Markel American Review & Ratings (2024)

Gain valuable insurance insights and unbiased information through our comprehensive Markel American Review. Explore the pros and cons, claims process, and customer experiences. Stay informed to make confident decisions about your insurance needs. With our trusted resource, you can navigate the complex world of insurance with ease and find the right solutions for your unique circumstances.

UPDATED: Sep 13, 2024Fact Checked

Brandon Frady

Licensed Insurance Agent

Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...

Licensed Insurance Agent

Tim Bain

Licensed Insurance Agent

Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Licensed Insurance Agent

UPDATED: Sep 13, 2024

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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

UPDATED: Sep 13, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Sep 13, 2024Fact Checked
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Markel American Insurance

Average Monthly Rate For Good Drivers

$156

A.M. Best Rating:

A

Complaint Level:

Low

Pros

  • Specialized coverage for collectors and enthusiasts, particularly for classic and antique cars.
  • Diverse insurance products, including coverage for motorcycles, boats, homeowners, and umbrella insurance.
  • Long-standing history since 1930, demonstrating stability and experience in niche markets.
  • Customer-friendly mobile app with features for claims filing and policy management.
  • Positive customer feedback on personalized service and claims resolutions.
  • Competitive discounts, including multi-vehicle, anti-theft device, safe driver, pay in full, and collector club discounts.

Cons

  • Higher-than-average pricing due to the specialized nature of coverage.
  • Limited availability of discounts for certain policy types or in specific states.
  • Occasional customer complaints about claims handling or billing issues.
  • Negative feedback on the cost of insurance policies.
  • Limited product offerings compared to standard insurance providers.
  • Some negative reviews regarding claims processing and billing.
  • Complaints reported to BBB and NAIC, indicating occasional customer dissatisfaction.

In conclusion, Markel American is a well-established insurance company that has been providing specialized coverage for high-value assets for over 50 years. With a focus on personalized service and customized coverage options, the company has earned a reputation for being a good choice for collectors, enthusiasts, and owners of unique and valuable vehicles.

If you’re looking for specialized insurance coverage for high-value assets and appreciate personalized service, Markel American is worth considering. As with any insurance provider, it’s important to compare quotes and read customer reviews before making a final decision to ensure you’re getting the best possible coverage at the most competitive price.

What You Should Know About Markel American Insurance Company

Welcome to our comprehensive Markel American Review, where we delve into the essential aspects of Markel American insurance, providing you with valuable insights and information. We cover a range of topics to help you make informed decisions about your insurance needs. We examine the pros and cons of Markel American insurance  and highlight real customer experiences.

Our unbiased analysis aims to equip you with the knowledge necessary to protect what matters most to you. Now, take the next step towards securing the right insurance coverage by entering your zip code below. Compare rates from the top insurance providers in your area and find the best match for your specific requirements.

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History and Mission of Markel American Insurance

Markel American was founded in 1930 as an insurance company specializing in niche markets. In the early years, the company primarily offered coverage for sporting events, such as horse racing and polo matches.

Over time, Markel American expanded its offerings to include coverage for high-risk drivers and specialty vehicles, including classic and antique cars.

Today, Markel American’s mission is to provide insurance solutions that are tailored to the needs of collectors and enthusiasts.

The company is committed to personalized service and long-term relationships with its customers, with a focus on understanding the unique risks and requirements of the collector car market.

In addition to insurance coverage, Markel American also provides resources and support to collectors and enthusiasts, including a quarterly magazine that features articles on classic cars, interviews with industry experts, and updates on industry news and events.

