688-6300</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(Address, including zip code, and telephone number, including area code,</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">of registrant&#8217;s principal executive offices)</font></p>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Laurence De Respino, Esq.</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">General Counsel</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">AMERCO</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">5555 Kietzke Lane</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">, Suite</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">100</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Reno, Nevada 895</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">11</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(775)</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">688-6300</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">(Name, address, including zip code, and telephone number, including</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">area code, of agent for service)</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold; font-style:italic">Copy to:</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Gregory R. Hall, Esq.</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">DLA Piper LLP (US)</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">2525 East Camelback Road, Suite 1000</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Phoenix, AZ 85016</font></p>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Approximate date of commencement of prop</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">osed sale to the public:</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold"> From time to time after the effective date of this registration statement.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">If the only securities being registered on this form are being offered pursuant to dividend or interest reinvestment plans, please check the following box</font><font style="font-family:'Times New Roman'; font-size:10pt">:</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest </font><font style="font-family:'Times New Roman'; font-size:10pt">reinvestment plans, check the following box:</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[X]</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">If this form is filed to register additional securities for an offering pursuant to Rule</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">462(b) under the Securities Act, check the following box and list the Securities Act registration statement number </font><font style="font-family:'Times New Roman'; font-size:10pt">of the earlier effective registration statement for the same offering:</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><a name="EDGAR_PAGE_END1"></a></p>
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            <p style="margin:0pt"><a name="EDGAR_PAGE_START2"></a><font style="font-family:'Times New Roman'; font-size:10pt">If this form is a post-effective amendment filed pursuant to Rule</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">462(c) under the Securities Act, check the following box and list the Securities Act registration statement</font><font style="font-family:'Times New Roman'; font-size:10pt"> number of the earlier effective registration statement for the same offering:</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the</font><font style="font-family:'Times New Roman'; font-size:10pt"> Commission pursuant to Rule 462(e) under the Securities Act, check the following box. </font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt">[X]</font><font style="font-family:'Wingdings 2'; font-size:10pt"></font><br /><a name="Check1"></a><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or ad</font><font style="font-family:'Times New Roman'; font-size:10pt">ditional classes of securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. </font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><br /><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a </font><font style="font-family:'Times New Roman'; font-size:10pt">non-accelerated filer, or a smaller reporting company.</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">Large accelerated filer&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt">[X]</font><font style="font-family:'Wingdings 2'; font-size:10pt"></font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; 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font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; 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font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:10pt">Non-accelerated filer</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">(Do not check if a smaller reporting company)</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">Smaller reporting company</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">[</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">]</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <table cellspacing="0" cellpadding="0" style="border-collapse:collapse; margin-left:0pt; width:100%">
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                        <p style="margin:0pt 0pt 6pt; text-align:center"><br /><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">CALCULATION OF REGISTRATION FEE</font></p>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                            <p style="margin:3pt 0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Title of Ea</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">ch Class of </font></p>
                            <p style="margin:3pt 0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Securities to be</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold"> </font></p>
                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Registered</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Amount to be</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold"> </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Registered (1)</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Proposed Maximum </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Offering Price Per</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold"> Security (1)</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Proposed Maximum Aggregate </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Offering Price</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold"> (1)</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Amount of </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Registration</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold"> Fee (2)</font></p>
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                            <p style="margin:0pt 0pt 6pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:normal">Debt Securities</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:normal">Common Stock, par value $0.25 per </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:normal">share</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:normal">Preferred Stock, par value $0.___ per share</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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                            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font></p>
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            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:10pt">(1) Omitted pursuant to General Instruction II.E of Form S-3. An indeterminate amount of securities to be offered at indeterminate prices is being registered pursuant to this registration </font><font style="font-family:'Times New Roman'; font-size:10pt">statement.&#160; Separate consideration may or may not be received for securities that are issuable upon conversion of exchange of other securities.&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt">Any securities registered hereunder may be sold separately or as units with the other securities registered her</font><font style="font-family:'Times New Roman'; font-size:10pt">eunder.</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt">In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended, the shares being registered hereunder include such indeterminate number of shares of common stock and preferred stock as may be issuable with respect to the shares bei</font><font style="font-family:'Times New Roman'; font-size:10pt">ng registered hereunder as a result of stock splits, stock dividends or similar transactions.</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:10pt">(2) The registrant is deferring payment of the registration fee pursuant to Rule 456(b) and is excluding this information in reliance on Rule 456(b) and Rule 457</font><font style="font-family:'Times New Roman'; font-size:10pt">(r), except for filing fees of $11,224 that have already been paid with respect to unsold securities of the registrant previously registered pursuant to registration statement no. 333-193427 on Form S-3 which became effective on January 17, 2014.&#160; Pursuant</font><font style="font-family:'Times New Roman'; font-size:10pt"> to Rule 415(a)(6), the registrant is carrying forward $195,238,600 in unsold securities and $11,224 in filing fees associated with those unsold securities from registration no. 333-193427 to this registration statement, which filing fees have been paid in</font><font style="font-family:'Times New Roman'; font-size:10pt"> advance of any future offerings of securities registered under this registration statement.&#160; Any additional registration fees will be paid subsequently on a pay-as-you-go basis.&#160; Pursuant to Rule 415(a)(6), the offering of the unsold securities registered</font><font style="font-family:'Times New Roman'; font-size:10pt"> pursuant to registration statement no. 333-193427 will be deemed terminated as of the date of effectiveness of this registration statement.</font></p>
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            <p style="margin:5pt 0pt"><a name="EDGAR_PAGE_START3"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">P</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">ROSPECTUS</font></p>
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            <p style="margin:12pt 0pt 5pt; text-align:center"><img src="image3.gif" width="294" height="35" alt="" style="-aw-left-pos:0pt; -aw-rel-hpos:column; -aw-rel-vpos:paragraph; -aw-top-pos:0pt; -aw-wrap-type:inline" ></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Debt Securities</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Common Stock</font><br /><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Preferred Stock</font><br /><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">By this prospectus, we may offer from time to time:</font><font style="font-family:'Times New Roman'; font-size:12pt"> debt securities; common stock; and preferred stock.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">When we offer securities, we will provide you with a prospectus supplement describing the terms of the specific issue of securities, including the price of the securities. You should read this prospectus</font><font style="font-family:'Times New Roman'; font-size:12pt"> and any prospectus supplement carefully before you decide to invest. This prospectus may not be used to sell securities unless it is accompanied by a prospectus supplement that further describes the securities being delivered to you.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We may offer and sell</font><font style="font-family:'Times New Roman'; font-size:12pt"> these securities to or through one or more underwriters, dealers and agents, or directly to purchasers, on a continuous or delayed basis.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Our common stock is listed for trading on the NASDAQ Global Select Market under the symbol &#8220;UHAL.&#8221; We have not yet de</font><font style="font-family:'Times New Roman'; font-size:12pt">termined whether any of the securities that may be offered by this prospectus will be listed on any exchange, or included in any inter-dealer quotation system or over-the-counter market. If we decide to seek the listing or inclusion of any such securities </font><font style="font-family:'Times New Roman'; font-size:12pt">upon issuance, the prospectus supplement relating to those securities will disclose the exchange, quotation system or market on or in which the securities will be listed or included.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Investing in our securities involves risks. We may include specific risk </font><font style="font-family:'Times New Roman'; font-size:12pt">factors in an applicable prospectus supplement under the heading &#8220;Risk Factors.&#8221;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">In this prospectus, when we use the terms &#8220;AMERCO,&#8221; the &#8220;Company,&#8221; &#8220;the combined company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our,&#8221; we mean AMERCO and its subsidiaries unless the context required</font><font style="font-family:'Times New Roman'; font-size:12pt"> otherwise.</font></p>
            <p style="margin:6pt 0pt 12pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">____________________</font></p>
            <p style="margin:6pt 0pt 0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Investing in our securities involves certain risks.&#160; See &#8220;Risk Factors&#8221; beginning on Page</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">5</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold"> of this prospectus and in the applicable prospectus supplement for certain risks you should consider.&#160; You should carefully read th</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">e entire prospectus before you invest in our securities.</font></p>
            <p style="margin:6pt 0pt 12pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">____________________</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold"> prospectus.</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Any representation to the contrary is a criminal offense.</font></p>
            <p style="margin:0pt 0pt 6pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">____________________</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">January </font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">13</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">, 2017</font></p>
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START4"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">TABLE OF CONTENTS</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">About This Prospectus</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">1</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">About AMERCO</font></p>
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                    <td style="padding-left:2.35pt; padding-right:2.35pt; vertical-align:bottom; width:11.68%">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">4</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">Risk Factors</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">5</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">Note Regarding Forward-Looking Statements</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">6</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Description of </font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Securities</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Use of Proceeds</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Ratio of Earnings to Fixed Charges</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">Plan of Distribution</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">8</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">Legal Matters</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">9</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal; text-decoration:underline">Experts</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">9</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Incorporation of Certain Information by Reference</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">10</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Where You Can Find More Information</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">1</font><font style="font-family:'Times New Roman'; font-size:12pt">1</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">If you are in a jurisdiction where offers to sell, or solicitations of offers to purchase, the securities offered by this document are unlawful, or if you are a person to whom it is unlawful to direct these types of activities, then the offer presented in </font><font style="font-family:'Times New Roman'; font-size:12pt">this prospectus does not extend to you.</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We have not authorized anyone to give any information or make any representation about us that is different from, or in addition to, that contained in this prospectus, including in any of the materials that we have</font><font style="font-family:'Times New Roman'; font-size:12pt"> incorporated by reference into this prospectus, any accompanying prospectus supplement and any free writing prospectus prepared or authorized by us.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Therefore, if anyone does give you information of this sort, you should not rely on it as authorized by u</font><font style="font-family:'Times New Roman'; font-size:12pt">s.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Neither the delivery of this prospectus, nor any sale made hereunder, shall under any circumstances create any implication that there has been no change in our affairs since the date hereof or that the information incorporated by reference herein is co</font><font style="font-family:'Times New Roman'; font-size:12pt">rrect as of any time subsequent to the date of such information.</font></p>
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START5"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">ABOUT THIS PROSPECTUS</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">This prospectus is part of a registration statement on Form S-3 that AMERCO has filed with the Securities and Exchange Commission, or the SEC, utilizing</font><font style="font-family:'Times New Roman'; font-size:12pt"> the &#8220;shelf&#8221; registration process for the offering and sale of securities pursuant to Rule 415 under the Securities Act of 1933, as amended, or the Securities Act.&#160; Under the shelf registration process, we may, over time, sell any combination of securities</font><font style="font-family:'Times New Roman'; font-size:12pt"> described in this prospectus.</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">This prospectus provides you with a general description of the securities that AMERCO may offer hereunder.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Each time AMERCO sells a type or series of securities, </font><font style="font-family:'Times New Roman'; font-size:12pt">we</font><font style="font-family:'Times New Roman'; font-size:12pt"> will provide a prospectus supplement that will contain sp</font><font style="font-family:'Times New Roman'; font-size:12pt">ecific information about the offering and the terms of the particular securities offered.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The prospectus supplement may also add, update or change information contained in this prospectus.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">You should read both this prospectus and any prospectus supplemen</font><font style="font-family:'Times New Roman'; font-size:12pt">t together with the additional information described under the headings &#8220;Where You Can Find More Information.&#8221;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">In each prospectus supplement, we will include the following information:</font></p>
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                <li style="margin:0pt 0pt 0pt 64.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">the rates and times of payment of interest, dividends or other payments, if any;</font></li>
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            <p style="margin:12pt 0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">A prospectus supplement may include a discussion of risks or other special considerations applicable to us or </font><font style="font-family:'Times New Roman'; font-size:12pt">the offered securities. A prospectus supplement may also add, update or change information in this prospectus. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement, you must rely on the informati</font><font style="font-family:'Times New Roman'; font-size:12pt">on in the prospectus supplement. Please carefully read both this prospectus and the applicable prospectus supplement together with additional information described under the heading &#8220;Where You Can Find More Information.&#8221; This prospectus may not be used to </font><font style="font-family:'Times New Roman'; font-size:12pt">offer or sell any securities unless accompanied by a prospectus supplement.</font></p>
            <p style="margin:0pt 0pt 12pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">The </font><font style="font-family:'Times New Roman'; font-size:12pt">re</font><font style="font-family:'Times New Roman'; font-size:12pt">gistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement containing this prospectus, including exhibits to the </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement, provides additional information about us and the securities offered under t</font><font style="font-family:'Times New Roman'; font-size:12pt">his prospectus. The </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement can be read at the SEC website or at the SEC&#8217;s public reading room mentioned under the heading &#8220;Where You Can Find More Information.&#8221;</font></p>
            <p style="margin:0pt 0pt 12pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We have not authorized any broker-dealer, salesperson or other person to give a</font><font style="font-family:'Times New Roman'; font-size:12pt">ny information or to make any representation other than those contained or incorporated by reference in this prospectus and any accompanying supplement to this prospectus. You must not rely upon any information or representation not contained or incorporat</font><font style="font-family:'Times New Roman'; font-size:12pt">ed by reference in this prospectus or the accompanying prospectus supplement. This prospectus and the accompanying supplement to this prospectus do not constitute an offer to sell or the solicitation of an offer to buy securities, nor do this prospectus an</font><font style="font-family:'Times New Roman'; font-size:12pt">d the accompanying supplement to this prospectus constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation. The information contained in this pr</font><font style="font-family:'Times New Roman'; font-size:12pt">ospectus and the accompanying prospectus supplement speaks only as of the date set forth on the cover page and may not reflect subsequent changes in our business, financial condition, results of operations and prospects even though this prospectus and any </font><font style="font-family:'Times New Roman'; font-size:12pt">accompanying prospectus supplement is delivered or securities are sold on a later date.</font></p>
