Mack Financial Services (MFS) expanded its insurance portfolio this week to include physical damage coverage for every make and model in a customer’s fleet.
The new feature, called a Rolling Asset Program (RAP), offers flexible coverage designed to protect all assets in a customer’s operation. Mack says RAP features a flat, fixed rate for up to 72 months, monthly payment options, claims that do not impact customer rates and no annual renewal negotiation. Coverage is available for any asset regardless of financing.
“Mack Financial Services’ Rolling Asset Program delivers simple and predictable protection of every asset in the fleet, with fixed rates that give our customers better budgeting certainty,” says Jonathan Randall, president of Mack Trucks North America. “Because RAP is available regardless of how an asset is financed, it simplifies insurance management and supports fleet uptime, all while backed by MFS’ customer service support.”
[RELATED: Mack TerraPro gets updated digital dash display]
Mack says the program features multiple deductible options ranging from $1,000 to $10,000, optional windshield deductible, uninsured or underinsured motorist coverage, Personal Injury Protection in select states, optional downtime/rental reimbursement and a towing coverage option of $20,000 for Class 8 assets and $10,000 for trailers and other class vehicles. Non-Trucking Liability in select states is available alongside Physical Damage coverage.
Additionally, the company reports the launch of RAP builds on MFS’ expanding suite of waiver and insurance solutions designed to protect customers, their business and their financial peace of mind. The truck maker says current offerings include:
- Guaranteed Asset Protection (GAP) waives up to $50,000 between what insurance pays for total loss or unrecovered theft and loan/lease payoff balance. GAP Waiver costs as little as $1 a day during the loan or lease term.
- Life Event Waiver, covering up to three months of payments upon the occurrence of a major life event, such as a physical disability, Commercial Driver’s License (CDL) loss, accidental death or critical illness. Offers up to a $25,000 benefit.
- Total Protection (Life Event plus GAP), which is bundled coverage with a $500 customer discount.
- Equipment Protection Program (EPP), physical damage coverage for financed units with fixed rates, no application process and claims not impacting loss ratios, for finance terms up to 84 months
- Personal Accident Insurance (Accidental Death & Dismemberment) for anyone regardless of financing, providing up to $100,000 in benefits and extendable to family and dependents.
“At a time when truck insurance costs continue to rise, MFS is in a unique position to provide customers with competitive flat, fixed rates on physical damage coverage over multi-year periods, now across their entire fleets, regardless of make,” says Patrick Shannon, president of MFS North America. “When combined with our GAP, Life Event and Personal Accident offerings, our customers’ assets and cash flow are better protected.”