Markel American Insurance Company Insurance Coverage Options

Markel American offers a variety of insurance products and services that are tailored to the needs of collectors and enthusiasts, with a particular focus on classic and antique cars. These include:

  • Classic and antique car insuranceMarkel American specializes in insurance coverage for classic and antique cars, offering a range of coverage options that are tailored to the unique risks and requirements of these types of vehicles. Coverage options include liability, collision, and comprehensive coverage, with customizable policies that can be tailored to the specific needs of each customer.
  • Motorcycle insurance: Markel American offers coverage for a variety of motorcycle types, including cruisers, touring bikes, and sports bikes. Coverage options include liability, collision, and comprehensive coverage, as well as coverage for custom parts and equipment.
  • Boat insurance: Markel American offers coverage for a range of watercraft, including sailboats, powerboats, and personal watercraft. Coverage options include liability, collision, and comprehensive coverage, as well as coverage for custom parts and equipment.
  • Homeowners insuranceMarkel American offers homeowners insurance that is tailored to the needs of collectors and enthusiasts, with coverage options that include personal property, liability, and additional living expenses.
  • Umbrella insurance: Markel American also offers umbrella insurance, which provides additional liability coverage beyond the limits of the primary insurance policy. This type of insurance is especially important for collectors and enthusiasts who may have high-value assets that need to be protected.

Overall, Markel American offers a range of insurance products and services that are tailored to the unique needs and risks of collectors and enthusiasts, with a focus on personalized service and customizable policies.

States Where Markel American Offers Insurance Coverage

Markel American offers insurance in many states throughout the United States. The states where the company currently offers insurance include:

Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin

It’s worth noting that the specific products and coverage options offered by Markel American may vary by state, so it’s important to check with the company or a local agent to confirm what types of insurance are available in your area.

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Markel American Insurance Company Insurance Rates Breakdown

The cost of insurance from Markel American can vary widely depending on some factors, including the type of vehicle or property being insured, the coverage options selected, and the customer’s location and driving record.

As a specialty insurance provider, Markel American typically offers coverage that is priced higher than standard insurance policies, but the added benefits of customized coverage and personalized service may justify the higher cost for some customers.

To get a more specific idea of the cost of insurance from Markel American, it is best to obtain a quote directly from the company.

Customers can request a quote online by visiting the Markel American website or by contacting a local agent directly. It’s important to compare quotes from multiple insurance providers to ensure that you are getting the best possible coverage at the most competitive price.

Markel American Insurance Company Discounts Available

Markel Corporation, a subsidiary of Markel American offers an array of Markel Corporation car insurance discounts to policyholders who meet certain criteria, such as maintaining a clean driving record or bundling multiple policies.

These include:

  • Multi-vehicle discount: Customers who insure more than one vehicle with Markel American can qualify for a multi-vehicle discount. This can result in significant savings on their overall insurance costs.
  • Anti-theft device discount: Customers who install anti-theft devices on their vehicles can qualify for a discount on their insurance premiums. This includes things like alarms, tracking devices, and immobilizers.
  • Safe driver discount: Customers who have a good driving record with no accidents or violations may be eligible for a safe driver discount.
  • Pay in full discount: Customers who pay their annual insurance premium in full may be eligible for a discount on their overall insurance costs.
  • Collector club discount: Markel American has partnerships with some collector car clubs and associations. Customers who are members of these clubs may be eligible for a discount on their insurance premiums.

It’s important to note that not all discounts are available in all states or for all types of insurance policies. To find out which discounts may be available for your specific situation, it’s best to contact a Markel American agent directly.

Gaining Insight Into Markel American Claims Procedure

Ease of Filing a Claim

Markel American insurance offers various methods for filing claims to provide convenience for its policyholders. Customers can file claims online through the company’s website, making it a hassle-free and time-saving option. Alternatively, they can also file claims over the phone, allowing for personalized assistance during the process.

Additionally, Markel American provides mobile apps that streamline the claims filing process, offering policyholders the flexibility to submit claims using their mobile devices.

Average Claim Processing Time

The average claim processing time with Markel American may vary depending on the nature and complexity of the claim. However, the company is known for its efficient claims handling and strives to process claims in a timely manner. Policyholders can expect prompt attention to their claims, with the company working diligently to ensure a swift resolution.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback on claim resolutions and payouts is generally positive for Markel American insurance. Many policyholders have reported satisfactory experiences with the company’s claims process, highlighting the company’s commitment to delivering fair and prompt claim settlements.

While there may be occasional negative reviews, overall customer sentiment indicates that Markel American is dedicated to providing a reliable and responsive claims service.