            <p style="margin:0pt 0pt 12pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We may sell the securities directly to or through underwriters, dealers or agents. We, and our underwriters or agents, reserve the right to accept or reject all or part</font><font style="font-family:'Times New Roman'; font-size:12pt"> of any proposed purchase of securities. If we do offer securities through underwriters or agents, we will include in the applicable prospectus supplement:</font></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">2</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START7"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic">Common Stock</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic">.</font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic"> </font><font style="font-family:'Times New Roman'; font-size:12pt">We may issue shares of our common stock from time to time. Holders of our common stock are entitled to one vote per share for the election of directors an</font><font style="font-family:'Times New Roman'; font-size:12pt">d on all other matters that require stockholder approval. Subject to any preferential rights of any outstanding preferred stock, in the event of our liquidation, dissolution or winding up, holders of our common stock are entitled to share ratably in the as</font><font style="font-family:'Times New Roman'; font-size:12pt">sets remaining after payment of liabilities </font><font style="font-family:'Times New Roman'; font-size:12pt">and the liquidation preferences of any outstanding preferr</font><font style="font-family:'Times New Roman'; font-size:12pt">ed stock. Our common stock does not carry any redemption rights or any preemptive rights enabling a holder to subscribe for, or receive shares of, any class of our common stock or any other securities convertible into shares of any class of our common </font><font style="font-family:'Times New Roman'; font-size:12pt">stoc</font><font style="font-family:'Times New Roman'; font-size:12pt">k.</font><font style="font-family:'Times New Roman'; font-size:12pt"> Any such issuance of common stock may cause the dilution of our existing outstanding equity securities.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic">Preferred</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic"> Stock. </font><font style="font-family:'Times New Roman'; font-size:12pt">We may issue shares of our preferred stock from time to time, in one or more series. Under our certificate of incorporation, our boa</font><font style="font-family:'Times New Roman'; font-size:12pt">rd of directors has the authority, without further action by stockholders, to designate up to 50,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed u</font><font style="font-family:'Times New Roman'; font-size:12pt">pon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption, liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">If we issue preferr</font><font style="font-family:'Times New Roman'; font-size:12pt">ed stock, we will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series that we sell under this prospectus and applicable prospectus supplements in the certificate of designations relating to that se</font><font style="font-family:'Times New Roman'; font-size:12pt">ries. If we issue preferred stock, we will incorporate by reference into the </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement of which this prospectus is a part the form of any certificate of designations that describes the terms of the series of preferred stock we are offering bef</font><font style="font-family:'Times New Roman'; font-size:12pt">ore the issuance of the related series of preferred stock. We urge you to read the prospectus supplement related to any series of preferred stock we may offer, as well as the complete certificate of designations that contains the terms of the applicable se</font><font style="font-family:'Times New Roman'; font-size:12pt">ries of preferred stock.</font><font style="font-family:'Times New Roman'; font-size:12pt"> Any issuance of our preferred stock may cause the dilution of our existing outstanding equity securities.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic">Debt Securities</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">. </font><font style="font-family:'Times New Roman'; font-size:12pt">We may issue debt securities from time to time, in one or more series, as either senior or subordinated debt</font><font style="font-family:'Times New Roman'; font-size:12pt">. The senior debt securities will rank equally with any other unsubordinated debt that we may have and may be secured or unsecured. The subordinated debt securities will be subordinate and junior in right of payment, to the extent and in the manner describ</font><font style="font-family:'Times New Roman'; font-size:12pt">ed in the instrument governing the debt, to all or some portion of our indebtedness.&#160; Additionally, we may issue common and/or preferred stock from time to time.&#160; Any such issuance of equity securities may cause the dilution of our existing outstanding equ</font><font style="font-family:'Times New Roman'; font-size:12pt">ity securities.&#160; </font><a name="EDGAR_PAGE_END7"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">3</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START8"></a><font style="font-family:'Times New Roman'; font-size:12pt">If we issue debt securities, they will be issued under one or more documents called indentures, which are contracts between us and a trustee for the holders of the debt securities. If we issue preferred stock, it will be issued pursuant t</font><font style="font-family:'Times New Roman'; font-size:12pt">o a certificate of designation of the rights and preferences of such securities, to the extent and in the manner described in such document.&#160; We urge you to read the prospectus supplement related to the series of debt securities or equity securities being </font><font style="font-family:'Times New Roman'; font-size:12pt">offered, as the case may be, as well as the complete indenture that contains the terms of the debt securities (which will include a supplemental indenture) and the complete preferred stock certif</font><font style="font-family:'Times New Roman'; font-size:12pt">icate of designation, if any.&#160; </font><font style="font-family:'Times New Roman'; font-size:12pt">If we issue debt securities, i</font><font style="font-family:'Times New Roman'; font-size:12pt">ndentures and forms of debt securities containing the terms of debt securities being offered will be incorporated by reference into the </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement of which this prospectus is a part from reports we </font><font style="font-family:'Times New Roman'; font-size:12pt">have filed or </font><font style="font-family:'Times New Roman'; font-size:12pt">would subsequently file with the</font><font style="font-family:'Times New Roman'; font-size:12pt"> SEC. Similarly, if we issue preferred stock, the certificate of designation containing the terms of such preferred stock being offered will be incorporated by reference into the </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement of which this prospectus is a part from reports we wou</font><font style="font-family:'Times New Roman'; font-size:12pt">ld subsequently file with the SEC.&#160; </font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">In this prospectus, when we use the terms &#8220;AMERCO,&#8221; the &#8220;Company,&#8221; &#8220;the combined company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our,&#8221; we mean AMERCO and its subsidiaries</font><font style="font-family:'Times New Roman'; font-size:12pt"> unless the context requires otherwise</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">ABOUT AMERCO</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We </font><font style="font-family:'Times New Roman'; font-size:12pt">believe we </font><font style="font-family:'Times New Roman'; font-size:12pt">are North America&#8217;s largest &#8220;do-it-yourself&#8221; moving and storage operator through our subsidiary U-Haul International, Inc. (&#8220;U-Haul&#8221;). U-Haul is synonymous with &#8220;do-it-yourself&#8221; moving and storage and is a leader in supplying products and services to help </font><font style="font-family:'Times New Roman'; font-size:12pt">people move and store their household and commercial goods. </font><font style="font-family:'Times New Roman'; font-size:12pt">Our primary</font><font style="font-family:'Times New Roman'; font-size:12pt"> service objective is to provide a better and better product or service to more and more people at a lower and lower cost</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We were founded in 1945 as a sole proprietorship under the nam</font><font style="font-family:'Times New Roman'; font-size:12pt">e &#8220;U-Haul Trailer Rental Company&#8221; 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 </font><font style="font-family:'Times New Roman'; font-size:12pt">store</font><font style="font-family:'Times New Roman'; font-size:12pt">s, through which we rent our trucks and trailers, self-storage rooms</font><font style="font-family:'Times New Roman'; font-size:12pt"> and portable moving and storage units</font><font style="font-family:'Times New Roman'; font-size:12pt"> and sell moving and self-storage products and services to complement our independent dealer network.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:14.4pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We rent our distinctive orange and white U-Haul trucks and trailers as well as offer self-storage rooms through a network of </font><font style="font-family:'Times New Roman'; font-size:12pt">approximately</font><font style="font-family:'Times New Roman'; font-size:12pt"> 1,</font><font style="font-family:'Times New Roman'; font-size:12pt">70</font><font style="font-family:'Times New Roman'; font-size:12pt">0 Company operated retail moving </font><font style="font-family:'Times New Roman'; font-size:12pt">store</font><font style="font-family:'Times New Roman'; font-size:12pt">s and </font><font style="font-family:'Times New Roman'; font-size:12pt">approximately </font><font style="font-family:'Times New Roman'; font-size:12pt">1</font><font style="font-family:'Times New Roman'; font-size:12pt">9</font><font style="font-family:'Times New Roman'; font-size:12pt">,</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font><font style="font-family:'Times New Roman'; font-size:12pt">00 independent U-Haul dealers.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#160; </font><font style="font-family:'Times New Roman'; font-size:12pt">We also sell U-Haul</font><font style="font-family:'Times New Roman'; font-size:12pt"> brand boxes, tape and other moving and self-storage products and services to &#8220;do-it-yourself&#8221; moving and storage customers at all of our distribution outlets and through our</font><font style="font-family:'Times New Roman'; font-size:12pt"> uhaul.com and</font><font style="font-family:'Times New Roman'; font-size:12pt"> eMove website.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#160; </font><font style="font-family:'Times New Roman'; font-size:12pt">Another extension of our strategy to make &#8220;do-it-yo</font><font style="font-family:'Times New Roman'; font-size:12pt">urself&#8221; moving and storage easier is our U-Box</font><font style="font-family:'Times New Roman'; font-size:8pt; vertical-align:super">&#174;</font><font style="font-family:'Times New Roman'; font-size:12pt"> program.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> A</font><font style="font-family:'Times New Roman'; font-size:12pt"> U-Box portable moving and storage unit</font><font style="font-family:'Times New Roman'; font-size:12pt"> is delivered to a location of our customer&#8217;s choosing either by the customers themselves through the use of a U-Box trailer or by</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">Company personnel. Once the</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">U-Box portable moving and storage unit</font><font style="font-family:'Times New Roman'; font-size:12pt"> is filled, it can be stored at the customer&#8217;s location, or taken to any of our </font><font style="font-family:'Times New Roman'; font-size:12pt">C</font><font style="font-family:'Times New Roman'; font-size:12pt">ompany operated locations, a participating independent dealer, or moved to a location of the customer&#8217;s choice.</font><a name="EDGAR_PAGE_END8"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">4</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START9"></a><font style="font-family:'Times New Roman'; font-size:12pt">We believe U-Haul is the</font><font style="font-family:'Times New Roman'; font-size:12pt"> most convenient supplier of products and services addressing the needs of North America&#8217;s &#8220;do-it-yourself&#8221; moving and storage market. Our broad geographic coverage throughout the United States and Canada and our extensive selection of U-Haul brand moving </font><font style="font-family:'Times New Roman'; font-size:12pt">equipment rentals, self-storage rooms</font><font style="font-family:'Times New Roman'; font-size:12pt">, portable moving and storage units</font><font style="font-family:'Times New Roman'; font-size:12pt"> and related moving and storage products and services provide our customers with convenient &#8220;one-stop&#8221; shopping.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Through </font><font style="font-family:'Times New Roman'; font-size:12pt">Repwest</font><font style="font-family:'Times New Roman'; font-size:12pt"> Insurance Company</font><font style="font-family:'Times New Roman'; font-size:12pt"> (&#8220;Repwest&#8221;) and ARCOA Risk Retention </font><font style="font-family:'Times New Roman'; font-size:12pt">Group (&#8220;ARCOA&#8221;)</font><font style="font-family:'Times New Roman'; font-size:12pt">, our property and casualty insurance subsidiar</font><font style="font-family:'Times New Roman'; font-size:12pt">ies</font><font style="font-family:'Times New Roman'; font-size:12pt">, we manage the property, liability and related insurance claims processing for U-Haul. Oxford Life Insurance Company </font><font style="font-family:'Times New Roman'; font-size:12pt">(&#8220;</font><font style="font-family:'Times New Roman'; font-size:12pt">Oxford</font><font style="font-family:'Times New Roman'; font-size:12pt">&#8221;),</font><font style="font-family:'Times New Roman'; font-size:12pt"> our life insurance subsidiary</font><font style="font-family:'Times New Roman'; font-size:12pt">,</font><font style="font-family:'Times New Roman'; font-size:12pt"> sells Medicare supplement</font><font style="font-family:'Times New Roman'; font-size:12pt"> insu</font><font style="font-family:'Times New Roman'; font-size:12pt">rance</font><font style="font-family:'Times New Roman'; font-size:12pt">, life insurance, annuities an</font><font style="font-family:'Times New Roman'; font-size:12pt">d other related products to the senior market</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We are a publicly traded Nevada corporation.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Our common stock is listed on the NASDAQ Global Select Market under the symbol &#8220;UHAL.&#8221;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Our principal executive offices are loca</font><font style="font-family:'Times New Roman'; font-size:12pt">ted at </font><font style="font-family:'Times New Roman'; font-size:12pt">5555 Kietzke Lane</font><font style="font-family:'Times New Roman'; font-size:12pt">, Suite 100, Reno, Nevada 895</font><font style="font-family:'Times New Roman'; font-size:12pt">11</font><font style="font-family:'Times New Roman'; font-size:12pt">. Our telephone number is (775) 688-6300, and our website address is </font><font style="font-family:'Times New Roman'; font-size:12pt">amerco.com</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Information contained in or linked to our website is not a part of this prospectus.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">You can get more information regar</font><font style="font-family:'Times New Roman'; font-size:12pt">ding our business by reading our most recent Annual Report on Form 10-K and the other reports and information that we file with the SEC.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">See &#8220;Where You Can Find More Information.&#8221;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">RISK FACTORS </font></p>
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            <p style="margin:0pt 0pt 12pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Before making an investment decision, you should carefully </font><font style="font-family:'Times New Roman'; font-size:12pt">consider the risks described under &#8220;Risk Factors&#8221; in the applicable prospectus supplement, together with all of the other information appearing in this prospectus or incorporated by reference into this prospectus and any applicable prospectus supplement, i</font><font style="font-family:'Times New Roman'; font-size:12pt">n light of your particular investment objectives and financial circumstances. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. This prospectus and the incorporated documents also conta</font><font style="font-family:'Times New Roman'; font-size:12pt">in forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks mentioned elsewhere in this prospe</font><font style="font-family:'Times New Roman'; font-size:12pt">ctus.</font><a name="EDGAR_PAGE_END9"></a></p>
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            <p style="margin:0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START10"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></p>
            <p style="margin:0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">This prospectus contains &#8220;forward-looking statements&#8221; regarding future events and our future results of operations. We may make additional written or oral forward-looking statements from time to time in fili</font><font style="font-family:'Times New Roman'; font-size:12pt">ngs with the SEC or otherwise. We believe such forward-looking statements are within the meaning of the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Such statements may include, but a</font><font style="font-family:'Times New Roman'; font-size:12pt">re not limited to, estimates of capital expenditures, plans for future operations, products or services, financing needs and plans, our perceptions of our legal positions and pending litigation against us, the adequacy of our liquidity, our goals and strat</font><font style="font-family:'Times New Roman'; font-size:12pt">egies, and plans for new business, our access to capital and leasing markets, the impact of our compliance with environmental laws and cleanup costs, projections of capital expenditures and our used vehicle disposition strategy, the sources and availabilit</font><font style="font-family:'Times New Roman'; font-size:12pt">y of funds for our rental equipment and self-storage expansion and replacement strategies and plans, our plan to expand our U-Haul storage affiliate program, that additional leverage can be supported by our operations and business, the availability of alte</font><font style="font-family:'Times New Roman'; font-size:12pt">rnative vehicle manufacturers, our estimates of the residual values of our equipment fleet, our plans with respect to off-balance sheet arrangements, our plans to continue to invest in the U-Box program, the impact of interest rate and foreign currency exc</font><font style="font-family:'Times New Roman'; font-size:12pt">hange rate changes on our operations, the benefits of our cap</font><font style="font-family:'Times New Roman'; font-size:12pt">i</font><font style="font-family:'Times New Roman'; font-size:12pt">tal structure, the sufficiency of our capital resources and the sufficiency of capital of our insurance subsidiaries as well as assumptions relating to the foregoing. The words &#8220;believe,&#8221; &#8220;expec</font><font style="font-family:'Times New Roman'; font-size:12pt">t,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;project&#8221; and similar expressions identify forward-looking statements, which speak only as of the date the statement was made.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Forward-looking statements are inherently subject to risks and unc</font><font style="font-family:'Times New Roman'; font-size:12pt">ertainties, some of which cannot be predicted or quantified. Factors that could significantly affect results include, without limitation, the degree and nature of our competition; our leverage; general economic conditions; fluctuations in our costs to main</font><font style="font-family:'Times New Roman'; font-size:12pt">tain and update our fleet and facilities; the limited number of manufacturers that supply our rental trucks; our ability to effectively hedge our variable interest rate debt; that </font><font style="font-family:'Times New Roman'; font-size:12pt">a substantial amout of our shares are owned</font><font style="font-family:'Times New Roman'; font-size:12pt"> by a small contingent of stockho</font><font style="font-family:'Times New Roman'; font-size:12pt">lders; risks relating to our notes receivable from SAC Holding; fluctuations in quarterly results and seasonality; changes in, and our compliance with, government regulations, particularly environmental regulations and regulations relating to motor carrier</font><font style="font-family:'Times New Roman'; font-size:12pt"> operations; our reliance on our third party dealer network; liability claims relating to our rental vehicles and equipment; our ability to attract, motivate and retain key employees; reliance on our automated systems and the internet; our insurance financ</font><font style="font-family:'Times New Roman'; font-size:12pt">ial strength ratings; our ability to recover under reinsurance arrangements and other factors described in Item 1A, Risk Factors in our</font><font style="font-family:'Times New Roman'; font-size:12pt"> most recent</font><font style="font-family:'Times New Roman'; font-size:12pt"> Annual Report on Form 10-K</font><font style="font-family:'Times New Roman'; font-size:12pt">,</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">our</font><font style="font-family:'Times New Roman'; font-size:12pt"> Quarterly Report</font><font style="font-family:'Times New Roman'; font-size:12pt"> on Form 10-Q</font><font style="font-family:'Times New Roman'; font-size:12pt"> or the other documents we file with the SEC. T</font><font style="font-family:'Times New Roman'; font-size:12pt">he above factors, the following disclosures, as well as other statements in this prospectus and in the notes to our consolidated financial statements, could contribute to or cause such</font><font style="font-family:'Times New Roman'; font-size:12pt"> risks or uncertainties, or could cause our stock price to fluctuate dra</font><font style="font-family:'Times New Roman'; font-size:12pt">matically. Consequently, the forward-looking statements should not be regarded as representations or warranties by the Company that such matters will be realized. The Company assumes no obligation to update or revise any of the forward-looking statements, </font><font style="font-family:'Times New Roman'; font-size:12pt">whether in response to new information, unforeseen events, changed circumstances or otherwise</font><font style="font-family:'Times New Roman'; font-size:12pt">, except as required by law</font><font style="font-family:'Times New Roman'; font-size:12pt">. </font><a name="EDGAR_PAGE_END10"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">6</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START11"></a><font style="font-family:'Times New Roman'; font-size:12pt">You should carefully consider the trends, risks and uncertainties described in the &#8220;Risk Factors&#8221; section of this prospectus and </font><font style="font-family:'Times New Roman'; font-size:12pt">other information in this prospectus and reports filed with the SEC before making any investment decision with respect to the notes. If any of the trends, risks or uncertainties set forth in the &#8220;Risk Factors&#8221; section of this prospectus actually occurs or </font><font style="font-family:'Times New Roman'; font-size:12pt">continues, our business, financial condition or operating results could be materially adversely affected. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary stateme</font><font style="font-family:'Times New Roman'; font-size:12pt">nt.</font></p>
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            <p style="margin:0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">DESCRIPTION OF SECURITIES</font></p>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We may offer shares of our common stock and preferred stock and various series of debt securities from time to time under this prospectus at prices and on terms to be determined by market conditions at the time of offering.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#160; Each time we offer a type or series of securities, we will provide a prospectus supplement that will describe the specific amounts, prices and other important terms of such securities.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The debt securities will be unsecured or secured by certain assets o</font><font style="font-family:'Times New Roman'; font-size:12pt">wned by us or certain of our subsidiaries or third parties.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">A prospectus supplement will describe the specific types, amounts, prices and detailed terms of any of these securities.</font></p>
