We Recommend Hiscox
Today, Markel Corporation owns many subsidiaries servicing different niches and businesses in the United States and Europe. Aside from its insurers, Markel also owns several underwriting companies.
One of the bigger subsidiaries is Markel Insurance Company, a specialty insurer. Some of the niches serviced by Markel Insurance Company include childcare centers and camps, historic homes, farms, nonprofit organizations, museums and schools. It’s also the primary insurer of ambulances in the United States.
Policies are sold through independent agencies throughout the country.
Insurance Products
Property, Casualty & Liability
- Property and liability insurance for groups. Camps, childcare centers, fitness programs, sports programs for amateurs and youths, schools, senior living programs, and nonprofit groups.
- Business insurance for a variety of small business needs. Some of the niches include event planners, program administrators, financial advisers, and rental operators for hard-to-insure equipment like rock walls or bungee jumping rigs.
- Property and casualty insurance for ambulances, farms, museums, and fine arts buildings. Markel is particularly well-known for its horse insurance, which the company has offered for more than 50 years to commercial farms, racing facilities, rodeo hosts, and private horse owners.
Workers Compensation
Aside from the property, casualty and liability insurance products sold by Markel, the company also provides workers compensation policies for small and medium businesses. These products are available in 35 states, and interested businesses can apply online.
Claims
Markel claims can be handled by email or over the phone. To file a claim by phone, call 1-800-362-7535 and follow the instructions to reach the correct department. Claims can also be filed via email by sending details of the loss to newclaims@markelcorp.com.
When filing, you will need to complete the information on the Incident Report Form, which is linked from the Markel Insurance website. This form includes details of the situation, including names and contact information of everyone involved, and photographs when appropriate. The company also recommends that you copy all correspondence related to the incident, such as reports or statements, and forward them to Markel.
Claims can be filed 24/7. Filing instructions are also listed on the back of each policy card.
Consumer Research and Complaints
Markel Insurance Company has been Better Business Bureau (BBB) accredited since 2001, and currently has an A+ rating. In the past three years, only 7 complaints have been filed, three of which have been closed in the last 12 months.Of the complaints listed, four regard problems with products and services, and three are due to billing and collection issues.
Financial Strength
| Rating Company | Grade | Financial Outlook |
|---|---|---|
| AM Best | A | Stable |
| Fitch | A+ | Stable |
| S&P | A | Stable |
Bottom Line
Markel is a niche insurance company that offers specialty coverage for very specific purposes. They have a good rating with the Better Business Bureau, and their financial strength rating is OK, according to the major reporting companies.
For a list of companies that we recommend, visit our Best Insurance Companies page.
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Review Information
I am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.
Susanne says
Would NOT recommend this company to anyone. They are extremely difficult to communicate with and have unethical practices. Since insuring a commercial property with them, we have had nothing but issues with the company. Now that the insurance policy has been discontinued by us (over two months ago), they still have not issued a return check for the balance overpaid. Please research and use a reputable company for your insurance needs.
Nikki says
Markel company takes advantage of small companies with their payroll service. Underlying fees that they do not explain and charge a large fee if you don’t run payroll, which for a small business can really hurt your business.
Eric says
These people are ABSOLUTELY DISGUSTING in their business practices. This company should be disintegrated and all of the money paid out to the peoples’ lives they’ve ruined. Should not even be permitted to operate as a legit business.
Bob says
I will leave terrible review after or if my claim is settled, bbb rating will reflect, I wouldn’t recommend them to my worst enemy!!
Greg says
I had a claim in March, It was a theft and vandalism, The claim amounts were settled a few weeks later. 3 months after claim amounts were settled through the adjuster the claims examiner still has not issued a check. Worst company I have ever worked with.
Richard says
I would rank Markel as a -1 on their claims handling. TERRIBLE service. I had a commercial client insured with them that had a parked vehicle hit by an uninsured motorist on 11/28. Today, 12-8 we are still waiting on Markel to make contact with the insured. Of course the claims rep never returns calls. I would never recommend Markel.