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Markel American Tech-Forward Approach: Redefining Insurance Standards

Mobile App Features and Functionality

Markel American offers a mobile app with a range of features and functionality to enhance the overall customer experience. The app allows policyholders to access their insurance information, view policy details, make premium payments, and, most importantly, file claims directly from their mobile devices. The user-friendly interface and convenience of the app make managing insurance policies and claims effortless.

Online Account Management Capabilities

Policyholders can take advantage of Markel American’s robust online account management capabilities. Through the company’s website, customers can log in to their accounts, review policy documents, update personal information, make payments, and track the progress of their claims. The online portal provides a secure and accessible platform for policy management.

Digital Tools and Resources

Markel American offers various digital tools and resources to assist policyholders in understanding and managing their insurance coverage effectively. These tools may include educational materials, articles, FAQs, and calculators to help customers make informed decisions about their insurance needs.

The availability of these digital resources demonstrates Markel American’s commitment to providing valuable information and support to its policyholders.

How Markel American Insurance Company Ranks Among Providers

Markel American Insurance operates in a niche market, providing specialized coverage for collectors and enthusiasts. While the company caters to unique needs, it faces competition from other insurers offering similar coverage. Here are some of Markel American’s main competitors:

  • Hagerty Insurance: Specializes in classic car insurance and is known for tailored coverage options for vintage and collector vehicles.
  • Grundy Worldwide: Offers specialized coverage for classic cars, motorcycles, and other collector vehicles with a focus on agreed value policies.
  • Chubb Collector Car Insurance: Provides insurance solutions for high-value collector cars, offering comprehensive coverage and personalized service.
  • American Modern Insurance: Offers coverage for classic cars, motorcycles, and other collector vehicles, with customizable policies to meet unique needs.
  • Condon Skelly: Specializes in classic car insurance, providing coverage options for various types of collector and vintage vehicles.

In the niche market of collector and enthusiast insurance, Markel American faces competition from insurers like Hagerty, Grundy Worldwide, Chubb Collector Car Insurance, American Modern Insurance, and Condon Skelly. Each competitor brings its own strengths and tailored coverage options, making it essential for consumers to explore and compare policies to find the best fit for their unique needs and valuable assets.

Customer Feedback for Markel American Insurance

Customer reviews of Markel American are generally positive, with many customers praising the company’s personalized service and specialized coverage options.

While most customer reviews of Markel American are positive, there are a few negative reviews to be aware of as well. Some customers have reported issues with claims handling or billing, while others have expressed frustration with the cost of the company’s insurance policies.

Overall, if you’re looking for specialized insurance coverage for high-value assets like collector cars, motorcycles, or boats, Markel American is worth considering.

It’s always a good idea to read customer reviews and compare quotes from multiple insurance providers to ensure you’re getting the best possible coverage at the most competitive price.

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Frequently Asked Questions

What is Markel American Insurance Company?

Markel American Insurance Company is a subsidiary of Markel Corporation, a diversified financial holding company that offers various insurance products, including life insurance.

What types of life insurance policies does Markel American offer?

Markel American offers both term and permanent life insurance policies./.

What is term life insurance?

Term life insurance provides coverage for a specified period, typically 10 to 30 years, and pays a death benefit if the policyholder dies during the term. If the policyholder outlives the term, the policy expires and no benefits are paid.

What is permanent life insurance?

Permanent life insurance provides coverage for the entire life of the policyholder and includes a savings component that can accumulate cash value over time. There are different types of permanent life insurance policies, including whole life, universal life, and variable life.

What is the underwriting process for life insurance with Markel American?

Markel American uses a thorough underwriting process that involves reviewing the applicant’s medical history, lifestyle, and other factors to determine their insurability and premium rates.

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Brandon Frady

Licensed Insurance Agent

Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...

