Volvo Financial Services expands insurance solutions with Rolling Asset Program for mixed truck fleets

Volvo Financial Services (VFS) expanded its insurance portfolio with the launch of its Rolling Asset Program, extending physical damage coverage to every make and model in a customer’s fleet. The expanded offering is designed to simplify insurance management, provide cost predictability and support fleet uptime across diverse operations.

The Rolling Asset Program is available regardless of how an asset is financed and complements VFS’ broader suite of waiver and insurance solutions focused on protecting customers’ diverse assets and financial stability.

“Fleet operators face growing complexity as mixed truck fleets become the norm,” said Peter Voorhoeve, president, Volvo Trucks North America. “The Rolling Asset Program reflects a practical approach to insurance that gives customers predictable costs, consistent coverage and the flexibility to protect their entire fleet under one program, no matter what equipment they run.”

Coverage designed for today’s mixed fleets
With the Rolling Asset Program, customers can insure all assets in their operation under a single program, reducing administrative complexity and providing consistent coverage across the fleet. The program features a flat, fixed rate for up to 72 months, with monthly payment options, no annual renewal negotiation, and certain claims that don’t impact customer loss ratios.

The new insurance program offers multiple deductible options ranging from $1,000 to $10,000, an optional windshield deductible, un- or underinsured motorist coverage, and Personal Injury Protection in select states. Optional downtime and rental reimbursement coverage is also available, along with 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 can be added alongside Physical Damage coverage.

Part of a broader protection portfolio
The launch of the Rolling Asset Program builds on Volvo Financial Services’ expanding suite of waiver and insurance solutions, which include:

• Guaranteed Asset Protection (GAP), waiving up to $50,000 between what insurance pays for total loss or unrecovered theft and loan/lease payoff balance. GAP insurance costs as little as $1 a day during the loan or lease term.
• Life Event Waiver, covering up to three months of payments when a major life event such as a physical disability, Commercial Driver’s License (CDL) loss, accidental death or critical illness occurs, up to a $25,000 total benefit.
• Total Protection (Life Event plus GAP), offering bundled coverage with a $500 customer discount.
• Equipment Protection Program (EPP), providing physical damage coverage for financed units with fixed rates for the life of the lease or loan up to 84 months, no application process, claims not impacting loss ratios, no annual renewal and no interest paid on the premium.
• Personal Accident Insurance Coverage (Accidental Death and Dismemberment) providing up to $100,000 in benefits and extendable to family and dependents, available to anyone regardless of financing with acceptance guaranteed.

Predictable costs and simplified insurance management
By locking in fixed rates for multi-year periods, the new program helps customers manage insurance costs amid ongoing volatility in the commercial trucking insurance market. The program is intended to reduce surprises at renewal, streamline budgeting and allow fleet managers to focus on operations rather than insurance administration.

“At a time when insurance costs and uncertainty continue to challenge fleet operators, the Rolling Asset Program enables customers to lock in flat, fixed physical damage rates over multi-year periods and apply that consistency across their entire fleet,” said Patrick Shannon, senior vice president, Volvo Financial Services. “Customers are able to protect their people, equipment and cash flow while simplifying insurance management.”

CAPTION: Volvo Financial Services now offers a Rolling Asset Program, extending physical damage coverage to every make and model in a customer’s fleet. The expanded offering is designed to simplify insurance management, provide cost predictability and support fleet uptime across diverse operations.