Mack Financial Services now offers physical damage insurance for every make and model in a customer’s fleet.
The new MFS Rolling Asset Program offers flexible coverage designed to protect all assets in a customer’s operation.
RAP features:
- A flat, fixed rate for up to 72 months
- Monthly payment options
- Claims that do not impact customer rates
- No annual renewal negotiation
Coverage is available for any asset regardless of financing.
Predictable Insurance Budgeting
“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,” said Jonathan Randall, president of Mack Trucks North America, in a news release.
“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.”
RAP offers 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.
Bundle With Other Mack Financial Services
RAP builds on MFS’ expanding suite of waiver and insurance solutions. 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 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, 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.
“It’s not just your loan, your TRAC lease or FMVs that they offer,” said Danielle Riley, finance manager for Bruckner Truck & Equipment.
“From a customer standpoint, you’re getting a one-payment offering. Having a bundled service is definitely a big selling point to a customer.”
“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,” said 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.”
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