            <p style="margin:0pt; text-align:center; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">USE OF PROCEEDS</font></p>
            <p style="margin:0pt; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">We will retain broad discretion over the use of the net pr</font><font style="font-family:'Times New Roman'; font-size:12pt">oceeds from the sale of our securities offered hereby.&#160; Except as described in any prospectus supplement, we currently anticipate using the net proceeds from the sale of our securities offered hereby primarily for general corporate purposes.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Pending the u</font><font style="font-family:'Times New Roman'; font-size:12pt">se of the net proceeds, we may invest the net proceeds in short-term marketable securities.</font></p>
            <p style="margin:12pt 0pt 3pt 18pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">RATIO OF EARNINGS TO FIXED CHARGES</font></p>
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            <p style="margin:0pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">Set forth below is our ratio of earnings to fixed charges for the six months ended September 30, 201</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">6</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal"> and for each year in the five year period ended March 31, 201</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">6</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">.&#160; Earnings consist of earnings before interest expense and lease expense.&#160; Fixed charges consist of interest expense and an estimate of the portion of lease expense related to the interest com</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">ponent. </font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">September 30, 201</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">6</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">201</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">6</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">201</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">5</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">2014</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">2013</font></p>
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                        <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:0.75pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:top">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">2012</font></p>
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                        <td style="background-color:#daeef3; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">8.7</font><font style="font-family:'Times New Roman'; font-size:12pt">x</font></p>
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                        <td style="background-color:#daeef3; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">7.3</font><font style="font-family:'Times New Roman'; font-size:12pt">x</font></p>
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                        <td style="background-color:#daeef3; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">5.4</font><font style="font-family:'Times New Roman'; font-size:12pt">x</font></p>
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                        <td style="background-color:#daeef3; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">5.2</font><font style="font-family:'Times New Roman'; font-size:12pt">x</font></p>
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                        <td style="background-color:#daeef3; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">4.1x</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">3.4x</font></p>
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                        <td style="width:56.9pt; border:none">
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                        <td style="width:52.15pt; border:none">
                        </td>
                        <td style="width:47.4pt; border:none">
                        </td>
                        <td style="width:61.65pt; border:none">
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                        <td style="width:61.65pt; border:none">
                        </td>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">Since we had no preferred stock outstanding during any of the periods presented, the ratios of earnings to fixed charges and the </font><font style="font-family:'Times New Roman'; font-size:12pt">ratios of earnings to combined fixed charges and preferred dividends are the same.</font></p>
            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_END11"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">7</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START12"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">PLAN OF DISTRIBUTION</font></p>
            <p style="margin:0pt; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">We may sell the securities covered by this prospectus from time to time in one or more offerings.&#160; Registration of the securities covered by this </font><font style="font-family:'Times New Roman'; font-size:12pt">prospectus does not mean, however, that those securities will necessarily be offered or sold.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We may sell the sec</font><font style="font-family:'Times New Roman'; font-size:12pt">urities separately or together:</font></p>
            <ul type="disc" style="margin:0pt; padding-left:0pt">
                <li style="margin:0pt 0pt 0pt 64.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">through one or more underwriters or dealers in a public offering and sale by them;</font></li>
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            <p style="margin:0pt 0pt 0pt 72pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <ul type="disc" style="margin:0pt; padding-left:0pt">
                <li style="margin:0pt 0pt 0pt 64.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">through agents; or</font></li>
            </ul>
            <p style="margin:0pt 0pt 0pt 72pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <ul type="disc" style="margin:0pt; padding-left:0pt">
                <li style="margin:0pt 0pt 0pt 64.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">directly to investors.</font></li>
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            <p style="margin:0pt 0pt 0pt 72pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We will set forth the terms of the offering of any securities being offered in the applicable prospectus supplement.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">If we utilize underwriters in an offering of securities using this prospectus, we will execute an underwriting agre</font><font style="font-family:'Times New Roman'; font-size:12pt">ement with those underwriters.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The underwriting agreement will provide that the obligations of the underwriters with respect to a sale of the offered securities are subject to certain conditions precedent and that the underwriters will be obligated to pur</font><font style="font-family:'Times New Roman'; font-size:12pt">chase all the offered securities if any are purchased.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Underwriters may sell those securities to or through dealers.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The underwriters may change any initial public offering price and any discounts or concessions allowed or re</font><font style="font-family:'Times New Roman'; font-size:12pt">-</font><font style="font-family:'Times New Roman'; font-size:12pt">allowed or paid to dealers f</font><font style="font-family:'Times New Roman'; font-size:12pt">rom time to time.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">If we utilize underwriters in an offering of securities using this prospectus, the applicable prospectus supplement will contain a statement regarding the intention, if any, of the underwriters to make a market in the offered securities.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">If we utilize a dealer in an offering of securities using this prospectus, we will sell the offered securities to the dealer, as principal.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The dealer may then resell those securities to the public at a fixed price or at varying prices to be determined </font><font style="font-family:'Times New Roman'; font-size:12pt">by the dealer at the time of resale.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We may also use this prospectus to offer and sell securities through agents designated by us from time to time.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Unless otherwise indicated in the prospectus supplement, any agent will be acting on a reasonable efforts </font><font style="font-family:'Times New Roman'; font-size:12pt">basis for the period of its appointment.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We may offer to sell securities either at a fixed price or at prices that may be changed, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">We m</font><font style="font-family:'Times New Roman'; font-size:12pt">ay also use this prospectus to directly solicit offers to purchase securities.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Except as set forth in the applicable prospectus supplement, none of our directors, officers, or employees nor those of our subsidiaries will solicit or receive a commission in</font><font style="font-family:'Times New Roman'; font-size:12pt"> connection with those direct sales.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Those persons may respond to inquiries by potential purchasers and perform ministerial and clerical work in connection with direct sales.</font><a name="EDGAR_PAGE_END12"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">8</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START13"></a><font style="font-family:'Times New Roman'; font-size:12pt">We may authorize underwriters, dealers and agents to solicit offers by certain i</font><font style="font-family:'Times New Roman'; font-size:12pt">nstitutions to purchase securities pursuant to delayed delivery contracts providing for payment and delivery on a future date specified in the prospectus supplement.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Institutions with which delayed delivery contracts may be made include commercial and sav</font><font style="font-family:'Times New Roman'; font-size:12pt">ings banks, insurance companies, educational and charitable institutions and other institutions that we may approve.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The obligations of any purchaser under any delayed delivery contract will not be subject to any conditions except that any related sale of</font><font style="font-family:'Times New Roman'; font-size:12pt"> offered securities to underwriters shall have occurred and the purchase by an institution of the securities covered by its delayed delivery contract shall not at the time of delivery be prohibited under the laws of any jurisdiction in the United States to</font><font style="font-family:'Times New Roman'; font-size:12pt"> which that institution is subject.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Underwriters, dealers or agents participating in a distribution of securities by use of this prospectus and an applicable prospectus supplement may be deemed to be underwriters, and any discounts and commissions received</font><font style="font-family:'Times New Roman'; font-size:12pt"> by them and any profit realized by them on resale of the offered securities, whether received from us or from purchasers of offered securities for whom they act as agent, may be deemed to be underwriting discounts and commissions under the Securities Act.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Under agreements that we may enter into, underwriters, dealers or agents who participate in the distribution of securities by use of this prospectus and an applicable prospectus supplement may be entitled to indemnification by us against certain liabiliti</font><font style="font-family:'Times New Roman'; font-size:12pt">es, including liabilities under the Securities Act, or to contribution with respect to payments that those underwriters, dealers or agents may be required to make.</font></p>
            <p style="margin:0pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Underwriters, dealers, agents or their affiliates may be customers of, engage in transaction</font><font style="font-family:'Times New Roman'; font-size:12pt">s with, or perform services for, us and our subsidiaries in the ordinary course of business, for which they have received or will receive customary compens</font><font style="font-family:'Times New Roman'; font-size:12pt">ation.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">LEGAL MATTERS</font></p>
            <p style="margin:0pt; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">Certain legal matters will be passed upon for us by DLA Piper LLP (US).</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">If </font><font style="font-family:'Times New Roman'; font-size:12pt">counsel for any underwriter, dealer or agent passes on legal matters in connection with an offering made by this prospectus, we will name that counsel in the prospectus supplement relating to the offering.</font></p>
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            <p style="margin:0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">EXPERTS</font></p>
            <p style="margin:0pt; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:12pt">The consolidated financial statements </font><font style="font-family:'Times New Roman'; font-size:12pt">and schedules of AMERCO and consolidated subsidiaries as of March 31, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt"> and </font><font style="font-family:'Times New Roman'; font-size:12pt">2015</font><font style="font-family:'Times New Roman'; font-size:12pt"> and for each of the three years in the period ended March 31, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt">, and the effectiveness of AMERCO&#8217;s internal control over financial reporting as of March 31, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt">, appear</font><font style="font-family:'Times New Roman'; font-size:12pt">ing in AMERCO&#8217;s Annual Report on Form 10-K for the year ended March 31, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt">, incorporated by reference in this Form S-3 have been so incorporated in reliance on the report of BDO </font><font style="font-family:'Times New Roman'; font-size:12pt">USA</font><font style="font-family:'Times New Roman'; font-size:12pt">, LLP, an independent registered public accounting firm, incorporated her</font><font style="font-family:'Times New Roman'; font-size:12pt">ein by reference, given on the authority of said firm as experts in auditing and accounting.</font></p>
            <p style="margin:0pt; text-indent:36pt"><a name="EDGAR_PAGE_END13"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">9</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START14"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify; page-break-inside:avoid; page-break-after:avoid; widows:0; orphans:0"><font style="font-family:'Times New Roman'; font-size:12pt">We file reports and other information with the SEC under the Exchange Act.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">You may read and copy</font><font style="font-family:'Times New Roman'; font-size:12pt">, at prescrib</font><font style="font-family:'Times New Roman'; font-size:12pt">ed rates,</font><font style="font-family:'Times New Roman'; font-size:12pt"> any document we file at the SEC&#8217;s </font><font style="font-family:'Times New Roman'; font-size:12pt">P</font><font style="font-family:'Times New Roman'; font-size:12pt">ublic </font><font style="font-family:'Times New Roman'; font-size:12pt">R</font><font style="font-family:'Times New Roman'; font-size:12pt">eference </font><font style="font-family:'Times New Roman'; font-size:12pt">R</font><font style="font-family:'Times New Roman'; font-size:12pt">oom at 100</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">F</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Street, N.E., Washington, D.C. 20549.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Please call the SEC at </font><font style="font-family:'Times New Roman'; font-size:12pt">(</font><font style="font-family:'Times New Roman'; font-size:12pt">800</font><font style="font-family:'Times New Roman'; font-size:12pt">)</font><font style="font-family:'Times New Roman'; font-size:12pt">-SEC-0330 for further information on the operation of the </font><font style="font-family:'Times New Roman'; font-size:12pt">P</font><font style="font-family:'Times New Roman'; font-size:12pt">ublic </font><font style="font-family:'Times New Roman'; font-size:12pt">R</font><font style="font-family:'Times New Roman'; font-size:12pt">eference </font><font style="font-family:'Times New Roman'; font-size:12pt">R</font><font style="font-family:'Times New Roman'; font-size:12pt">oom.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Our SEC filings also are </font><font style="font-family:'Times New Roman'; font-size:12pt">available on the SEC&#8217;s website at</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">sec.gov</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We have filed with the SEC a registration statement on Form S-3 to register the securities offered hereby.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">This prospectus is a part of that registration statement.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">As allowed by SEC rules, this prospectus d</font><font style="font-family:'Times New Roman'; font-size:12pt">oes not contain all of the information that is in the registration statement and the exhibits to the registration statement.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">For further information about AMERCO, investors should refer to the registration statement and its exhibits.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">The registration sta</font><font style="font-family:'Times New Roman'; font-size:12pt">tement is available at the SEC&#8217;s public reference room or website as described above.</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We &#8220;incorporate by reference&#8221; information into this prospectus, which means that we are disclosing important information to you by referring you to other documents file</font><font style="font-family:'Times New Roman'; font-size:12pt">d separately with the SEC.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">These documents contain important information about AMERCO and are an important part of this prospectus.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">We incorporate by reference in this prospectus the documents listed below:</font></p>
            <ul type="disc" style="margin:0pt; padding-left:0pt">
                <li style="margin:0pt 0pt 6pt 46.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">our Annual Report on Form 10-K for the fiscal y</font><font style="font-family:'Times New Roman'; font-size:12pt">ear ended March 31, 2016;</font></li>
                <li style="margin:0pt 0pt 6pt 46.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">our Quarterly Reports on Form 10-Q for the fiscal quarters ended June 30, 2016 and September 30, 2016;</font></li>
                <li style="margin:0pt 0pt 6pt 46.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">those portions of our definitive proxy statement on Schedule 14A dated July 15, 2016, incorporated by reference in our Annual </font><font style="font-family:'Times New Roman'; font-size:12pt">Report on Form 10-K for the year ended March 31, 2016;</font></li>
                <li style="margin:0pt 0pt 6pt 46.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">our current reports on Form 8-K filed on February 3, 2016, March 15, 2016, May 3, 2016, June 9, 2016, June 27, 2016, July 13, 2016, August 30, 2016, September 13, 2016 and October 11, 2016;</font></li>
                <li style="margin:0pt 0pt 6pt 46.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">the descrip</font><font style="font-family:'Times New Roman'; font-size:12pt">tion of AMERCO&#8217;s common stock set forth in our registration statements filed pursuant to Section 12 of the Exchange Act, and any amendment or report filed for the purpose of updating those descriptions; and</font></li>
                <li style="margin:0pt 0pt 6pt 46.52pt; text-indent:0pt; text-align:justify; padding-left:7.48pt; font-family:serif; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">all documents filed by us under Sections 13(a), 1</font><font style="font-family:'Times New Roman'; font-size:12pt">3(c), 14 or 15(d) of the Exchange Act between the date of this prospectus and the termination of any offering made under this prospectus and the prospectus supplement or supplements that will accompany any offering of securities hereunder.</font></li>
            </ul>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Unless expressly</font><font style="font-family:'Times New Roman'; font-size:12pt"> incorporated by reference, nothing in this prospectus shall be deemed to incorporate by reference information furnished, but not filed, with the SEC.</font><a name="EDGAR_PAGE_END14"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">10</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <br>
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            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START15"></a><font style="font-family:'Times New Roman'; font-size:12pt">Any statement contained in a document incorporated or deemed to be incorporated by reference into this pr</font><font style="font-family:'Times New Roman'; font-size:12pt">ospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or in the applicable prospectus supplement or in any other subsequently filed document that also is or is deeme</font><font style="font-family:'Times New Roman'; font-size:12pt">d to be incorporated by reference into this prospectus, modifies or supersedes that statement.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">Any statement that is so modified or superseded will not constitute a part of this prospectus, except as modified or superseded.</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">You may obtain any of the docum</font><font style="font-family:'Times New Roman'; font-size:12pt">ents incorporated by reference in this prospectus from the SEC through the SEC&#8217;s website at the address provided </font><font style="font-family:'Times New Roman'; font-size:12pt">on the previous page</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">You also may request a copy of any document incorporated by reference in this prospectus (excluding any exhibits to thos</font><font style="font-family:'Times New Roman'; font-size:12pt">e documents, unless the exhibit is specifically incorporated by reference in this document), at no cost.&#160; Requests should be directed to Laurence De Respino, General Counsel, AMERCO, c/o U-Haul International, Inc., 2727 N. Central Avenue, Phoenix, AZ&#160; 8500</font><font style="font-family:'Times New Roman'; font-size:12pt">4, telephone, (602) 263-6977.</font></p>
