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Markel Motorcycle Insurance Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
7 Customer Comments & Reviews - see all comments
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Markel is a large specialty insurer founded in 1930 and headquartered in Richmond, Virginia. The company has 45 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.
 
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How is Markel rated?

Breakdown

4.8/5
Coverage and Additional Benefits
4.5/5
Financial Strength
4.5/5
Discounts
4.5/5
Claims and Reputation

Overall Rating: 4.6 / 5 (Excellent)

Markel is an excellent choice for motorcycle insurance. As an well-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 Additional Benefits - 4.8 / 5

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
Uninsured/Underinsured Motorist
Additional Coverage
Accessories and Custom Parts
Passenger Coverage
Roadside Assistance
Uninsured Motorist Property Damage
Other Specialty Coverage
Trailer coverage. Markel also covers touring motorcycles and trikes.
Rental Reimbursement
Yes
Types of Vehicles Covered
Scooters
Classic/Custom Motorcycles
Trail Bikes
Mopeds
Street-Sport Bikes
High Performance

Markel Pricing and Discounts

Discounts - 4.5 / 5

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.
Discounts
Training Course
Multi Bike
Other Discounts
Anti-Theft Devices
Anti-Lock Brakes

Markel Financial Strength

Financial Strength - 4.5 / 5

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

Claims and Reputation - 4.5 / 5

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 is not as big as some of the other major players in the motorcycle insurance space, 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, or one of the hundred other specialty products they provide in both a commercial and personal space. What's much more significant is the relative absence of complaints about Markel in an industry, such as motorcycle insurance, 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
http://www.markelmotorcycleinsurance.com
Headquarters
4521 Highwoods Parkway, Glen Allen, VA 23060, Glen Allen, VA, 23060

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7 Customer Comments & Reviews

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M
Markel L
10/10/2022
Markel like most insurance companies runs a split organization, agents and underwriters issue policies and adjusters handle claims. Unlike most insurance, Markel has made this a toxic division: Agents and underwriters issue thin policies with more promises of coverage than exist and underwriters do intentionally poor reviews of liability expenses to be able to deny nearly all damages. Review your claims with an underwriter, and they'll tell you there is definitely coverage here, just submit all your expenses and then the adjusters lie and say there is no coverage, many times without ever reviewing your submission.

hurst1957
11/18/2021
I own several motorcycles, two of which I have had insured through Markel for over 20 years. One of them has been sitting for about three years and not used at all so I contacted Markel this evening to drop coverage on it. I am currently paying $387 annually for the two motorcycles. I was informed by dropping coverage on that one motorcycle that my annual premium would increase by about $10 MORE than I am currently paying for the two motorcycles combined. WHAT THE??????. This didn't make sense to me. Why would I be paying $10 MORE annually for one than I am currently paying for two bikes? I tried rephrasing the question to the agent at least 5 times and still got the same answer. I... Read More

poolis2cool
5/3/2020
My final synopsis that drove me away from Markel Motorcycle Insurance. First and foremost Notified on April 17 that I needed to renew my policy before the 24th of April. This is crazy for working people that are paid 2 times per month. This having been the second year in a row that my Insurance Lapsed without a reasonable notification that I needed to pay a premium. I pay yearly by the way. They have NO ONE to talk to in Customer Service outside of normal hours M-F 9-5, This one was crazy I discovered after coming in from a business trip that my insurance was NILL and couldn't do anything about it. I chose a competitor and actually got a better rate, might only be for the first... Read More

stp68202
9/25/2019
Renewal premium went up 27%, no claims, accidents or tickets, NOT acceptable, never again.

M
Mike
9/15/2019
This company truly sucks!!!!! I have been with this company for 6 years and now they want to double my rate on my motorcycle insurance. I have never filed a claim during that time with them and my credit score is over 800! Rating would be a negative number if allowed!

G
Gunter
10/15/2018
This has been the worst claims experience i have ever had with an insurance company. The quick details- I had a Polaris RZR stolen and the insurance professional referred my case to their SIU (Special Investigations Unit- fraud investigation) because i also had a car stolen in 2000 ( yes, 18 years ago). So they say they had to do more investigation because it was suspicious i had something stolen before. Well the RZR was recovered in another state about a week after stolen. The SIU agent looked at my Bill of Sale and it showed that i purchased the RZR "new" and he called Polaris and they told him my RZR was sold 4 months before (for $22k) i actually purchased it. Therefore he is suggesting... Read More

J
james s
8/28/2018
aug 28 2018 after making a claim and fighting with this company for a check from a claim on july 6 getting the check a week after they picked up the bike telling me they never received the paper work they got a week before next day certified they decided to issue the check but not the total loss paper work and said they never heard of that before. then yesterday i finally received the check for canceling the policy in the beginning of aug only because my wife called and wanted to know where it was so they decided to issue it. think two or three times before you use this company JAMES DE. SWEENEY HIGH RIDGE MO.

Top Rated
  • Instant, Personalized Motorcycle Insurance Quotes
  • Over Four Decades of Motorcycle Insurance Experience
  • Competitive Coverage at Great Prices
  • Comprehensive Protection for Your Bike and Accessories
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