American Marine Insurance Services and Markel American Insurance Company Launch New Zero Deductible™ Insurance Program

All owners of cars, homes and boats can now get an insurance policy that could eliminate the deductible risk on their auto, home and boat. With Zero Deductible if an accident occurs and insured's auto, home or boat policy pays the claim the insured will never have to pay a deductible to get their property repaired.

Sep 08, 2011, 03:00 ET from American Marine Insurance Services

LOS ANGELES, Sept. 8, 2011 /PRNewswire/ -- With the backdrop of 1 in 4 US consumers claiming that they could not afford a $2000 repair bill, and a growing number of consumers having increased their deductibles in the past couple of years in an effort to reduce expenses, Zero Deductible, a program launched by American Marine Insurance Services and Markel American Insurance Company (NYSE: MKL), fills a void in the marketplace. The program offers an alternative to existing insurance structures by significantly reducing out-of-pocket expenses when the unfortunate occurs.

The Zero Deductible program was specifically designed for those who cannot get a low (or no) deductible policy through our primary insurer - either because it is not available (certain insurers do not provide it) or because the premium is simply too expensive. The difference between a low and high deductible plan can be as high as 40% or more.

Zero Deductible highlights:

  • Available to anyone with a car, home and/or boat policy issued by a US insurance company.
  • Covers any driver, family member or individual as long as the claim exceeds the deductible level on primary policy and the primary carrier pays the claim.
  • No individual rating. Premium is set on a state-by-state basis.
  • 10% multi-policy discount if multiple properties are insured and an additional 10% discount at first claim-free renewal.

"Personal finance experts always recommend that you maximize your deductible to save on insurance and then transfer the savings into a cash emergency fund. Then you have the money to cover costs in case of an accident where you need to pay your deductible," says Andreas Diwing, Zero Deductible Managing Director. "This is generally good advice, but we offer an even better alternative as we allow you to lock in the savings from day one. Now you can save on the premium on your primary insurance by raising your deductible and cover it with a deductible reimbursement policy. Your emergency fund can be saved for real emergencies."

Diwing adds, "We like to challenge the common belief that a policy holder must pay a deductible in order to have their property repaired. This is simply not true anymore."

The Zero Deductible Insurance Program is administered by American Marine Insurance Services in Ojai, California and underwritten by Markel American Insurance Company, an A.M. Best "A" Rated insurer. For more information, please visit or call (855) TRY-ZERO (879-9376).

Media Contact: Andreas Diwing 1-855-879-9376 ex. 501

SOURCE American Marine Insurance Services