Mack Financial Services Launches Physical Damage Insurance for All Fleet Assets
Mack Financial Services now offers physical damage insurance covering any make or model in a fleet, with fixed rates for up to 72 months.
$1,000 to $10,000
$20,000
$50,000
What Happened
Mack Financial Services (MFS) has expanded its insurance portfolio with a Rolling Asset Program (RAP) that provides physical damage coverage for every make and model in a customer's fleet. The program features a flat, fixed rate for up to 72 months, monthly payment options, and claims that do not impact customer rates. Coverage is available for any asset regardless of financing.
- Guaranteed Asset Protection (GAP) waives up to $50,000 between insurance payout and loan balance, costing as little as $1 per day.
- Life Event Waiver covers up to three months of payments for major life events like disability or CDL loss, up to $25,000.
- Total Protection bundles GAP and Life Event with a $500 discount.
- Equipment Protection Program offers physical damage coverage for financed units with fixed rates and no application process.
- Personal Accident Insurance provides up to $100,000 in benefits, extendable to family.
“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.”
Why this matters
The new program simplifies insurance management for fleet owners by offering flat, fixed rates regardless of asset make or model, helping control costs and reduce administrative burden.
Terms in This Story
- GAP
- Guaranteed Asset Protection, an insurance product that covers the difference between what insurance pays and the remaining loan balance after a total loss.
- Class 8
- The heaviest class of trucks, typically used for long-haul freight, with a gross vehicle weight rating over 33,000 pounds.
- CDL
- Commercial Driver's License, required to operate large trucks and buses.
Summarised from the linked release; details can be imperfect — always verify against the original source.