            <p style="margin:0pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We&#160; own the registered trademarks or service marks &#8220;U-Haul&#174;&#8221;, &#8220;AMERCO&#174;&#8221;, &#8220;In-</font><font style="font-family:'Times New Roman'; font-size:12pt">Town&#174;&#8221;, &#8220;eMove&#174;&#8221;, &#8220;C.A.R.D.&#174;&#8221;, </font><font style="font-family:'Times New Roman'; font-size:12pt">&#8220;Safemove&#174;&#8221;, &#8220;WebSelfStorage&#174;&#8221;, &#8220;webselfstorage.com(SM)&#8221;,</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">&#8220;uhaul.com&#174;&#8221;, &#8220;Lowest Decks(SM)&#8221;, &#8220;Gentle Ride Suspension(SM</font><font style="font-family:'Times New Roman'; font-size:12pt">)&#8221;, &#8220;Mom&#8217;s Attic&#174;&#8221;, &#8220;U-Box&#174;&#8221;, &#8220;Moving Help&#174;&#8221;, &#8220;Safestor&#174;&#8221;,</font><font style="font-family:'Times New Roman'; font-size:12pt"> &#8220;Safetow</font><font style="font-family:'Times New Roman'; font-size:12pt">&#174;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#8221;, &#8220;Safemove Plus&#8482;&#8221;,</font><font style="font-family:'Times New Roman'; font-size:12pt"> &#8220;U-Haul Investors Club</font><font style="font-family:'Times New Roman'; font-size:12pt">&#174;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#8221;, &#8220;uhaulinvestorsclub.com(SM)&#8221;, &#8220;U-Note</font><font style="font-family:'Times New Roman'; font-size:12pt">&#174;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#8221;, among others, for use in connection with the moving and storage business.&#160; This prospectus also incl</font><font style="font-family:'Times New Roman'; font-size:12pt">udes product name and other trade names and service marks owned by AMERCO or its affiliates.&#160; </font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">WHERE YOU CAN FIND MORE INFORMATION</font></p>
            <p style="margin:0pt; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 6pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">We are subject to the informational requirements of the </font><font style="font-family:'Times New Roman'; font-size:12pt">Exchange</font><font style="font-family:'Times New Roman'; font-size:12pt"> Act and in accordance therewith file reports, proxy statements and other information with the </font><font style="font-family:'Times New Roman'; font-size:12pt">SEC</font><font style="font-family:'Times New Roman'; font-size:12pt">.&#160; Our filings are available to the public over the Internet at the </font><font style="font-family:'Times New Roman'; font-size:12pt">SEC</font><font style="font-family:'Times New Roman'; font-size:12pt">&#8217;s website at </font><font style="font-family:'Times New Roman'; font-size:12pt">sec.gov</font><font style="font-family:'Times New Roman'; font-size:12pt">, as well as at our website at </font><font style="font-family:'Times New Roman'; font-size:12pt">amerco.com</font><font style="font-family:'Times New Roman'; font-size:12pt">.&#160; You may also read and </font><font style="font-family:'Times New Roman'; font-size:12pt">copy, at prescribed rates, any document we file </font><font style="font-family:'Times New Roman'; font-size:12pt">at</font><font style="font-family:'Times New Roman'; font-size:12pt"> the </font><font style="font-family:'Times New Roman'; font-size:12pt">SEC&#8217;s</font><font style="font-family:'Times New Roman'; font-size:12pt"> Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549.&#160; Please call the </font><font style="font-family:'Times New Roman'; font-size:12pt">SEC</font><font style="font-family:'Times New Roman'; font-size:12pt"> at (800)</font><font style="font-family:'Times New Roman'; font-size:12pt">-</font><font style="font-family:'Times New Roman'; font-size:12pt">SEC-0330 for further information on the </font><font style="font-family:'Times New Roman'; font-size:12pt">operation of the SEC</font><font style="font-family:'Times New Roman'; font-size:12pt">&#8217;s Public Reference Room.</font></p>
            <p style="margin:0pt"><a name="EDGAR_PAGE_END15"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">11</font><a name="EDGAR_HF_F_END_2"></a></p>
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START16"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">PART II</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">INFORMATION NOT REQUIRED IN PROSPECTUS</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 14. Other Expenses of Issuance and Distribution.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt 0pt 10pt; text-indent:18pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">The following table sets forth the estimated </font><font style="font-family:'Times New Roman'; font-size:12pt">expenses in connection with the issuance and distribution of the securities registered hereby, which will be borne by the registrant</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Securities and Exchange Commission registration fee</font></p>
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                    <td style="background-color:#b6dde8; vertical-align:bottom; width:0.64%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:1.28%">
                        <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">$</font></p>
                    </td>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:10.26%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:3%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(1)</font></p>
                    </td>
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                <tr>
                    <td style="vertical-align:bottom; width:84.82%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Legal fees and expenses</font></p>
                    </td>
                    <td style="vertical-align:bottom; width:0.64%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="vertical-align:bottom; width:1.28%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="vertical-align:bottom; width:10.26%">
                        <p style="margin:0pt 0pt 10pt; text-align:right; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="vertical-align:bottom; width:3%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">)</font></p>
                    </td>
                </tr>
                <tr>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:84.82%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Accounting fees and </font><font style="font-family:'Times New Roman'; font-size:12pt">expenses</font></p>
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                    <td style="background-color:#b6dde8; vertical-align:bottom; width:0.64%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:1.28%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:10.26%">
                        <p style="margin:0pt 0pt 10pt; text-align:right; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="background-color:#b6dde8; vertical-align:bottom; width:3%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">)</font></p>
                    </td>
                </tr>
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                    <td style="padding-bottom:1.5pt; vertical-align:bottom; width:84.82%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Miscellaneous</font></p>
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                    <td style="padding-bottom:1.5pt; vertical-align:bottom; width:0.64%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1.5pt; vertical-align:bottom; width:1.28%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1.5pt; vertical-align:bottom; width:10.26%">
                        <p style="margin:0pt 0pt 10pt; text-align:right; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-bottom:1.5pt; vertical-align:bottom; width:3%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">)</font></p>
                    </td>
                </tr>
                <tr>
                    <td style="background-color:#b6dde8; padding-bottom:3pt; vertical-align:bottom; width:84.82%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Total</font></p>
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                    <td style="background-color:#b6dde8; padding-bottom:3pt; vertical-align:bottom; width:0.64%">
                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                        <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">$</font></p>
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                        <p style="margin:0pt 0pt 10pt; text-align:right; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">)</font></p>
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            <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">________________________</font></p>
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                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(1)</font></p>
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                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Deferred in accordance with Rule 456(b) and 457(r) of the Securities Act.</font></p>
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                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">(2)</font></p>
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                        <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">These fees and expenses depend on the securities offered and the number of issuances</font><font style="font-family:'Times New Roman'; font-size:12pt"> and accordingly are not presently known and cannot be estimated at this time.</font></p>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 15. Indemnification of Directors and Officers.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">The Nevada General Corporation Law requires AMERCO to indemnify officers and directors for any expenses incurred by any off</font><font style="font-family:'Times New Roman'; font-size:12pt">icer or director in connection with any actions or proceedings, whether civil, criminal, administrative, or investigative, brought against such officer or director because of his or her status as an officer or director, to the extent that the director or o</font><font style="font-family:'Times New Roman'; font-size:12pt">fficer has been successful on the merits or otherwise in defense of the action or proceeding. The Nevada General Corporation Law permits a corporation to indemnify an officer or director, even in the absence of an agreement to do so, for expenses incurred </font><font style="font-family:'Times New Roman'; font-size:12pt">in connection with any action or proceeding if such officer or director acted in good faith and in a manner in which he or she reasonably believed to be in or not opposed to the best interests of the corporation and such indemnification is authorized by th</font><font style="font-family:'Times New Roman'; font-size:12pt">e stockholders, by a quorum of disinterested directors, by independent legal counsel in a written opinion authorized by a majority vote of a quorum of directors consisting of disinterested directors, or by independent legal counsel in a written opinion if </font><font style="font-family:'Times New Roman'; font-size:12pt">a quorum of disinterested directors cannot be obtained. </font><font style="font-family:'Times New Roman'; font-size:12pt">The Amended and </font><font style="font-family:'Times New Roman'; font-size:12pt">Restated Articles of Incorporation</font><font style="font-family:'Times New Roman'; font-size:12pt"> of AMERCO</font><font style="font-family:'Times New Roman'; font-size:12pt"> eliminate personal liability of directors and officers, to AMERCO or its stockholders, for damages for breach of their fiduciary duties as </font><font style="font-family:'Times New Roman'; font-size:12pt">directors or officers, except for liability (i) for acts or omissions that involve intentional misconduct, fraud, or a knowing violation of law, or (ii) for the unlawful payment of dividends. In addition, </font><font style="font-family:'Times New Roman'; font-size:12pt">the Amended and </font><font style="font-family:'Times New Roman'; font-size:12pt">Restated Articles of Incorporation</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">of AMERCO</font><font style="font-family:'Times New Roman'; font-size:12pt"> provide that AMERCO shall indemnify, to the fullest extent authorized or permitted by law, any person</font><a name="EDGAR_PAGE_END16"></a></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">1</font><a name="EDGAR_HF_F_END_4"></a></p>
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            <p style="margin:0pt; ; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt"> </font><a name="EDGAR_PAGE_START17"></a><font style="font-family:'Times New Roman'; font-size:12pt">made, or threatened to be made, a defendant in any action, suit, or proceeding by reason of the fact that he or she was a director or officer of</font><font style="font-family:'Times New Roman'; font-size:12pt"> AMERCO so long as such person is not liable pursuant to Section 78.138 of the Nevada General Corporation Law or acted in good faith and in a manner in which he or she reasonably believed to be in or not opposed to the best interests of AMERCO, and, with r</font><font style="font-family:'Times New Roman'; font-size:12pt">espect to criminal actions or proceedings, had no reasonable cause to believe the conduct was unlawful. AMERCO has also executed indemnification agreements that provide that certain of AMERCO&#8217;s directors and officers shall be indemnified and held harmless </font><font style="font-family:'Times New Roman'; font-size:12pt">by AMERCO to the fullest extent permitted by applicable law or the Restated Articles of Incorporation or Bylaws of AMERCO. The Nevada General Corporation Law prohibits indemnification of a director or officer if a final adjudication establishes that the of</font><font style="font-family:'Times New Roman'; font-size:12pt">ficer&#8217;s or director&#8217;s acts or omissions involved intentional misconduct, fraud, or a knowing violation of the law and were material to the cause of action. Despite the foregoing limitations on indemnification, the Nevada General Corporation Law may permit </font><font style="font-family:'Times New Roman'; font-size:12pt">an officer or director to apply to the court for approval of indemnification even if the officer or director is adjudged to have committed intentional misconduct, fraud, or a knowing violation of the law. The Nevada General Corporation Law also provides th</font><font style="font-family:'Times New Roman'; font-size:12pt">at indemnification of directors is not permitted for the unlawful payment of distributions, except for those directors registering their dissent to the payment of the distribution.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 16. Exhibits. </font></p>
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            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">The information set forth in the Exhibit Index immedi</font><font style="font-family:'Times New Roman'; font-size:12pt">ately following the signature pages to this Registration Statement in Form S-3 is incorporated by reference into this Item 16. Certain exhibits are incorporated by reference from documents previously filed by the Company with the SEC as required by Item 60</font><font style="font-family:'Times New Roman'; font-size:12pt">1 of RegulationS-K.</font></p>
            <p style="margin:12pt 0pt 0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 17. Undertakings.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:18pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">The undersigned registrant hereby undertakes:</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(i) to include any prospectus </font><font style="font-family:'Times New Roman'; font-size:12pt">required by section 10(a)(3) of the Securities Act of 1933;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(ii) to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or </font><font style="font-family:'Times New Roman'; font-size:12pt">in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not </font><font style="font-family:'Times New Roman'; font-size:12pt">exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b), if, in the aggregate, the changes in volume a</font><font style="font-family:'Times New Roman'; font-size:12pt">nd price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><a name="EDGAR_PAGE_END17"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><a name="EDGAR_PAGE_START18"></a><font style="font-family:'Times New Roman'; font-size:12pt">(iii) to include any material information with respect to the plan of di</font><font style="font-family:'Times New Roman'; font-size:12pt">stribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">provided</font><font style="font-family:'Times New Roman'; font-size:12pt">, </font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">however</font><font style="font-family:'Times New Roman'; font-size:12pt">, that paragraphs (i), (ii) and (iii) above do not apply if the information required to be included</font><font style="font-family:'Times New Roman'; font-size:12pt"> in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the </font><font style="font-family:'Times New Roman'; font-size:12pt">registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(2) that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective ame</font><font style="font-family:'Times New Roman'; font-size:12pt">ndment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(3) to remove from registration by means o</font><font style="font-family:'Times New Roman'; font-size:12pt">f a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(4) that, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(i) each prospectus filed by</font><font style="font-family:'Times New Roman'; font-size:12pt"> the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">(ii) each prospectus required to be filed pursuant to</font><font style="font-family:'Times New Roman'; font-size:12pt"> Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securiti</font><font style="font-family:'Times New Roman'; font-size:12pt">es Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering describe</font><font style="font-family:'Times New Roman'; font-size:12pt">d in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the reg</font><font style="font-family:'Times New Roman'; font-size:12pt">istration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide</font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic"> </font><font style="font-family:'Times New Roman'; font-size:12pt">offering thereof. </font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">Provided, however</font><font style="font-family:'Times New Roman'; font-size:12pt">, that no statement made in a registration statement or prospectus that is</font><font style="font-family:'Times New Roman'; font-size:12pt"> part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prio</font><font style="font-family:'Times New Roman'; font-size:12pt">r to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><a name="EDGAR_PAGE_END18"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">3</font><a name="EDGAR_HF_F_END_4"></a></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START19"></a><font style="font-family:'Times New Roman'; font-size:12pt">(5) that, for the purp</font><font style="font-family:'Times New Roman'; font-size:12pt">ose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pur</font><font style="font-family:'Times New Roman'; font-size:12pt">suant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">any of the following communications, the undersigned registrant wi</font><font style="font-family:'Times New Roman'; font-size:12pt">ll be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(i) any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(ii)</font><font style="font-family:'Times New Roman'; font-size:12pt"> any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(iii) the portion of any other free writing prospectus relating to the offering containing m</font><font style="font-family:'Times New Roman'; font-size:12pt">aterial information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(iv) any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(6) that</font><font style="font-family:'Times New Roman'; font-size:12pt">, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee</font><font style="font-family:'Times New Roman'; font-size:12pt"> benefit plan&#8217;s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, a</font><font style="font-family:'Times New Roman'; font-size:12pt">nd the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>
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            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">(7) </font><font style="font-family:'Times New Roman'; font-size:12pt">that, </font><font style="font-family:'Times New Roman'; font-size:12pt">(i) for purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus </font><font style="font-family:'Times New Roman'; font-size:12pt">filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration state</font><font style="font-family:'Times New Roman'; font-size:12pt">ment as of the time it was declared effective; and</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">(ii) for the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relat</font><font style="font-family:'Times New Roman'; font-size:12pt">ing to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">4</font><a name="EDGAR_HF_F_END_4"></a></p>
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            <p style="margin:0pt; text-indent:18pt; text-align:justify; page-break-inside:avoid; widows:0; orphans:0"><a name="EDGAR_PAGE_START20"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to d</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">irectors, officers and controlling persons of the registrant pursuant to the provisions described under item 15 above, or otherwise, the registrant has been </font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">advised that in the opinion of the Securities and Exchange Commission such indemnification is again</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">st public policy as expressed in the Securities Act of 1933 and is therefore unenforceable.&#160; </font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, office</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">r or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinio</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal">n of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:normal"> the final adjudication of such issue.</font></p>
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START21"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">SIGNATURES</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S</font><font style="font-family:'Times New Roman'; font-size:12pt">-</font><font style="font-family:'Times New Roman'; font-size:12pt">3 and has duly caused this </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement to be signed on its behalf by the undersigned, thereunto duly authorized, in the </font><font style="font-family:'Times New Roman'; font-size:12pt">C</font><font style="font-family:'Times New Roman'; font-size:12pt">ity of Phoenix, </font><font style="font-family:'Times New Roman'; font-size:12pt">S</font><font style="font-family:'Times New Roman'; font-size:12pt">tate of Arizona, on </font><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">By</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">:/s/</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">Edward J. Shoen</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Name:</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> Edward J. Shoen</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Title:</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">&#160; President and Chairman of the Board</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">By:</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline"> Jason A. Berg</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Name:</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> Jason A. Berg</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Title:</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">&#160; Chief Financial Officer</font></p>
                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (Principal Financial Officer)</font></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><a name="EDGAR_HF_F_END_4"></a></p>
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START22"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">POWER OF ATTORNEY</font></p>
