American Marine, Markel Launch Deductible Reimbursement to Car, Home, Boat Owners

September 15, 2011

American Marine Insurance and Markel American Insurance Co. are now offering owners of cars, homes and boats the ability to eliminate their deductible risk.

With Zero Deductible, if an accident occurs and the insured’s auto, home or boat policy pays the claim the insured will never have to pay a deductible to get the property repaired.

One in four U.S. consumers claim that they could not afford a $2,000 repair bill and a growing number of consumers having increased their deductibles in the past couple of years in an effort to reduce expenses, according to the companies. Zero Deductible offers an alternative to existing insurance structures by 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 the 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 percent or more.

Zero Deductible highlights:

  • Available to anyone with a car, home and/or boat policy issued by a U.S. 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 percent multi-policy discount if multiple property is insured and an additional 10 percent discount at first claim-free renewal.

The Zero Deductible Insurance Program is administered by American Marine Insurance Services in Ojai, California and underwritten by Markel American Insurance Co.

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