NU Online News Service, Sept. 8, 12:39 p.m. EST

Markel American Insurance Co. and American Marine Insurance Services have launched Zero Deductible, a program that allows policyholders to eliminate deductible risk on auto, home and boat policies.

“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,” explains Andreas Diwing, managing director of Zero Deductible. “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,” Diwing adds. “Your emergency fund can be saved for real emergencies.”

Markel American, which specializes in motorcycle, watercraft, property and other unique insurance products, underwrites the program, which is administered by American Marine.

Zero Deductible is designed for policyholders who cannot get a low deductible from a primary insurer because it isn't offered or because the premium is too high. The difference between a low and high deductible plan can be as much as 40 percent, says Zero Deductible.

Special Reports /

Markel American Underwrites 'Zero Deductible' Program

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