            <p style="margin:0pt; text-indent:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">KNOW ALL MEN BY THESE PRESENT</font><font style="font-family:'Times New Roman'; font-size:12pt">, that each person whose signature </font><font style="font-family:'Times New Roman'; font-size:12pt">appears below constitutes and appoints Edward J. Shoen his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments t</font><font style="font-family:'Times New Roman'; font-size:12pt">o this Form S-3, and to file the same, with all exhibits thereto and other documents in connection therewith with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and eve</font><font style="font-family:'Times New Roman'; font-size:12pt">ry act or things requisite and necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substit</font><font style="font-family:'Times New Roman'; font-size:12pt">utes, may lawfully do or cause to be done by virtue hereof.</font></p>
            <p style="margin:0pt; text-indent:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">Pursuant to the requirements of the Securities Act of 1933, as amended, this </font><font style="font-family:'Times New Roman'; font-size:12pt">r</font><font style="font-family:'Times New Roman'; font-size:12pt">egistration </font><font style="font-family:'Times New Roman'; font-size:12pt">s</font><font style="font-family:'Times New Roman'; font-size:12pt">tatement has been signed by the following persons in the capacities and on the dates indicated:</font></p>
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                            <p style="margin:0pt 4.95pt 0pt 0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/ Edward J. Shoen</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">President and Chairman of the Board</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Edward J. Shoen</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">(Principal Executive Officer)</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> Jason A. Berg</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Chief Financial Officer</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Jason A. Berg</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">(Principal Financial Officer)</font></p>
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                            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
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                                    <p style="margin:0pt; text-indent:4.5pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> James E. Acridge</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Director</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">James E. Acridge</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> Charles J. Bayer</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Director</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Charles J. Bayer</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> John P. Brogan</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Director</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">John P. Brogan</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> John M. Dodds</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Director</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">John M. Dodds</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> James J. Grogan</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">James J. Grogan</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> Karl A. Schmidt</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Karl A. Schmidt</font></p>
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                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">/s/</font><font style="font-family:'Times New Roman'; font-size:12pt"> Samuel J. Shoen</font></p>
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                                <td style="padding-bottom:1.2pt; vertical-align:top; width:43.82%">
                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Director</font></p>
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                                    <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">January </font><font style="font-family:'Times New Roman'; font-size:12pt">13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 2017</font></p>
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                                <td style="border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; vertical-align:top; width:34.02%">
                                    <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Samuel J. Shoen</font></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">7</font><a name="EDGAR_HF_F_END_4"></a></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START23"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">EXHIBIT INDEX</font></p>
                <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                                <p style="margin:0pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Number</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Description</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">1.1*</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Form of Underwriting Agreement.</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">3</font><font style="font-family:'Times New Roman'; font-size:12pt">.1</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Amended and </font><font style="font-family:'Times New Roman'; font-size:12pt">Restated Articles of Incorporation of AMERCO (incorporated herein by reference to the Company&#8217;s Current Report on Form 8-K, filed on </font><font style="font-family:'Times New Roman'; font-size:12pt">June 9</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt">, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">3</font><font style="font-family:'Times New Roman'; font-size:12pt">.2</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Restated By-Laws of AMERCO (incorporated herein by reference to the Company&#8217;s Current</font><font style="font-family:'Times New Roman'; font-size:12pt"> Report on Form 8-K, filed on September 5, 2013, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">1</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Termination of Rights Agreement, dated as of March 5, 2008 (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on March 11, 2008, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">U-Haul Investors Club Base Indenture, dated February 12, 2011 by and between AMERCO and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on February 22, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">3</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">First Supple</font><font style="font-family:'Times New Roman'; font-size:12pt">mental Indenture, dated February 17, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on February 22, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">4</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Second Supplemental Indentu</font><font style="font-family:'Times New Roman'; font-size:12pt">re, dated February 17, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on February 22, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Third Supplemental Indenture, dated March</font><font style="font-family:'Times New Roman'; font-size:12pt"> 1, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on March 4, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Fourth Supplemental Indenture, dated March 15, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on March 22, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Fifth Supplemental Indenture, dated March 15, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company a</font><font style="font-family:'Times New Roman'; font-size:12pt">nd U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on March 22, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">8</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Sixth Supplemental Indenture, dated March 29, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank National</font><font style="font-family:'Times New Roman'; font-size:12pt"> Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on April 1, 2011, file no. 1-11255).</font></p>
                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                                <p style="margin:6pt 0pt 0pt; text-align:justify"><a name="EDGAR_PAGE_END23"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">8</font><a name="EDGAR_HF_F_END_4"></a></p>
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                                <p style="margin:0pt; line-height:115%; font-size:12pt"><a name="EDGAR_PAGE_START24"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Exhibit</font></p>
                                <p style="margin:0pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Number</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Description</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">9</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Seventh Supplemental Indenture, dated March 29, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on April 1, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">0</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Eighth Supplemental Indenture, dated April 12, 2011, by and between the Company and U.S</font><font style="font-family:'Times New Roman'; font-size:12pt">. Bank National Association (</font><font style="font-family:'Times New Roman'; font-size:12pt">i</font><font style="font-family:'Times New Roman'; font-size:12pt">ncorporated by reference to the Company&#8217;s Annual Report on Form 10-K for the year end March 31, 2012, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">1</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Ninth Supplemental Indenture, dated April 19, 2011, by and </font><font style="font-family:'Times New Roman'; font-size:12pt">between</font><font style="font-family:'Times New Roman'; font-size:12pt"> the Company and U.S. Bank Nation</font><font style="font-family:'Times New Roman'; font-size:12pt">al Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on April 22, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Tenth Supplemental Indenture, dated June 7, 2011 by</font><font style="font-family:'Times New Roman'; font-size:12pt"> and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on June 23, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">3</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Eleventh Supplemental Indenture dated June 7, 2011 by and between the Compa</font><font style="font-family:'Times New Roman'; font-size:12pt">ny and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on October 31, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">4</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twelfth Supplemental Indenture dated June 14, 2011 by and between the Company and U.S. Bank Na</font><font style="font-family:'Times New Roman'; font-size:12pt">tional Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on June 23, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Thirteenth Supplemental Indenture dated June 28, 2011 by and between the Company and U.S. Bank National Association </font><font style="font-family:'Times New Roman'; font-size:12pt">(incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on July 20, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Fourteenth Supplemental Indenture dated July 20, 2011 by and between the Company and U.S. Bank National Association (incorporated by re</font><font style="font-family:'Times New Roman'; font-size:12pt">ference to the Company&#8217;s Current Report on Form 8-K, filed on August 17, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.1</font><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Fifteenth Supplemental Indenture dated July 27, 2011 by and between the Company and U.S. Bank National Association (incorporated by reference to the Com</font><font style="font-family:'Times New Roman'; font-size:12pt">pany&#8217;s Current Report on Form 8-K, filed on August 17, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">18</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Sixteenth Supplemental Indenture dated August 31, 2011 by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current </font><font style="font-family:'Times New Roman'; font-size:12pt">Report on Form 8-K, filed on September 28, 2011, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">19</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Seventeenth Supplemental Indenture dated November 8, 2011 by and between the Company and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on</font><font style="font-family:'Times New Roman'; font-size:12pt"> Form 8-K, filed on January 18, 2012, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">0</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Eighteenth Supplemental Indenture dated January 7, 2012 by and between the Company and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, fi</font><font style="font-family:'Times New Roman'; font-size:12pt">led on March 26, 2012, file no. 1-11255).</font></p>
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                <p style="margin:0pt"><a name="EDGAR_PAGE_END24"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">9</font><a name="EDGAR_HF_F_END_4"></a></p>
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                                <p style="margin:0pt; line-height:115%; font-size:12pt"><a name="EDGAR_PAGE_START25"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Exhibit</font></p>
                                <p style="margin:0pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Number</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Description</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">1</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Nineteenth Supplemental Indenture dated May 14, 2012 by and between the Company and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on </font><font style="font-family:'Times New Roman'; font-size:12pt">Form 8-K, filed on May 15, 2012, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twentieth Supplemental Indenture dated September 4, 2012 by and between the Company and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed </font><font style="font-family:'Times New Roman'; font-size:12pt">on September 4, 2012, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">3</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">F</font><font style="font-family:'Times New Roman'; font-size:12pt">irst Supplemental Indenture dated January 15, 2013 by and between the Company and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on Januar</font><font style="font-family:'Times New Roman'; font-size:12pt">y 15, 2013, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">4</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">S</font><font style="font-family:'Times New Roman'; font-size:12pt">econd Supplemental Indenture dated May 28, 2013 by and between the Company and U. S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on May 30, 2013, file </font><font style="font-family:'Times New Roman'; font-size:12pt">no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font></p>
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                                <p style="margin:6pt 0pt 0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">T</font><font style="font-family:'Times New Roman'; font-size:12pt">hird Supplemental Indenture dated November 26, 2013 by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on November 26, 2013, file no. </font><font style="font-family:'Times New Roman'; font-size:12pt">1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">Fourth</font><font style="font-family:'Times New Roman'; font-size:12pt"> Supplemental Indenture dated </font><font style="font-family:'Times New Roman'; font-size:12pt">April</font><font style="font-family:'Times New Roman'; font-size:12pt"> 2</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">4</font><font style="font-family:'Times New Roman'; font-size:12pt"> by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on </font><font style="font-family:'Times New Roman'; font-size:12pt">April</font><font style="font-family:'Times New Roman'; font-size:12pt"> 2</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">4</font><font style="font-family:'Times New Roman'; font-size:12pt">, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">Fifth</font><font style="font-family:'Times New Roman'; font-size:12pt"> Supplemental Indenture dated </font><font style="font-family:'Times New Roman'; font-size:12pt">July</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">7</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font><font style="font-family:'Times New Roman'; font-size:12pt"> by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on </font><font style="font-family:'Times New Roman'; font-size:12pt">July 7, 2015</font><font style="font-family:'Times New Roman'; font-size:12pt">, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">8</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">Sixth</font><font style="font-family:'Times New Roman'; font-size:12pt"> Supp</font><font style="font-family:'Times New Roman'; font-size:12pt">lemental Indenture dated </font><font style="font-family:'Times New Roman'; font-size:12pt">September</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">29</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font><font style="font-family:'Times New Roman'; font-size:12pt"> by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on </font><font style="font-family:'Times New Roman'; font-size:12pt">September</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt">29</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font><font style="font-family:'Times New Roman'; font-size:12pt">, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.2</font><font style="font-family:'Times New Roman'; font-size:12pt">9</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">Seventh</font><font style="font-family:'Times New Roman'; font-size:12pt"> Supplemen</font><font style="font-family:'Times New Roman'; font-size:12pt">tal Indenture dated </font><font style="font-family:'Times New Roman'; font-size:12pt">Dec</font><font style="font-family:'Times New Roman'; font-size:12pt">ember </font><font style="font-family:'Times New Roman'; font-size:12pt">15</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font><font style="font-family:'Times New Roman'; font-size:12pt"> by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on </font><font style="font-family:'Times New Roman'; font-size:12pt">Dec</font><font style="font-family:'Times New Roman'; font-size:12pt">ember </font><font style="font-family:'Times New Roman'; font-size:12pt">15</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">5</font><font style="font-family:'Times New Roman'; font-size:12pt">, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">30</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">Twenty-</font><font style="font-family:'Times New Roman'; font-size:12pt">Eighth</font><font style="font-family:'Times New Roman'; font-size:12pt"> Supplemental Indenture dated </font><font style="font-family:'Times New Roman'; font-size:12pt">September 13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt"> by and between the Company and U.S. Bank National Association (incorporated by reference to the Company&#8217;s Current Report on Form 8-K, filed on </font><font style="font-family:'Times New Roman'; font-size:12pt">September 13</font><font style="font-family:'Times New Roman'; font-size:12pt">, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">6</font><font style="font-family:'Times New Roman'; font-size:12pt">, file no. 1-11255).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.</font><font style="font-family:'Times New Roman'; font-size:12pt">31</font><font style="font-family:'Times New Roman'; font-size:12pt">*</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Form of Debt </font><font style="font-family:'Times New Roman'; font-size:12pt">Security.</font><a name="EDGAR_PAGE_END25"></a></p>
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                    <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_3"></a><font style="font-family:'Times New Roman'; font-size:12pt">II-</font><font style="font-family:'Times New Roman'; font-size:12pt">10</font><a name="EDGAR_HF_F_END_4"></a></p>
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                                <p style="margin:0pt; line-height:115%; font-size:12pt"><a name="EDGAR_PAGE_START26"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Exhibit</font></p>
                                <p style="margin:0pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Number</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Description</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">5.1**</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Opinion of DLA Piper LLP (US) regarding legality of the securities being registered.</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">5.</font><font style="font-family:'Times New Roman'; font-size:12pt">2</font><font style="font-family:'Times New Roman'; font-size:12pt">**</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Opinion of </font><font style="font-family:'Times New Roman'; font-size:12pt">Jennifer M. Settles, Secretary of AMERCO</font><font style="font-family:'Times New Roman'; font-size:12pt"> regarding legality of the securities being registered.</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">12.1**</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Statement of </font><font style="font-family:'Times New Roman'; font-size:12pt">C</font><font style="font-family:'Times New Roman'; font-size:12pt">omputation of </font><font style="font-family:'Times New Roman'; font-size:12pt">R</font><font style="font-family:'Times New Roman'; font-size:12pt">atios of </font><font style="font-family:'Times New Roman'; font-size:12pt">E</font><font style="font-family:'Times New Roman'; font-size:12pt">arnings to </font><font style="font-family:'Times New Roman'; font-size:12pt">F</font><font style="font-family:'Times New Roman'; font-size:12pt">ixed </font><font style="font-family:'Times New Roman'; font-size:12pt">C</font><font style="font-family:'Times New Roman'; font-size:12pt">harges.</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">23.1**</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Consent of DLA Piper LLP (US) (included in Exhibit 5.1).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">23.2**</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Consent of BDO USA, LLP, independent registered public accounting firm for </font><font style="font-family:'Times New Roman'; font-size:12pt">the Company</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">24.1**</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Power of Attorney (inc</font><font style="font-family:'Times New Roman'; font-size:12pt">luded on the signature page of this registration statement).</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">25.1*</font><font style="font-family:'Times New Roman'; font-size:12pt">*</font></p>
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                                <p style="margin:0pt 0pt 10pt; text-align:justify; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Statement of Eligibility of Trustee on Form T-1 under the Trust Indenture Act of 1939, as amended.</font></p>
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                <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">_______________________</font></p>
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                                <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">To be filed</font><font style="font-family:'Times New Roman'; font-size:12pt">, if necessary,</font><font style="font-family:'Times New Roman'; font-size:12pt"> as an exhibit to a report filed under the Exchange Act and incorporated herein by reference.</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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                                <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:12pt">Filed herewith.</font></p>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ex51.htm
<DESCRIPTION>OPINION OF DLA PIPER LLP
