Markel Motorcycle Insurance Review: Good Coverage and Rates
Markel has a nice range of extra coverages available, but you can't bundle your policy with car insurance.
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Editor's Rating
Markel Insurance is a good choice for motorcycle coverage. Its rates and coverage options are above average, though prices vary significantly from state to state. Markel offers motorcycle insurance in 48 states , along with home insurance and niche policies related to farming.
Markel motorcycle insurance: Our thoughts
Markel has a nice mix of motorcycle coverage options and affordable rates. Cost-wise, Markel insurance is slightly better than average overall, though there is substantial variation in its rates across states.
For example, Markel's rates were an impressive 56% cheaper than average among the insurers we checked, representing a savings of over $700. In Florida, on the other hand, Markel's rates were starkly more expensive, with an average price that was 60% more than competing insurers.
We appreciate that Markel rewards safe motorcyclists. With Markel, riders can save money by taking a safety course or by being claim-free for several years.
Markel has an above-average variety of coverage options. Besides the standard offerings, it allows customers to insure their trailer or get coverage for mechanical breakdowns.
The biggest downside to Markel is that you can't take advantage of a bundle discount.
Cost of Markel motorcycle insurance
Markel motorcycle insurance typically costs $707 per year. That's about 8% cheaper than the average cost among four major motorcycle insurance companies, resulting in an average savings of $48.
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Full coverage motorcycle insurance quotes
Company | Annual rate | |
|---|---|---|
| Geico | $497 |
| Markel | $707 |
| Progressive | $899 |
| Dairyland | $918 |
However, Markel's competitiveness on price varied significantly by state. In Georgia, for example, Markel offered rates 45% less expensive than the average among companies we looked at. On the other hand, Florida motorcycle riders can expect to pay almost 60% more at Markel than a typical company.
Difference between Markel's annual cost and the average rate by state
Insurance discounts at Markel
Markel offers a variety of insurance discounts to riders who use their bike safely. For example, Markel will lower your rate if you have taken a motorcycle safety course, or if you meet certain requirements for being a safe rider.
Some of Markel's best savings opportunities are for motorcycle riders with safe driving histories.
For example, if you've gone four years without a crash, Markel will also waive your deductible for your first incident. And should you ever get in an accident, Markel will waive your first at-fault accident surcharge, so long as you've had four years without an at-fault crash.
Markel provides multi-policy discounts, as well as discounts for both switching and loyalty.
One thing notably missing from Markel's discount list is a multi-policy discount for bundling your motorcycle and auto insurance policies together. Markel does not provide standard car insurance, so you can't save money by combining those policies together.
Markel motorcycle insurance discounts
- Transfer/switch discount
- Renewal discount
- Multi-bike discount
- Safe driver discount
- Safety course discount
- Anti-lock brakes discount
- Anti-theft alarm discount
- Diminishing deductible
- Accident forgiveness program
Coverages from Markel Insurance
Markel has more coverage options than the average motorcycle insurer. In addition to standard and legally required coverages like liability, comprehensive and collision coverage, Markel offers a few extra options.
For example, Markel offers riders rental reimbursement coverage, which pays for a rental vehicle while your motorcycle is being repaired after a covered incident. They also offer coverage for motorcycle trailers and mechanical breakdown coverage, both of which are fairly rare among motorcycle insurance companies.
As a specialty insurance company, Markel provides other types of insurance products including ATV insurance, classic car insurance and even farm and ferrier (professional horseshoe applier) insurance. However, Markel does not provide regular car insurance, so you can't insure your everyday car with the company.
Notable motorcycle coverages from Markel
- Roadside assistance
- Accessories
- Motorcycle trailer
- Rental reimbursement
- Mechanical breakdown
Markel Insurance reviews and ratings
Markel has average customer service among motorcycle insurers, though customer impressions are generally positive. In 2018, Markel didn't receive any consumer complaints for its personal passenger vehicle lines from the National Association of Insurance Commissioners (NAIC). However, in 2017 it had a 2.7 complaint index from the NAIC, meaning that it received 2.7 times as many complaints as expected for a company of its size.
It's worth noting that as a small insurer, Markel's complaint index is disproportionately affected by a small number of individual complaints: in 2017, it received only two complaints nationwide. Additionally, the NAIC doesn't break out motorcycle insurance as a separate category.
Markel does have strong financial stability. Financial ratings company AM Best gave it an "A" rating, meaning that Markel has an "excellent" ability to meet claim demands, even in times of high claim demand or economic downturn.
Methodology
To understand the cost of Markel motorcycle insurance, we collected motorcycle insurance quotes for 769 different locations across nine states .
Our sample rider is a 45-year-old man who rides a 2019 Harley Davidson FLHX Street Glide. He has been riding a motorcycle since he was 25 and carries the following insurance limits:
Coverage | Limit |
|---|---|
| Bodily injury | $100k/$300k |
| Property damage | $50k |
| Comprehensive | Included, $500 deductible |
| Collision | Included, $500 deductible |
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