Markel policies are inexpensive, but how does the company perform when it comes time to file a claim?

 

 

Markel motorcycle insurance policies are available to riders in Alaska, California, Florida, Georgia, Michigan, North Dakota, South Dakota, and Vermont. Markel’s website claims that premiums start as low as $50 per year. This low price may be appealing, but does Markel provide quality coverage?

Our team has closely examined a number of vehicle insurance providers, compiling reviews of the best motorcycle insurance and best auto insurance providers on the market. To inform our ratings, we look at everything from policy options to customer reviews. See how Markel compares to the industry’s top providers in this Markel motorcycle insurance review.

If you’re looking for cheap motorcycle insurance, a good way to find the best rate is to compare costs from multiple providers. Markel is one place to request a quote, but you should also compare prices from some of our top providers by using the free tool below.

 

In this article:

Markel Company Overview

Markel was founded in 1930 and is currently headquartered in Richmond, Virginia. It is a large holding company with several branches for insurance, reinsurance, and investment operations. Markel Specialty is the division that deals in specialty insurance products, such as coverage for schools, museums, small businesses, farms, horses, all-terrain vehicles, boats, and motorcycles.

Markel has an A financial strength rating from AM Best and is valued in the billions of dollars, according to Seeking Alpha.

 


 

Markel Motorcycle Insurance Coverage

Markel motorcycle insurance coverage options include standard options such as liability, collision, comprehensive, uninsured/underinsured motorist, medical payments, and personal injury protection. Comprehensive and collision policies both include $1,000 in accessories coverage, and this limit can be raised up to $30,000 for a fee.

To further protect yourself, your passengers, and your bike, additional coverage options for Markel motorcycle insurance policies include:

  • Guest passenger insurance
  • Trailer coverage
  • Funeral expense coverage
  • Mechanical breakdown insurance (MBI)

All Markel policies can also include the following benefits at an added cost:

  • Roadside assistance: Includes 24-hour emergency lockout, tire, and battery jump-start services provided through the Nation Safe Drivers Auto Club Roadside Assistance Program
  • Trip interruption: Provides reimbursement for meal and lodging expenses if you get into an accident far from your home and need to stay overnight while your bike is fixed
  • Rental reimbursement coverage: Provides reimbursement for a rental vehicle while your bike is in the shop for repairs

Markel has comprehensive policy options and high liability policy limits. However, when requesting quotes from Markel, we found that the insurer does not offer coverage for many bike models and that it does not offer policies to riders with poor traffic records.

 


 

Cost Of Markel Motorcycle Insurance

The cost of an insurance policy is different for every person. This is true of both auto and motorcycle insurance. Factors that impact your final premium can include:

  • Age
  • Driving history
  • Location
  • Type of motorcycle (standard, sport, or touring)
  • Value of motorcycle
  • Motorcycle use (recreational or daily use)

We reached out for several Markel motorcycle insurance quotes to give you an idea of what a policy with Markel can cost, though your own prices may vary. As mentioned above, we were unable to find offers for a high-risk rider that had an at-fault accident in the last three years.

Type of Rider Motorcycle Coverage Level Markel Motorcycle Insurance Annual Cost

Low-risk:

No accidents or tickets

in the past three years

2020 Yamaha WR250R (Standard) Minimum $175
Full Coverage $624

2020 Suzuki GSX1300

(Sport)

Minimum $293
Full Coverage $4,286
 

The prices above are quite competitive, especially for a full coverage policy on a standard motorcycle. However, the full coverage quote for a sports bike was especially high—the quotes we’ve received from Markel’s competitors are typically about half this cost.

Markel Motorcycle Insurance Discounts

As with many providers, Markel offers a number of discount opportunities. These may help lower your premiums even further. Markel motorcycle insurance discounts include:

  • Anti-lock brakes discount
  • Anti-theft devices discount
  • Multi-unit discount
  • Renewal discount
  • Safe driver discount
  • Safety course discount
  • Transfer discount

Other ways to save include an accident forgiveness policy and a diminishing deductible. If you remain accident-free for four years, the at-fault surcharge for your next at-fault loss is waived. Also, your deductible is reduced by 25 percent for each accident-free year. The deductible is reduced to $0 after four accident-free years.

 


 

Markel Motorcycle Insurance Reviews

Markel has an accredited A+ rating from the BBB. Its customer review score is a bit lower, standing at 1.29 out of 5 stars. However, this rating is based on fewer than 20 reviews, which is not a good sample size considering that Markel is a multi-billion-dollar company with many customers.

There are not many positive Markel motorcycle insurance reviews online, but this is not necessarily an indication of poor service. Many people do not take the time to write a review on the BBB website unless it is a complaint. A good BBB customer review score can be an indicator of exceptional service, but a low score may not be a major red flag. 

It’s important to look at the number of poor reviews and complaints filed. In Markel’s case, there have been less than 10 complaints filed through the BBB in the past 3 years, which is exceptionally low for an insurance company. Policyholders who are upset with Markel’s service cite a slow claims process, getting dropped after filing a claim, and sudden rate increases. The two Markel motorcycle insurance reviews below are examples of this feedback:

“They are incredibly slow when it comes to resolving settlements… My claims examiner has lied to me several times now about when I will get my check, and still nothing.”

- Chase C. via BBB

“[I] purchased three motorcycle policies last year. The premiums came in this year and they are charging $****** additional dollars. Been riding for 50-plus years, no accidents, [and] only ride 6 months out of the year. Bikes are garaged, have an alarm system, and [Markel] cannot give me any legitimate reason for such an increase.”

- Marianne B. via BBB

 


 

Our Take On Markel: 3.5 Stars

Markel motorcycle insurance is certainly worth considering if you live in one of the eight states the company serves. If you have a good driving record (no at-fault accidents) and need inexpensive coverage, Markel should be on your list for a quote. Policies are affordable and can include valuable benefits.

However, it may be difficult for high-risk riders to find coverage with Markel. Additionally, only select makes and models of motorcycles can be covered. The only way to find out whether you’re eligible for a policy is to reach out and request a personalized quote.

The negative Markel motorcycle insurance reviews and lack of positive customer feedback indicate that the company does not have perfect customer service. However, the relatively small number of poor reviews is a good sign that especially bad service is the exception rather than the rule.

 


 

Our Recommendations For Motorcycle Insurance

While Markel is a good place to start your motorcycle insurance search, it shouldn’t be the only company you consider. If you’re interested in alternatives, or if Markel motorcycle insurance is not available in your state or for your bike, consider policies with Geico or State Farm. Or, request free quotes from multiple top providers at once by using the tool below.

 

Geico: 4.5 Stars

While best known for car insurance, Geico also offers motorcycle coverage. Geico policies are among the least expensive for minimum coverage, and the insurer has a strong reputation among customers. In addition to being rated A++ for financial strength by AM Best, Geico has an A+ rating from the BBB.

Geico provides standard motorcycle insurance policies as well as additional coverage for custom parts, accessories, and safety equipment. Learn more by reading our full Geico motorcycle insurance review.

State Farm: 4.5 Stars

State Farm is another insurer mostly known for its car insurance but that also offers motorcycle coverage. Unlike Geico, State Farm operates through a network of local agents. While this can make the sign-up process a little longer, it also means that all customers have access to dedicated agents to walk them through choosing policies and filing claims.

State Farm has an A+ rating from the BBB and is known for quick and reliable service. Learn more by checking out our complete State Farm motorcycle insurance review.