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                <p style="margin:0pt; line-height:10.5pt"><font style="font-family:Arial; font-size:8.5pt; font-weight:bold; letter-spacing:0.1pt">DLA Piper</font><font style="font-family:Arial; font-size:6.5pt; font-weight:bold; letter-spacing:0.1pt"> </font><font style="font-family:Arial; font-size:6.5pt; font-weight:bold; letter-spacing:0.1pt">LLP (</font><font style="font-family:Arial; font-size:6.5pt; font-weight:bold; letter-spacing:0.1pt">US</font><font style="font-family:Arial; font-size:6.5pt; font-weight:bold; letter-spacing:0.1pt">)</font></p>
                <p style="margin:0pt; line-height:10.5pt"><font style="font-family:Arial; font-size:8.5pt; letter-spacing:0.1pt">2525 East Camelback Road, Suite 1000</font><br /><font style="font-family:Arial; font-size:8.5pt; letter-spacing:0.1pt">Phoenix, Arizona&#160; 85016-4232</font></p>
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		  <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">January 13, 2017</font></p>
            <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt; font-style:italic; font-variant:small-caps">VIA EMAIL AND U.S. MAIL</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>

            <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">AMERCO</font></p>
            <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">5555 Kietzke Lane, Suite 100</font></p>
            <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">Reno, Nevada 89511</font></p>
            <p style="margin:12pt 5.65pt 0pt 0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:Arial; font-size:11pt; font-weight:bold">Re:</font><font style="font-family:Arial; font-size:11pt; font-weight:bold">AMERCO - Registration Statement on Form S-3 </font></p>
            <p style="margin:12pt 0pt"><font style="font-family:Arial; font-size:11pt">Ladies and Gentlemen:</font></p>
            <p style="margin:0pt 0pt 12pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">We have acted as counsel to AMERCO, a Nevada corporation (the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Company</font><font style="font-family:Arial; font-size:11pt">&#8221;), in connection with the preparation and filing of the </font><font style="font-family:Arial; font-size:11pt">r</font><font style="font-family:Arial; font-size:11pt">egis</font><font style="font-family:Arial; font-size:11pt">tration statement on Form S-3</font><font style="font-family:Arial; font-size:11pt"> (as amended or supplemented</font><font style="font-family:Arial; font-size:11pt">, the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Registration Statement</font><font style="font-family:Arial; font-size:11pt">&#8221;) by the Company with the Securities and Exchange Commission (the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Commission</font><font style="font-family:Arial; font-size:11pt">&#8221;) on January 13, 2017.&#160; The Registration Statement relates to the issuance and sale from time to time on a delayed or continuous basis pursuant to R</font><font style="font-family:Arial; font-size:11pt">ule 415 under the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Securities Act</font><font style="font-family:Arial; font-size:11pt">&#8221;), of an indeterminate amount and aggregate offering price of the Company&#8217;s: </font></p>
            <ol type="a" style="margin:0pt; padding-left:0pt">
                <li style="margin:12pt 0pt 12pt 53.84pt; text-indent:0pt; line-height:14pt; padding-left:18.16pt; font-family:Arial; font-size:11pt"><font style="font-family:Arial; font-size:11pt">common stock, par value $0.25 per share (the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Common Stock</font><font style="font-family:Arial; font-size:11pt">&#8221;);</font></li>
                <li style="margin:12pt 0pt 12pt 53.84pt; text-indent:0pt; line-height:14pt; padding-left:18.16pt; font-family:Arial; font-size:11pt"><font style="font-family:Arial; font-size:11pt">preferred stock, no par value per share, </font><font style="font-family:Arial; font-size:11pt">(the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Preferred Stock</font><font style="font-family:Arial; font-size:11pt">&#8221;); and</font></li>
                <li style="margin:12pt 0pt 12pt 53.22pt; text-indent:0pt; line-height:14pt; padding-left:18.78pt; font-family:Arial; font-size:11pt"><font style="font-family:Arial; font-size:11pt">debt securities (the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Debt Securities</font><font style="font-family:Arial; font-size:11pt">&#8221;).</font></li>
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            <p style="margin:0pt 0pt 12pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">Collectively, the Common Stock, the Preferred Stock and the Debt Securities are referred to herein as the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Securities</font><font style="font-family:Arial; font-size:11pt; font-style:italic">.</font><font style="font-family:Arial; font-size:11pt">&#8221;</font></p>
            <p style="margin:0pt 0pt 12pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">In providing this opinion, we have relied as to certain matters on</font><font style="font-family:Arial; font-size:11pt"> information obtained from public officials and </font><font style="font-family:Arial; font-size:11pt">from </font><font style="font-family:Arial; font-size:11pt">officers and other representatives of the Company. We have been advised by the Company and, for purposes of this opinion, we have assumed, that:</font></p>
            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">1. </font><font style="font-family:Arial; font-size:11pt">The rights, preferences, privileges and restrictions, </font><font style="font-family:Arial; font-size:11pt">including voting rights, dividend rights, conversion rights, redemption privileges and liquidation privileges of each series of Preferred Stock will be set forth in a certificate of designation to be approved by the Company&#8217;s board of directors, or in an a</font><font style="font-family:Arial; font-size:11pt">mendment to the Company&#8217;s Amended and Restated Articles of Incorporation (the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Articles of Incorporation</font><font style="font-family:Arial; font-size:11pt">&#8221;), to be approved by the Company&#8217;s board of directors and stockholders, and that one or both of these documents will be filed either as an exhibit to </font><font style="font-family:Arial; font-size:11pt">an amendment to the Registration Statement to be filed after the date of this opinion or as an exhibit to a Current Report on Form 8-K to be filed after the Registration Statement has become effective;</font><a name="EDGAR_PAGE_END1"></a></p>
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                <p style="margin:0pt"><font style="display:block; height:0pt; position:relative; text-align:left; z-index:-65536"><img src="image4.gif" width="120" height="70" alt="DLA_Piper_logo" style="margin-top:-73.2pt; margin-left:-0.25pt; -aw-left-pos:71.75pt; -aw-rel-hpos:page; -aw-rel-vpos:page; -aw-top-pos:51.15pt; -aw-wrap-type:none; position:absolute" ></font><font style="font-family:Arial; font-size:11pt">AMERCO</font></p>
                <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">January 13, 2017</font></p>
                <p style="margin:0pt 0pt 24pt"><font style="font-family:Arial; font-size:11pt">Page </font><font style="font-family:Arial; font-size:11pt">2</font><a name="EDGAR_HF_H_END_2"></a></p>
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            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><a name="EDGAR_PAGE_START2"></a><font style="font-family:Arial; font-size:11pt">2.</font><font style="font-family:Arial; font-size:11pt">The Debt Securities will be issued</font><font style="font-family:Arial; font-size:11pt"> pursuant to an i</font><font style="font-family:Arial; font-size:11pt">ndenture between the Company and U.S.</font><font style="font-family:Arial; font-size:11pt; letter-spacing:2.05pt"> </font><font style="font-family:Arial; font-size:11pt">Bank</font><font style="font-family:Arial; font-size:11pt; letter-spacing:1.8pt"> </font><font style="font-family:Arial; font-size:11pt">National</font><font style="font-family:Arial; font-size:11pt; letter-spacing:1.65pt"> </font><font style="font-family:Arial; font-size:11pt">Association</font><font style="font-family:Arial; font-size:11pt; letter-spacing:1.5pt"> </font><font style="font-family:Arial; font-size:11pt">(the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Trustee</font><font style="font-family:Arial; font-size:11pt">&#8221;), a form of which has been (i) filed as an exhibit to this Registration Statement, (ii) duly authorized, executed and delivered, and (iii) qualified under the Trust Indenture Ac</font><font style="font-family:Arial; font-size:11pt">t of 1939, as amended;</font></p>
            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">3.</font><font style="font-family:Arial; font-size:11pt">The particular terms of any Debt Securities to be issued will be set forth in a supplement to the prospectus forming a part of the Registration Statement; and</font></p>
            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">4.</font><font style="font-family:Arial; font-size:11pt">The number of shares of Common Stock and Preferred Stock to be offer</font><font style="font-family:Arial; font-size:11pt">ed and sold subsequent to the date hereof under the Registration Statement, together with the number of shares of Common Stock and Preferred Stock of the same class issuable upon exercise, conversion or exchange of any Securities will not, in the aggregate</font><font style="font-family:Arial; font-size:11pt">, exceed the number of shares of each such class of Common Stock or Preferred Stock authorized in the Articles of Incorporation.</font></p>
            <p style="margin:0pt 0pt 12pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">In rendering the opinions set forth below, we have further assumed that (i) all information contained in all documents reviewed</font><font style="font-family:Arial; font-size:11pt"> by us is true and correct; (ii) all signatures on all documents examined by us are genuine; (iii) all documents submitted to us as originals are authentic and all documents submitted to us as copies conform to the originals of those documents; (iv) each n</font><font style="font-family:Arial; font-size:11pt">atural person signing any document reviewed by us had the legal capacity to do so; (v) the Registration Statement, and any further amendments thereto (including post-effective amendments) will have become effective and will comply with all applicable laws;</font><font style="font-family:Arial; font-size:11pt"> (vi) a prospectus supplement, or prospectus supplements, will have been prepared and filed with the Commission describing the Securities offered thereby; (vii) all Securities will be issued and sold in compliance with applicable federal and state securiti</font><font style="font-family:Arial; font-size:11pt">es laws and in the manner stated in the Registration Statement and the applicable prospectus supplement(s); (viii) a definitive purchase, underwriting or similar agreement with respect to any Securities offered will have been duly authorized and validly ex</font><font style="font-family:Arial; font-size:11pt">ecuted and delivered by the Company and the other parties thereto; (ix) the Company will have reserved from its authorized but unissued and unreserved shares of stock a number sufficient to issue all shares of Common Stock and Preferred Stock; (x) the cert</font><font style="font-family:Arial; font-size:11pt">ificates representing the Securities will be duly executed and delivered; and (xi) if the holders of the Debt Securities or shares of Preferred Stock are granted rights to inspect corporate books and records and to vote in the election of directors or any </font><font style="font-family:Arial; font-size:11pt">matters on which stockholders of the Company may vote, such rights will be set forth in the Articles of Incorporation, or the Articles of Incorporation grants to the Company&#8217;s board of directors the power to confer such voting or inspection rights and the </font><font style="font-family:Arial; font-size:11pt">Company&#8217;s board of directors will have conferred such rights.</font><a name="EDGAR_PAGE_END2"></a></p>
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                <p style="margin:0pt"><font style="display:block; height:0pt; position:relative; text-align:left; z-index:-65536"><img src="image4.gif" width="120" height="70" alt="DLA_Piper_logo" style="margin-top:-73.2pt; margin-left:-0.25pt; -aw-left-pos:71.75pt; -aw-rel-hpos:page; -aw-rel-vpos:page; -aw-top-pos:51.15pt; -aw-wrap-type:none; position:absolute" ></font><font style="font-family:Arial; font-size:11pt">AMERCO</font></p>
                <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">January 13, 2017</font></p>
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            <p style="margin:12pt 0pt; line-height:14pt"><a name="EDGAR_PAGE_START3"></a><font style="font-family:Arial; font-size:11pt">We have examined the Registration Statement, including the exhibits thereto, and such other documents, corporate records, and instruments and have examined such laws and regulations as we have </font><font style="font-family:Arial; font-size:11pt">deemed necessary for purposes of rendering the opinions set forth herein. Based upon such examination and subject to the further assumptions, qualifications and limitations contained herein, we are of the following opinion:</font></p>
            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">1.</font><font style="font-family:Arial; font-size:11pt">The Common Stock will be vali</font><font style="font-family:Arial; font-size:11pt">dly issued, fully paid and nonassessable, assuming that (i) the Company&#8217;s board of directors or an authorized committee thereof will have specifically authorized the issuance of such Common Stock in exchange for consideration that the board of directors or</font><font style="font-family:Arial; font-size:11pt"> such committee determines as adequate and in excess of the par value of such Common Stock (&#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Common Stock Authorizing Resolutions</font><font style="font-family:Arial; font-size:11pt">&#8221;), and (ii) the Company has received the consideration provided for in the applicable Common Stock Authorizing Resolutions.</font></p>
            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">2.</font><font style="font-family:Arial; font-size:11pt">The Preferred Stock will be validly issued, fully paid and nonassessable, assuming that (i) the Company&#8217;s board of directors or an authorized committee thereof will have specifically authorized the issuance of such Preferred Stock in exchange for consider</font><font style="font-family:Arial; font-size:11pt">ation that the board of directors or such committee determines as adequate and in excess of the par value of such Preferred Stock (&#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Preferred Stock Authorizing Resolutions</font><font style="font-family:Arial; font-size:11pt">&#8221;), (ii) the rights, preferences, privileges and restrictions of the Preferred Stock </font><font style="font-family:Arial; font-size:11pt">have been established in conformity with applicable law, (iii) an appropriate certificate of designation approved by the Company&#8217;s board of directors, or an amendment to the Company&#8217;s Articles of Incorporation approved by the Company&#8217;s board of directors a</font><font style="font-family:Arial; font-size:11pt">nd stockholders, has been filed with the State of Nevada, (iv) the terms of the offer, issuance and sale of shares of such class or series of Preferred Stock have been duly established in conformity with the Company&#8217;s Articles of Incorporation and Bylaws (</font><font style="font-family:Arial; font-size:11pt">the &#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Bylaws</font><font style="font-family:Arial; font-size:11pt">&#8221;), and do not violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company and comply with any requirement or restriction imposed by any court or governmental body having jurisdiction</font><font style="font-family:Arial; font-size:11pt"> over the Company, and (v) the Company has received the consideration provided for in the applicable Preferred Stock Authorizing Resolutions.</font></p>
            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">3.</font><font style="font-family:Arial; font-size:11pt">The Debt Securities will constitute valid and legally binding obligations of the Company, assuming that (i) the</font><font style="font-family:Arial; font-size:11pt"> Company&#8217;s board of directors or an authorized committee thereof will have specifically authorized the issuance of such Debt Securities in exchange for consideration that the board of directors or such committee determines as adequate (&#8220;</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">Debt Securities Aut</font><font style="font-family:Arial; font-size:11pt; font-weight:bold; font-style:italic">horizing Resolutions</font><font style="font-family:Arial; font-size:11pt">&#8221;), (ii) the applicable indenture conforms with applicable law and is enforceable in accordance with its terms, (iii) the</font><a name="EDGAR_PAGE_END3"></a></p>
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                <p style="margin:0pt"><font style="display:block; height:0pt; position:relative; text-align:left; z-index:-65536"><img src="image4.gif" width="120" height="70" alt="DLA_Piper_logo" style="margin-top:-73.2pt; margin-left:-0.25pt; -aw-left-pos:71.75pt; -aw-rel-hpos:page; -aw-rel-vpos:page; -aw-top-pos:51.15pt; -aw-wrap-type:none; position:absolute" ></font><font style="font-family:Arial; font-size:11pt">AMERCO</font></p>
                <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">January 13, 2017</font></p>
                <p style="margin:0pt 0pt 24pt"><font style="font-family:Arial; font-size:11pt">Page </font><font style="font-family:Arial; font-size:11pt">4</font><a name="EDGAR_HF_H_END_2"></a></p>
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            <p style="margin:12pt 0pt 12pt 36pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt"> </font><a name="EDGAR_PAGE_START4"></a><font style="font-family:Arial; font-size:11pt">terms of the Debt Securities and of their issue and sale have been duly established in conformity with the applica</font><font style="font-family:Arial; font-size:11pt">ble indenture, the Company&#8217;s Articles of Incorporation and Debt Securities Authorizing Resolutions and do not violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company, and comply with any req</font><font style="font-family:Arial; font-size:11pt">uirement or restriction imposed by any court or governmental body having jurisdiction over the Company, (iv) such Debt Securities have been duly executed and authenticated in accordance with the applicable indenture and offered, issued and sold as contempl</font><font style="font-family:Arial; font-size:11pt">ated in the Registration Statement, and (v) the Company has received the consideration provided for in the applicable Debt Securities Authorizing Resolutions.</font></p>
            <p style="margin:0pt 0pt 12pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">The foregoing opinions are qualified to the extent that the enforceability of any document, instr</font><font style="font-family:Arial; font-size:11pt">ument or the Securities may be limited by or subject to bankruptcy, insolvency, fraudulent transfer or conveyance, reorganization, moratorium or other similar laws relating to or affecting creditors&#8217; rights generally, and general equitable or public policy</font><font style="font-family:Arial; font-size:11pt"> principles.&#160; We express no opinions concerning the validity or enforceability of any provisions contained in indentures that purport to waive or not give effect to rights to notices, defenses, subrogation or other rights or benefits that cannot be effecti</font><font style="font-family:Arial; font-size:11pt">vely waived under applicable law.</font></p>
            <p style="margin:12pt 0pt 12pt 1.45pt; line-height:14pt; background-color:#ffffff"><font style="font-family:Arial; font-size:11pt">Insofar as any of the foregoing opinions relate to the laws of the State of Nevada, we have relied solely on the opinion letter addressed to you from Jennifer M. Settles, Secretary of and counsel to the Company, dated Janu</font><font style="font-family:Arial; font-size:11pt">ary 13, 2017, regarding the matters set forth therein, and our opinion is subject to the assumptions, qualifications, limitations and exceptions set forth in such opinion.</font><font style="font-family:Arial; font-size:11pt">&#xa0;</font><font style="font-family:Arial; font-size:11pt"> We have not independently verified the validity of such opinion and express no inde</font><font style="font-family:Arial; font-size:11pt">pendent view with respect to the laws of the State of Nevada.</font></p>
            <p style="margin:0pt 0pt 12pt; line-height:14pt"><font style="font-family:Arial; font-size:11pt">We hereby consent to the filing of this opinion as </font><font style="font-family:Arial; font-size:11pt">Exhibit 5.1 </font><font style="font-family:Arial; font-size:11pt">to the Registration Statement and the reference to DLA Piper LLP (US) under the caption &#8220;Legal Matters&#8221; in the prospectus included </font><font style="font-family:Arial; font-size:11pt">in the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.</font></p>
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                <p style="margin:0pt"><font style="display:block; height:0pt; position:relative; text-align:left; z-index:-65536"><img src="image4.gif" width="120" height="70" alt="DLA_Piper_logo" style="margin-top:-73.2pt; margin-left:-0.25pt; -aw-left-pos:71.75pt; -aw-rel-hpos:page; -aw-rel-vpos:page; -aw-top-pos:51.15pt; -aw-wrap-type:none; position:absolute" ></font><font style="font-family:Arial; font-size:11pt">AMERCO</font></p>
                <p style="margin:0pt"><font style="font-family:Arial; font-size:11pt">January 13, 2017</font></p>
                <p style="margin:0pt 0pt 24pt"><font style="font-family:Arial; font-size:11pt">Page </font><font style="font-family:Arial; font-size:11pt">5</font><a name="EDGAR_HF_H_END_2"></a></p>
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            <p style="margin:0pt 0pt 12pt; line-height:14pt"><a name="EDGAR_PAGE_START5"></a><font style="font-family:Arial; font-size:11pt">Our o</font><font style="font-family:Arial; font-size:11pt">pinion is expressly limited to the matters set forth above, and we render no opinion, whether by implication or otherwise, as to any other matters relating to the Company, the Securities or the Registration Statement.</font></p>
            <p style="margin:0pt; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:Arial; font-size:11pt">Very truly yours,</font></p>
            <p style="margin:12pt 0pt 0pt; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:Arial; font-size:11pt; font-weight:bold">DLA Piper LLP (US)</font><a name="EDGAR_PAGE_END5"></a></p>
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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>3
<FILENAME>ex52.htm
<DESCRIPTION>OPINION OF JENNIFER SETTLES, SEC OF AMERCO
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                        <p style="margin:0pt; text-align:center; line-height:10.5pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; letter-spacing:0.1pt">AMERCO</font></p>
                        <p style="margin:0pt; text-align:center; line-height:10.5pt"><font style="font-family:'Times New Roman'; font-size:12pt; letter-spacing:0.1pt">5555 Kietzke Lane, Suite 100</font></p>
                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; letter-spacing:0.1pt">Reno, Nevada 89511</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11.5pt">January 13, 2017</font></p>
