Mack Financial Services Expands Insurance Portfolio
Mack Financial Services (MFS) has broadened its insurance offerings to now include physical damage coverage for every make and model within a customer’s fleet.
Introducing the Rolling Asset Program (RAP)
The newly introduced Rolling Asset Program (RAP) provides flexible coverage aimed at safeguarding all assets within a customer’s operations. Mack highlights that RAP features a flat, fixed rate for up to 72 months, with monthly payment options. Importantly, claims will not affect customer rates, and there is no need for annual renewal negotiations. Coverage is applicable to any asset, regardless of its financing arrangements.
Customer Benefits and Budgeting Certainty
“Mack Financial Services’ Rolling Asset Program ensures straightforward and reliable protection for every asset in the fleet, with fixed rates offering our customers improved budgeting confidence,” states Jonathan Randall, president of Mack Trucks North America. “Since RAP is available irrespective of how an asset is financed, it simplifies insurance oversight and enhances fleet operational efficiency, all supported by MFS’ customer service.”
Diverse Deductible Options and Additional Coverages
The program includes multiple deductible choices, ranging from $1,000 to $10,000, along with an optional windshield deductible, uninsured/underinsured motorist coverage, and Personal Injury Protection in specific states. It also features optional downtime/rental reimbursement and towing coverage—up to $20,000 for Class 8 assets and $10,000 for trailers. Non-Trucking Liability is available in select states alongside Physical Damage coverage.
Building on Existing Offerings
The launch of RAP is part of MFS’ growing array of waiver and insurance options designed to safeguard customers, their businesses, and their financial wellbeing. Current offerings include:
- Guaranteed Asset Protection (GAP): Waives up to $50,000 to cover the difference between insurance payouts for total loss or unrecovered theft and loan/lease payoff balances, available for as little as $1 a day.
- Life Event Waiver: Covers up to three months of payments during significant life events, such as physical disabilities or accidental death, with benefits up to $25,000.
- Total Protection: A bundled offering combining Life Event and GAP coverage with a $500 discount.
- Equipment Protection Program (EPP): Offers fixed-rate physical damage coverage for financed units, with no application necessary and claims not affecting loss ratios for finance terms up to 84 months.
- Personal Accident Insurance: Provides benefits up to $100,000 for anyone, extending to families and dependents.
Competitive Flat Rates Amid Rising Insurance Costs
“With truck insurance rates on the rise, MFS is uniquely positioned to offer customers competitive flat, fixed rates on physical damage coverage for their entire fleets, regardless of make,” remarks Patrick Shannon, president of MFS North America. “When combined with our GAP, Life Event, and Personal Accident options, our customers’ assets and cash flow are better safeguarded.”
