Markel Motorcycle Insurance Review


Rating: 9.2 / 10 (Excellent)
Disclosure: We receive advertising revenue from this partner. 
Learn more.
Markel is a large specialty insurer founded in 1930 and headquartered in Richmond, Virginia. The company has 40 years experience in motorcycle insurance and does business in 48 states. Its motorcycle coverage was designed from the ground up to be specific to the needs of motorcyclists; the company does not insure cars or trucks.

How is Markel rated?

Breakdown

10/10
Coverage and Benefits
9/10
Customer Experience
9/10
Pricing and Discounts
9/10
Financial Strength

Overall Rating: 9.2 / 10 (Excellent)

Markel is an excellent choice for motorcycle insurance. As an old-established specialty insurer, the firm has a lot of experience in putting together insurance packages for very specific markets. This experience shows in its comprehensive approach to motorcycle insurance. Its coverage suite has been built from the ground up with motorcyclists in mind. The company has solid financials. Since the company is one of the smaller carriers in the United States, there isn't much information available about its customer service--but in this industry, the relative absence of complaints speaks well of the firm's record of service to its policyholders. Markel also offers a number of discounts and incentives that can substantially cut the cost and improve the benefits of its policies.

Markel Coverage and Benefits

Coverage and Benefits - 9.5 / 10

Markel offers a full range of the usual motorcycle coverages plus some additional coverages that aren't as common. The company insures accessories and allows customers to set their own coverage limits based on a cost-per-$1000 of value. Accessories are defined to include saddle bags (but not their contents), custom fairings, windshields, light bars, pegs, radios, helmets, custom paint and chrome, and riding apparel. Markel also offers un- and underinsured motorist property damage coverage, medical payments insurance, trailer coverage, and roadside assistance. This unusually complete suite of coverages seems designed specifically for motorcyclists and their real-world riding habits.
Coverage
Liability
Collision
Comprehensive
Customized Motorcycle Parts
Uninsured/Underinsured Motorist
Additional Coverage
Accessories and Custom Parts
Passenger Coverage
Roadside Assistance
Uninsured Motorist Property Damage
Other Specialty Coverage
Trailer coverage.
Rental Reimbursement
Yes
Types of Vehicles Covered
Scooters
Classic/Custom Motorcycles
Minibikes
Trail Bikes
Mopeds
Street-Sport Bikes
High Performance
Motocross

Markel Pricing and Discounts

Pricing and Discounts - 9 / 10

Markel offers a number of discounts in addition to those mentioned here. These include a renewal discount, a safe driver discount for people who haven't had more than one minor violation in the last three years, an accident forgiveness benefit whereby riders who've been accident-free for four consecutive years will have their at-fault surcharge waived for their first at-fault claim, and a 10% transfer discount for switching to Markel. The company also offers a diminishing deductible for people who have been accident free for four years. The deductible is reduced by 25% for each subsequent consecutive accident-free year and is effectively waived completely after four years. In addition, the company offers a $5 Visa gift card for all policyholders who refer someone for a quote.
Discounts
Training Course
Multi Bike
Other Discounts
Anti-Theft Devices
Anti-Lock Brakes

Markel Financial Strength

Financial Strength - 9 / 10

Markel stresses the long term perspective in its financial management. Its balance sheet is conservatively managed and has earned very strong ratings from the major financial analysis firms.
Company Type
Underwriter
Year Founded
1930
Standard & Poor's Financial Rating
A
Moody's Financial Rating
A2
AM Best Financial Rating
A

Markel Customer Experience

Customer Experience - 9 / 10

Markel has an A+ rating from the BBB and no rating at all on Trustpilot. It's NAIC complaint ratio appears high, but in this case that number is grossly misleading. The ratio is based on only two complaints, but because Markel a smaller company, those two complaints cause the ratio of complaints to Markel's share of the US passenger vehicle insurance market to be abnormally high. Further, it's unknown whether those two complaints concern the company's motorcycle insurance business. What's much more significant is the relative absence of complaints about Markel in an industry where customer comments on public forums skew strongly negative.
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
1
Trust Pilot Rating
7.4 out of 10
NAIC Complaint Ratio 2017
28.33
NAIC Total Complaints 2017
2
Date Collected
2018-05-21

Company Profile

Full Name
Markel Motorcycle Insurance
Company Website
Headquarters
N14 W23800 Stone Ridge Drive, Waukesha, WI, 53188

Leave a comment for Markel Motorcycle Insurance
Minimum 12 words.
 No maximum length.
* What's Your Rating?
To make this comment as helpful as possible for our community, please provide at least 2 sentences.

Our Partner
9.2 / 10
  • Up to $30,000 in accessory coverage
  • Diminishing deductible
  • Accident forgiveness
  • Roadside assistance and trip interruption
  • Flexible deductibles
  • Mechanical breakdown coverage
  • Rental reimbursement
  • Policies start at $50
  • Save up to 35% with multiple discounts