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            <p style="margin:12pt 0pt"><font style="font-family:'Times New Roman'; font-size:11.5pt">Ladies and Gentlemen:</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">I am Secretary of AMERCO, </font><font style="font-family:'Times New Roman'; font-size:11.5pt">a Nevada corporation (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Company</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), </font><font style="font-family:'Times New Roman'; font-size:11.5pt">and have served as counsel to the Company in connection with </font><font style="font-family:'Times New Roman'; font-size:11.5pt">the preparation and filing of the </font><font style="font-family:'Times New Roman'; font-size:11.5pt">r</font><font style="font-family:'Times New Roman'; font-size:11.5pt">egis</font><font style="font-family:'Times New Roman'; font-size:11.5pt">tration statement on Form S-3</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> (as amended or supplemented, the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Registration S</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">tatement</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;) by the Company with the Securities and Exchange Commission (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Commission</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;) on January 13,</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> 2017, with respect to </font><font style="font-family:'Times New Roman'; font-size:11.5pt">the issuance and sale from time to time</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> on a delayed or continuous basis</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> pursuant to Rule 415 under the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Securities Act</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), of an indeterminate amount and aggregate offering price of the Company&#8217;s: </font></p>
            <p style="margin:12pt 0pt 0pt 36pt"><font style="font-family:'Times New Roman'; font-size:11.5pt">(a)</font><font style="font-family:'Times New Roman'; font-size:11.5pt">common stock, par value $0.25 per share (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Common Stock</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;);</font><br /><font style="font-family:'Times New Roman'; font-size:11.5pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 36pt"><font style="font-family:'Times New Roman'; font-size:11.5pt">(b)</font><font style="font-family:'Times New Roman'; font-size:11.5pt">preferred stock, no par value per share, (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Preferred Stock</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;); and</font><br /><font style="font-family:'Times New Roman'; font-size:11.5pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 12pt 36pt"><font style="font-family:'Times New Roman'; font-size:11.5pt">(c)</font><font style="font-family:'Times New Roman'; font-size:11.5pt">debt securities (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Debt Securities</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;).</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">Collectively, the Common Stock, the Preferred Stock and the Debt Securities are referred to herein as the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Securities</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-style:italic">.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">In providing this opinion, </font><font style="font-family:'Times New Roman'; font-size:11.5pt">I</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> have relied as to certain matters on information obtained from public officials and </font><font style="font-family:'Times New Roman'; font-size:11.5pt">from </font><font style="font-family:'Times New Roman'; font-size:11.5pt">officers and other representatives of the Company. </font><font style="font-family:'Times New Roman'; font-size:11.5pt">I </font><font style="font-family:'Times New Roman'; font-size:11.5pt">have been advised by the Company and, for purposes of this opinion, have assumed, that:</font></p>
            <p style="margin:12pt 0pt 0pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">1.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation privileges of each series of Preferred Stock will be set forth in a certificate of designation to be approved by the Company&#8217;s board of directors, or in an amendment to the Company&#8217;s Amended and Restated Articles of Incorporation (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Articles of Incorporation</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), to be approved by the Company&#8217;s board of directors and stockholders, and that one or both of these documents will be filed either as an exhibit to an amendment to the Registration Statement to be filed after the date of this opinion or as an exhibit to a Current Report on Form 8-K to be filed after the Registration Statement has become effective;</font></p>
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            <p style="margin:0pt 0pt 0pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">2.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> </font><font style="font-family:'Times New Roman'; font-size:11.5pt">Debt Securities will be issued</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> pursuant to an indenture between the Company and U.S.</font><font style="font-family:'Times New Roman'; font-size:11.5pt; letter-spacing:2.05pt"> </font><font style="font-family:'Times New Roman'; font-size:11.5pt">Bank</font><font style="font-family:'Times New Roman'; font-size:11.5pt; letter-spacing:1.8pt"> </font><font style="font-family:'Times New Roman'; font-size:11.5pt">National</font><font style="font-family:'Times New Roman'; font-size:11.5pt; letter-spacing:1.65pt"> </font><font style="font-family:'Times New Roman'; font-size:11.5pt">Association</font><font style="font-family:'Times New Roman'; font-size:11.5pt; letter-spacing:1.5pt"> </font><font style="font-family:'Times New Roman'; font-size:11.5pt">(the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Trustee</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), </font><font style="font-family:'Times New Roman'; font-size:11.5pt">a form of which has been </font><font style="font-family:'Times New Roman'; font-size:11.5pt">(i) filed as an exhibit to this Registration Statement</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> </font><font style="font-family:'Times New Roman'; font-size:11.5pt">and (ii) qualified under the Trust Indenture Act of 1939, as amended;</font></p>
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            <p style="margin:0pt 0pt 0pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">3.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The particular terms of any Debt Securities to be issued will be set forth in a supplement to the prospectus forming a part of the Registration Statement; and</font></p>
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            <p style="margin:0pt 0pt 12pt 36pt; text-align:justify"><a name="EDGAR_PAGE_START2"></a><font style="font-family:'Times New Roman'; font-size:11.5pt">4.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The number of shares of Common Stock and Preferred Stock to be offered and sold subsequent to the date hereof under the Registration Statement, together with the number of shares of Common Stock and Preferred Stock of the same class issuable upon exercise, conversion or exchange of any Securities will not, in the aggregate, exceed the number of shares of each such class of Common Stock or Preferred Stock authorized in the Articles of Incorporation.</font></p>
            <p style="margin:12pt 0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">As </font><font style="font-family:'Times New Roman'; font-size:11.5pt">the Company&#8217;s counsel, I have examined such corporate records, certificates and other documents, and such questions of law, as I have considered necessary or appropriate for the purposes of this opinion.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#160; Upon the basis of such examination, I advise you of the following opinions</font><font style="font-family:'Times New Roman'; font-size:11.5pt">:</font></p>
            <p style="margin:12pt 0pt 0pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">1.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The Common Stock will be validly issued, fully paid and nonassessable, assuming that (i) the Company&#8217;s board of directors or an authorized committee thereof will have specifically authorized the issuance of such Common Stock in exchange for consideration that the board of directors or such committee determines as adequate and in excess of the par value of such Common Stock (&#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Common Stock Authorizing Resolutions</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), and (ii) the Company has received the consideration provided for in the applicable Common Stock Authorizing Resolutions.</font></p>
            <p style="margin:0pt 0pt 0pt 72pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">2.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The Preferred Stock will be validly issued, fully paid and nonassessable, assuming that (i) the Company&#8217;s board of directors or an authorized committee thereof will have specifically authorized the issuance of such Preferred Stock in exchange for consideration that the board of directors or such committee determines as adequate and in excess of the par value of such Preferred Stock (&#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Preferred Stock Authorizing Resolutions</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), (ii) the rights, preferences, privileges and restrictions of the Preferred Stock have been established in conformity with applicable law, (iii) an appropriate certificate of designation approved by the Company&#8217;s board of directors, or an amendment to the Company&#8217;s Articles of Incorporation approved by the Company&#8217;s board of directors and stockholders, has been filed with the State of Nevada, (iv) the terms of the offer, issuance and sale of shares of such class or series of Preferred Stock have been duly established in conformity with the Company&#8217;s Articles of Incorporation and Bylaws (the &#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Bylaws</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), and do not violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company and comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company, and (v) the Company has received the consideration provided for in the applicable Preferred Stock Authorizing Resolutions.</font></p>
            <p style="margin:0pt 0pt 0pt 72pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 12pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">3.</font><font style="font-family:'Times New Roman'; font-size:11.5pt">The Debt Securities will constitute valid and legally binding obligations of the Company, assuming that (i) the Company&#8217;s board of directors or an authorized committee thereof will have specifically authorized the issuance of such Debt Securities in exchange for consideration that the board of directors or such committee determines as adequate (&#8220;</font><font style="font-family:'Times New Roman'; font-size:11.5pt; font-weight:bold; font-style:italic">Debt Securities Authorizing Resolutions</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#8221;), (ii) the applicable indenture conforms with applicable law and is enforceable in accordance with its terms, (iii) the terms of the Debt Securities and of their issue and sale have been duly established in conformity with the applicable indenture, the Company&#8217;s Articles of Incorporation and Debt Securities Authorizing Resolutions and do</font><a name="EDGAR_PAGE_END2"></a></p>
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            <p style="margin:0pt 0pt 12pt 36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt"> </font><a name="EDGAR_PAGE_START3"></a><font style="font-family:'Times New Roman'; font-size:11.5pt">not violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company, and comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company, (iv) such Debt Securities have been duly executed and authenticated in accordance with the applicable indenture and offered, issued and sold as contemplated in the Registration Statement, and (v) the Company has received the consideration provided for in the applicable Debt Securities Authorizing Resolutions.</font></p>
            <p style="margin:0pt 0pt 12pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">The foregoing opinions are qualified to the extent that the enforceability of any document, instrument or the Securities may be limited by or subject to bankruptcy, insolvency, fraudulent transfer or conveyance, reorganization, moratorium or other similar laws relating to or affecting creditors&#8217; rights generally, and general equitable</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> or public policy principles.&#160; </font></p>
            <p style="margin:0pt 0pt 12pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">The foregoing opinions are l</font><font style="font-family:'Times New Roman'; font-size:11.5pt">imited to the laws of the State</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> of Nevada, and I am expressing no opinion as to the effect of the laws of any other jurisdiction.</font></p>
            <p style="margin:0pt; text-indent:36pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:11.5pt">I hereby consent to the</font><font style="font-family:'Times New Roman'; font-size:11.5pt"> filing of this opinion as </font><font style="font-family:'Times New Roman'; font-size:11.5pt">Exhibit 5.2 to the Registration Statement.&#160; </font><font style="font-family:'Times New Roman'; font-size:11.5pt">In giving such consent, I do not thereby admit that I am in the category of persons whose consent is required under Section</font><font style="font-family:'Times New Roman'; font-size:11.5pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:11.5pt">7 of the Act.</font></p>
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            <p style="margin:0pt; page-break-inside:avoid; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:11.5pt">Very truly yours,</font></p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>4
<FILENAME>ex121.htm
<DESCRIPTION>COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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            <p style="margin:0pt 0pt 10pt; text-align:right; line-height:115%; font-size:10pt"><a name="EDGAR_PAGE_START1"></a><font style="font-family:Arial; font-size:10pt; font-weight:bold">Exhibit 12</font><font style="font-family:Arial; font-size:10pt; font-weight:bold">.1</font></p>
            <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:10pt"><font style="font-family:Arial; font-size:10pt; font-weight:bold">AMERCO and Consolidated Subsidiaries</font></p>
            <p style="margin:0pt 0pt 10pt; text-align:center; line-height:115%; font-size:10pt"><font style="font-family:Arial; font-size:10pt; font-weight:bold">Computation of Ratio of Earnings to Fixed Charges</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:8pt"> Six Months Ended </font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:8pt"> Fiscal Year Ended</font><font style="font-family:Arial; font-size:8pt"> March 31,</font><font style="font-family:Arial; font-size:8pt"> </font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:8pt">September 30, 201</font><font style="font-family:Arial; font-size:8pt">6</font></p>
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                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">Earnings</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">$</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">512,122</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">768,911</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">561,418</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">537,522</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">408,487</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">325,636</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">Plus:</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">Interest expense</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">55,510</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">98,291</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">95,234</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">89,712</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">86,978</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">86,164</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">Amortization of capitalized expenses related to debt</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">1,647</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,235</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,495</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,551</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">4,133</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">4,428</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">An estimate of the interest component of rent expense</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">6,799</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">16,593</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">26,599</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">33,489</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">39,149</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">43,738</font></p>
                    </td>
                </tr>
                <tr style="height:13.5pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">Adjusted &quot;earnings&quot;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">$</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">576,078</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">887,030</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">686,746</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">664,274</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">538,747</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">459,966</font></p>
                    </td>
                </tr>
                <tr style="height:13.5pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">Fixed charges:</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">Interest expense</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">$</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">55,510</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">98,291</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">95,234</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">89,712</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">86,978</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">86,164</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">Capitalized interest</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">2,298</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,623</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">1,204</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">571</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">415</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">221</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">Amortization of capitalized expenses related to debt</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">1,647</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,235</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,495</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">3,551</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">4,133</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">4,428</font></p>
                    </td>
                </tr>
                <tr style="height:12.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt; text-indent:20pt"><font style="font-family:Arial; font-size:8pt">An estimate of the interest component of rent expense</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">6,799</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">16,593</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">26,599</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">33,489</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">39,149</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">43,738</font></p>
                    </td>
                </tr>
                <tr style="height:13.5pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">Total fixed charges</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">$</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">66,254</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:55.7pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">121,742</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">126,532</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">127,323</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">130,675</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:double; border-bottom-width:2.25pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:54.6pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">134,551</font></p>
                    </td>
                </tr>
                <tr style="height:9.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:223.2pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:5.6pt">
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:84.2pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:0.3pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:8pt">&#xa0;</font></p>
                    </td>
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            <p style="margin:0pt 0pt 10pt; line-height:115%; font-size:10pt"><a name="EDGAR_PAGE_END1"></a><font style="font-family:Arial; font-size:10pt">&#xa0;</font></p>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>ex231.htm
<DESCRIPTION>CONSENT OF DLA PIPER
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            <p style="margin:0pt; text-align:right"><a name="EDGAR_PAGE_START1"></a><font style="font-family:Arial; font-size:10pt; font-weight:bold">Exhibit 23.1</font></p>
            <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:10pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:Arial; font-size:10pt">Refer to Exhibit 5.1.</font><a name="EDGAR_PAGE_END1"></a></p>
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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>6
<FILENAME>ex232.htm
<DESCRIPTION>BDO CONSENT LETTER
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START1"></a><font style="font-family:'Trebuchet MS'; font-size:10.5pt; font-weight:normal; text-decoration:underline">Consent of Independent Registered Public Accounting Firm</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">&#xa0;</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">AMERCO</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">Reno, Nevada</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">We hereby consent to the incorporation by reference in the Prospectus constituting a part of this Regis</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">tration Statement of our reports</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt"> dated </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">May</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt"> </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">2</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">5, 2016</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">, relating to the cons</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">olidated financial statements, </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">the effectiveness of </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">AMERCO</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">&#8217;s internal control over financial reporting, and schedules of </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">AMERCO</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt"> appearing in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">March 31, 201</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">6</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">.</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">We also consent to the reference to us </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">under the caption &#8220;Experts&#8221; in the Prospectus.</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">BDO </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">USA</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">, LLP</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">Phoenix, Arizona</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">January </font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">1</font><font style="font-family:'Trebuchet MS'; font-size:10.5pt">3, 2017</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><font style="font-family:'Trebuchet MS'; font-size:10.5pt">&#xa0;</font></p>