Licensed Insurance Agent

Tim Bain

Licensed Insurance Agent

Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

Reviews
for Markel American Insurance Company

1.83 (17 reviews)
1
November 25, 2020

cruz5759

Terrible Experience; Deceptive Trade Practices; Stay Away

I own a 2005 Sea Ray. I have an insurance policy through the issuing company Markel American Insurance Company. About two months ago, saltwater got into the engine in the boat and caused it to seize up and stop functioning. The main reason that I got insurance through this company is because they advertise that their policy does not have mechanical breakdown exclusion. Even on the website, there is an example: "Mechanical Breakdown Inboard ...
I own a 2005 Sea Ray. I have an insurance policy through the issuing company Markel American Insurance Company. About two months ago, saltwater got into the engine in the boat and caused it to seize up and stop functioning. The main reason that I got insurance through this company is because they advertise that their policy does not have mechanical breakdown exclusion. Even on the website, there is an example: "Mechanical Breakdown Inboard cylinder engine. Evidence of water intrusion in 2 cylinders. This engine is raw-water cooled. Saltwater circulating through the engine caused corrosion creating holes in the valve guide bores. A close up below of the corrosion: If your policy excludes machinery breakdown chances are you could be paying for a new engine out of your own pocket. Unlike most, our policy does not have mechanical breakdown exclusion. " At this point, the insurance company has sent us a formal letter denying our claim and refusing to pay anything. They first tried to say that the damage was caused by faulty manifolds and risers and that they need to be replaced every 5-6 years and that they would be denying our claim. They never even bothered to ask if we had replaced them recently. We in fact had replaced them about 3 years ago and we sent them a document showing this. Then they said they would reexamine the case, but after a while, they still decided to deny our claim and basically cited "corrosion" as the reason, even though in their advertising in the example above, it clearly shows that this is something they will cover. The way they advertise their coverage on the website clearly suggests that our case is something they would cover. However they are refusing to do so and to me this is a plain case of deceptive trade practices and false advertising. Also, the senior claims examiner failed to return multiple calls and messages from both myself as well as my mechanic. Terrible experience with this company. I would advise to stay away from them and to not trust their advertising.
1
June 10, 2020

HonestReviewer1977

SCAMMERS MONEY HUNGRY PIGS

STAY AWAY. They only want your money and premiums increases every year for no reason. Difficult to receive money from this scamming company after an accident.
1
March 30, 2020

Stuartrich

Horrible experience with claim

Wast of money. Price of insurance was not bad but once u make a claim they will try to make u feel like a liar and do anything they can to not pay. Horrible experience
2
September 25, 2019

STststs

Not for me.

Had motorcycle insurance with Markel for the past year. When renewal came up, I was shocked, premium went up 27%, no accidents, claims or tickets, riding about 3k miles a year. Are they kidding, how can they stay in business, I could easily stay with them if the rates would be the same but...went with another insurance, way, way cheaper and same limits. I guess Markel does NOT want my $$$ and that's OK, there are hundreds of companies to insure w...
Had motorcycle insurance with Markel for the past year. When renewal came up, I was shocked, premium went up 27%, no accidents, claims or tickets, riding about 3k miles a year. Are they kidding, how can they stay in business, I could easily stay with them if the rates would be the same but...went with another insurance, way, way cheaper and same limits. I guess Markel does NOT want my $$$ and that's OK, there are hundreds of companies to insure with. So, maybe you're OK with Markel, just watch your premium go through the roof when renewal comes up.
5
January 9, 2019

James2220

Great

Great insurance gets to you as soon as you need help. Also has great insurance deals for the policies and great pricing.
1
September 26, 2018

Nikkidd

I would not expect them to cover you without a fight

Great price compared to Progressive, Geico, and many others, pretty easy application on line, bad at paying claims and making you feel like a liar. I am going on 40 days still waiting to see if my claim is going to be accepted or denied and this is after they have interviewed me and witnesses and companies not even involved.
4.5
May 29, 2017

okaywilldo

Yep Yepp Yepppppppppppppp

It was great! I had a lot of time reviewing the details about this company. It was very very fun. Thanks a lot everyone!
4
January 12, 2017

ekaratzas

Pain free motorcycle coverage

Markel has been easy to work with and they include some good benefits including 24-hr roadside assistance and some decent discounts at certain dealerships.
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