            <p style="margin:12pt 0pt 0pt; text-align:justify"><a name="EDGAR_PAGE_END1"></a><font style="font-family:'Trebuchet MS'; font-size:10.5pt">&#xa0;</font></p>
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                <p style="margin:0pt; text-align:justify; line-height:7.2pt"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Trebuchet MS'; font-size:6pt; color:#685040">&#xa0;</font></p>
                <p style="margin:0pt; text-align:justify; line-height:7.2pt"><font style="font-family:'Trebuchet MS'; font-size:6pt; color:#685040">BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO </font><font style="font-family:'Trebuchet MS'; font-size:6pt; color:#685040">International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.</font></p>
                <p style="margin:0pt; line-height:4pt"><font style="font-family:'Trebuchet MS'; font-size:6pt; color:#685040">&#xa0;</font></p>
                <p style="margin:0pt; text-align:justify; line-height:7.2pt"><font style="font-family:'Trebuchet MS'; font-size:6pt; color:#685040">BDO is the brand name for the BDO network and for each of the BDO Member Firms.</font></p>
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<DOCUMENT>
<TYPE>EX-24.1
<SEQUENCE>7
<FILENAME>ex241.htm
<DESCRIPTION>POWER OF ATTORNEY
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            <p style="margin:0pt; text-align:right"><a name="EDGAR_PAGE_START1"></a><font style="font-family:Arial; font-size:10pt; font-weight:bold">Exhibit 2</font><font style="font-family:Arial; font-size:10pt; font-weight:bold">4</font><font style="font-family:Arial; font-size:10pt; font-weight:bold">.1</font></p>
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            <p style="margin:0pt"><font style="font-family:Arial; font-size:10pt">Refer to </font><font style="font-family:Arial; font-size:10pt">signature page of this Registration Statement</font><font style="font-family:Arial; font-size:10pt">.</font><a name="EDGAR_PAGE_END1"></a></p>
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<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>8
<FILENAME>ex251.htm
<DESCRIPTION>STATEMENT OF ELIGIBILTY - FORM T-1
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START1"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">_____________________________________________________________________________&#160;&#160; </font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:16pt; font-weight:bold; font-variant:small-caps">securities and exchange commission</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold">Washington, D.C. 20549</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">__________________________</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:16pt; font-weight:bold">FORM T-1</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold; text-transform:uppercase">Statement of Eligibility Under</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold; text-transform:uppercase">The Trust Indenture Act of 1939 of a </font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold; text-transform:uppercase">Corporation Designated to Act as Trustee</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">Check if an Application to Determine Eligibility of</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">a Trustee Pursuant to Section 305(b)(2)</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">_______________________________________________________</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:14pt; font-weight:bold">U.S. BANK NATIONAL ASSOCIATION</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:9pt">(Exact name of Trustee as specified in its charter)</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:11pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold">31-0841368</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:9pt">I.R.S. Employer Identification No.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p>
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                        <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:0.75pt; border-left-color:#000000; border-left-style:solid; border-left-width:0.75pt; border-right-color:#000000; border-right-style:solid; border-right-width:0.75pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.03pt; padding-right:5.03pt; vertical-align:top; width:228.6pt">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">800 Nicollet Mall</font></p>
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">Minneapolis, Minnesota</font></p>
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                        <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:0.75pt; border-left-color:#000000; border-left-style:solid; border-left-width:0.75pt; border-right-color:#000000; border-right-style:solid; border-right-width:0.75pt; border-top-color:#000000; border-top-style:solid; border-top-width:0.75pt; padding-left:5.03pt; padding-right:5.03pt; vertical-align:top; width:228.6pt">
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">&#xa0;</font></p>
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">55402</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:9pt">(Address of principal executive offices)</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:9pt">(Zip Code)</font></p>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">Melissa A. Rosal</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">U.S. Bank National Association</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">190 S. LaSalle Street, 7</font><font style="font-family:'Times New Roman'; font-size:7.33pt; vertical-align:super">th</font><font style="font-family:'Times New Roman'; font-size:11pt"> Floor</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">Chicago, Illinois 60603</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:11pt">(312) 332-7496</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:normal"> (Name, address and telephone number of agent for service)</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:14pt; font-weight:bold">AMERCO</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:9pt">(Issuer with respect to the Securities)</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Nevada</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">5555 Kietzke Lane, Suite 100</font></p>
                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">Reno, Nevada</font></p>
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                            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">895</font><font style="font-family:'Times New Roman'; font-size:12pt">11</font></p>
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            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:9pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:14pt; font-weight:bold">Notes</font></p>
            <p style="margin:0pt 0pt 0pt 4.5pt; text-indent:-103.5pt; text-align:center; padding-left:103.5pt"><font style="font-family:'Times New Roman'; font-size:9pt; font-weight:bold"> (Title of the Indenture Securities)</font></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">1</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; text-decoration:underline">FORM T-1</font></p>
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            <p style="margin:0pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 1.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">GENERAL INFORMATION</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic">.</font><font style="font-family:'Times New Roman'; font-size:12pt">&#160; Furnish the following information as to the Trustee.</font></p>
            <p style="margin:0pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt">a)</font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">Name and address of each examining or supervising authority to which it is subject.</font></p>
            <p style="margin:0pt 0pt 0pt 36pt; text-indent:72pt"><font style="font-family:'Times New Roman'; font-size:12pt">Comptroller of the Currency</font></p>
            <p style="margin:0pt 0pt 0pt 36pt; text-indent:72pt"><font style="font-family:'Times New Roman'; font-size:12pt">Washington, D.C.</font></p>
            <p style="margin:0pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 25.2pt; text-indent:28.8pt"><font style="font-family:'Times New Roman'; font-size:12pt">b)</font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">Whether it is authorized to exercise corporate trust powers.</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
            <p style="margin:0pt; text-indent:108pt"><font style="font-family:'Times New Roman'; font-size:12pt">Yes</font></p>
            <p style="margin:0pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:-54pt; padding-left:54pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 2.&#160;&#160;&#160;&#160; AFFILIATIONS WITH OBLIGOR. </font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; font-style:italic"> </font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">If the obligor is an affiliate of the Trustee, describe each such affiliation.</font></p>
            <p style="margin:0pt 0pt 0pt 36pt; text-indent:40.5pt"><font style="font-family:'Times New Roman'; font-size:12pt">None</font></p>
            <p style="margin:0pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:-72pt; padding-left:72pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Items 3-15</font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic">Items 3-15 are not applicable because to the best of the Trustee&#39;s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.</font></p>
            <p style="margin:0pt; text-indent:-25.2pt; padding-left:25.2pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:-54pt; padding-left:54pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Item 16.&#160;&#160;&#160;&#160; LIST OF EXHIBITS:</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:12pt; font-style:italic"> List below all exhibits filed as a part of this statement of eligibility and qualification. </font></p>
            <p style="margin:0pt; text-indent:-54pt; padding-left:54pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">1.&#160;&#160; A copy of the Articles of Association of the Trustee.*</font></p>
            <p style="margin:0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">2.&#160;&#160; A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2.</font></p>
            <p style="margin:0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">3.A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.</font></p>
            <p style="margin:0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">4.A copy of the existing bylaws of the Trustee.**</font></p>
            <p style="margin:0pt; text-indent:-72pt; padding-left:72pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">5.A copy of each Indenture referred to in Item 4.&#160; Not applicable.</font></p>
            <p style="margin:0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">6.The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 54pt; text-indent:-18pt; padding-left:18pt"><font style="font-family:'Times New Roman'; font-size:12pt">7.Report of Condition of the Trustee as of September 30, 2016 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.</font></p>
            <p style="margin:0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 27pt; text-indent:9pt"><font style="font-family:'Times New Roman'; font-size:12pt">* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.</font></p>
            <p style="margin:0pt; text-indent:-36pt; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt 0pt 0pt 27pt; text-indent:9pt"><font style="font-family:'Times New Roman'; font-size:12pt">** Incorporated by reference to Exhibit 25.1 to registration statement on form S-3ASR,&#160; Registration Number 333-199863 filed on November 5, 2014.</font><a name="EDGAR_PAGE_END2"></a></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">SIGNATURE</font></p>
            <p style="margin:0pt; text-indent:-36pt; text-align:center; padding-left:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION</font><font style="font-family:'Times New Roman'; font-size:10pt">, </font><font style="font-family:'Times New Roman'; font-size:12pt">a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the </font><font style="font-family:'Times New Roman'; font-size:12pt">City of Chicago, State of </font><font style="font-family:'Times New Roman'; font-size:12pt">Illinoi</font><font style="font-family:'Times New Roman'; font-size:12pt">s </font><font style="font-family:'Times New Roman'; font-size:12pt">on the 6</font><font style="font-family:'Times New Roman'; font-size:8pt; vertical-align:super">th</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font><font style="font-family:'Times New Roman'; font-size:8pt; vertical-align:super">&#160;</font><font style="font-family:'Times New Roman'; font-size:12pt">of January, 201</font><font style="font-family:'Times New Roman'; font-size:12pt">7</font><font style="font-family:'Times New Roman'; font-size:12pt">.</font></p>
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            <p style="margin:0pt; text-indent:216pt"><font style="font-family:'Times New Roman'; font-size:12pt">By:</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">/s/ Melissa A. Rosal________</font></p>
            <p style="margin:0pt; text-indent:252pt"><font style="font-family:'Times New Roman'; font-size:12pt">Melissa A. Rosal</font></p>
            <p style="margin:0pt 0pt 0pt 180pt; text-indent:72pt"><font style="font-family:'Times New Roman'; font-size:12pt">Vice President</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
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            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START4"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; text-decoration:underline">Exhibit 2</font></p>
            <p style="margin:0pt"><img src="image1.gif" width="612" height="792" alt="" style="-aw-left-pos:0pt; -aw-rel-hpos:column; -aw-rel-vpos:paragraph; -aw-top-pos:0pt; -aw-wrap-type:inline" ></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_END4"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
        <div class="footer" style="clear:both">
            <br>
                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">4</font></p>
                <p style="margin:0pt"><a name="EDGAR_HF_F_END_2"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <br>
        </div>
        </div>
        <div style="page-break-before:always; clear:both;">
        <div class="header" style="clear:both">
            <br>
        </div>
            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START5"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; text-decoration:underline">E</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; text-decoration:underline">xhibit 3</font></p>
            <p style="margin:0pt"><img src="image2.gif" width="624" height="788" alt="" style="-aw-left-pos:0pt; -aw-rel-hpos:column; -aw-rel-vpos:paragraph; -aw-top-pos:0pt; -aw-wrap-type:inline" ></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_END5"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
        <div class="footer" style="clear:both">
            <br>
                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">5</font></p>
                <p style="margin:0pt"><a name="EDGAR_HF_F_END_2"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <br>
        </div>
        </div>
        <div style="page-break-before:always; clear:both;">
        <div class="header" style="clear:both">
            <br>
        </div>
            <p style="margin:0pt"><a name="EDGAR_PAGE_START6"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; text-decoration:underline">Exhibit 6</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">&#xa0;</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">CONSENT</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">Dated: January 6, 2017</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:216pt"><font style="font-family:'Times New Roman'; font-size:12pt">By:</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">/s/ Melissa A. Ro</font><font style="font-family:'Times New Roman'; font-size:12pt; text-decoration:underline">sal_________</font></p>
            <p style="margin:0pt; text-indent:252pt"><font style="font-family:'Times New Roman'; font-size:12pt">Melissa A. Rosal</font></p>
            <p style="margin:0pt 0pt 0pt 180pt; text-indent:72pt"><font style="font-family:'Times New Roman'; font-size:12pt">Vice President</font><font style="font-family:'Times New Roman'; font-size:12pt"> </font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-align:justify"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <p style="margin:0pt; text-indent:36pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
        <div class="footer" style="clear:both">
            <br>
                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">6</font></p>
                <p style="margin:0pt"><a name="EDGAR_HF_F_END_2"></a><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <br>
        </div>
        </div>
        <div style="page-break-before:always; clear:both;">
        <div class="header" style="clear:both">
            <br>
        </div>
            <p style="margin:0pt; text-align:center"><a name="EDGAR_PAGE_START7"></a><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold; text-decoration:underline">Exhibit 7</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">U.S. Bank National Association</font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Statement of Financial Condition</font></p>
            <h1 style="margin:0pt; text-align:center; page-break-after:avoid"><font style="font-family:'Times New Roman'; font-size:11pt; font-weight:bold">As of 9/30/2016</font></h1>
            <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
            <table cellspacing="0" cellpadding="0" style="border-collapse:collapse; margin-left:0pt; width:439.35pt">
                <tr style="height:15.75pt">
                    <td colspan="3" style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom">
                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">($000&#39;s)</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:center"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">9/30/201</font><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">6</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Assets</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:14.85pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Cash and Balances Due From Depository Institutions</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">$</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">23</font><font style="font-family:'Times New Roman'; font-size:12pt">,</font><font style="font-family:'Times New Roman'; font-size:12pt">641</font><font style="font-family:'Times New Roman'; font-size:12pt">,</font><font style="font-family:'Times New Roman'; font-size:12pt">632</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Securities</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">109,767,226</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Federal Funds</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">38,946</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Loans &amp; Lease Financing Receivables</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">272,221,647</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Fixed Assets</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">5,761,293</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Intangible Assets</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">12,599,811</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Other Assets</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:0.75pt; padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">24,370,650</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Total Assets</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">$</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">448,401,205</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Liabilities</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Deposits</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">$</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">345,417,164</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Fed Funds</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">1,412,924</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Treasury Demand Notes</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">-</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Trading Liabilities</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">1,823,679</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Other Borrowed Money</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">36,430,473</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Acceptances</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:6pt">
                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
                    </td>
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:60pt">
                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">-</font></p>
                    </td>
                </tr>
                <tr style="height:15.75pt">
                    <td style="padding-left:5.4pt; padding-right:5.4pt; vertical-align:bottom; width:340.95pt">
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">13,542,899</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">402,427,139</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Equity</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Common and Preferred Stock</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">18,200</font></p>
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                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Surplus</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">14,266,915</font></p>
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                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Undivided Profits</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">30,877,711</font></p>
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                        <p style="margin:0pt; text-indent:24pt"><font style="font-family:'Times New Roman'; font-size:12pt">Minority Interest in Subsidiaries</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">811,240</font></p>
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                        <p style="margin:0pt; text-indent:48pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">Total Equity Capital</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">$</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">45,974,066</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p>
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                        <p style="margin:0pt"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">$</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:'Times New Roman'; font-size:12pt; font-weight:bold">448,401,205</font></p>
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                <p style="margin:0pt; text-align:center"><a name="EDGAR_HF_F_START_1"></a><font style="font-family:'Times New Roman'; font-size:12pt">7</font></p>
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<DOCUMENT>
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<DESCRIPTION>CERTIFICATION OF FIDUCIARY POWERS
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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>image3.gif
<DESCRIPTION>AMERCO LOGO
<TEXT>
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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>image4.gif
<DESCRIPTION>DLA PIPER LOGO
<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
