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Old 01-27-2017, 09:13 AM   #1
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Markel Insurance

Anyone use them?

I am renewing my insurance and received a competitive quote. I have done some on line research and they seem like a solid reliable company.

Any experience on the forum?
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Old 01-27-2017, 09:33 AM   #2
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I used Markel for several years that I purchased through IMIS, a marine insurance brokerage. Never made a claim, but Al Golden the owner of IMIS told me that Markel had all of the right marine coverages- pollution liability, etc. that some non-marine policies don't cover.

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Old 01-27-2017, 11:06 AM   #3
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I use them and have had no issues.
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Old 01-27-2017, 11:37 AM   #4
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Read the policy in detail. Then compare.
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Old 01-27-2017, 01:09 PM   #5
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Quote:
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Read the policy in detail. Then compare.
Did the comparison before I posted. It has everything I need/want plus two additionals so I am OK with that. However the policy is not worth the paper it is written on if the company is flaky.

Sounds like they are fine.
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Old 01-27-2017, 02:23 PM   #6
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I use them and no issues so far.
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Old 01-27-2017, 03:14 PM   #7
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I am currently using them and had no issues. From others that i have spoken to, they had no problem with claims. I am about to change carriers now because Markel does not cover wind damage from named storms and I am back on the coast where we have Trop storms and Hurricanes. If not for that, I would keep them.
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Old 01-27-2017, 04:02 PM   #8
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Did the comparison before I posted. It has everything I need/want plus two additionals so I am OK with that. However the policy is not worth the paper it is written on if the company is flaky.

Sounds like they are fine.
They're fine if they cover everything you need in the ways you need. Tony seems to have a policy with them that won't cover some things he needs.
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Old 01-27-2017, 04:10 PM   #9
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Quote:
Originally Posted by Tony B View Post
I am currently using them and had no issues. From others that i have spoken to, they had no problem with claims. I am about to change carriers now because Markel does not cover wind damage from named storms and I am back on the coast where we have Trop storms and Hurricanes. If not for that, I would keep them.
Interesting. I have been offered storm coverage but at the same significant deductible percentage (10%) that I have now with GEICO.

On checking this in the past it seems the 10% is a standard for FL and AL.
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Old 01-27-2017, 04:51 PM   #10
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Quote:
Originally Posted by menzies View Post
Anyone use them?



I am renewing my insurance and received a competitive quote. I have done some on line research and they seem like a solid reliable company.



Any experience on the forum?


I have used them for the past 20 years. I Had a few large claims from a lightning strike and had no issues. Now we do personally know the owner of Markel very well, which may help. However this is what they specialize along with the trucking and shipping industry. I would strongly recommend them. May not be the cheapest, however one of the best.
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Old 01-27-2017, 05:01 PM   #11
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Quote:
Originally Posted by Tony B View Post
I am currently using them and had no issues. From others that i have spoken to, they had no problem with claims. I am about to change carriers now because Markel does not cover wind damage from named storms and I am back on the coast where we have Trop storms and Hurricanes. If not for that, I would keep them.


That's interesting. I currently have a policy with them for the East Coast which includes wind damage for named storms. Maybe there are not taking on any new policies for this.
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Old 01-27-2017, 05:32 PM   #12
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We have had Markel for 8 years. We had a bad lightning strike 5 years ago. They were very easy to deal with. We cannot say enough about how easily the repairs went along.
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Old 01-28-2017, 03:39 AM   #13
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Have had Markel on and off over 12 years. One significant claim. They were extremely easy to deal with and paid in full without haggling.

Many of the Caribbean cruisers use Markel as it is one of the companies that will cover the Eastern Caribbean.

Would recommend them provided their coverage is what you need.
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Old 01-28-2017, 06:56 AM   #14
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My New Hampshire/AIG policy is offered by 2 different agencies where the agents sit right next to one another.

One covers liveaboard the other does not.

Look at future needs even if you don't need the coverage right away, may save time and money in the future.
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Old 01-28-2017, 07:27 AM   #15
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Quote:
Originally Posted by menzies View Post
Interesting. I have been offered storm coverage but at the same significant deductible percentage (10%) that I have now with GEICO.

On checking this in the past it seems the 10% is a standard for FL and AL.
We have GEICO and a 5% deductible.


THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
R082 05 13 Page 1 of 1
REDUCED NAMED STORM DEDUCTIBLE

The section titled
Deductible under Coverage A- Hull and Equipment is deleted and replaced with the

following:
We


will subtract the deductible shown on the Declarations Page from each loss. We will not apply this

deductible in the event of a total or constructive total loss.
In the event of any loss caused directly or indirectly by a


named storm, and if your boat is located in one

of the locations below at the time of the loss,


we will subtract from each loss, the greatest of:

a. the deductible shown on the Declarations Page;
b. $1,000; or
c. 5% of the amount shown for


Coverage AHull and Equipment on the Declarations Page.

This provision applies to a partial or to a total loss.
The locations in which this provision applies are: North Carolina, South Carolina, Georgia, Florida,

Alabama, Mississippi, Louisiana, Texas, the Bahamas, Caribbean, or Mexico.
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Old 01-28-2017, 08:18 AM   #16
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Old 01-28-2017, 10:34 AM   #17
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Quote:
Originally Posted by Larry M View Post
We have GEICO and a 5% deductible.

Wonder if you are paying a much higher premium for the reduced deductible, or if your hull value is much less? Can you remember if you were given a deductible choice?
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Old 01-28-2017, 10:38 AM   #18
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GEICO has a deductible buy down endorsement available- he may have selected that option.
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Old 01-28-2017, 12:16 PM   #19
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Quote:
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Wonder if you are paying a much higher premium for the reduced deductible, or if your hull value is much less? Can you remember if you were given a deductible choice?
Quote:
Originally Posted by Pau Hana View Post
GEICO has a deductible buy down endorsement available- he may have selected that option.
Menzies: I think Hobo's value is much less than yours. Our annual premium is just over 1.4% of our hull value for reference.

We had been with Seaworthy since 2008 and then the name changed to Geico in 2014. We've never had a claim and during hurricane season, Hobo is now usually moored on the Ortega River. So maybe our lower hull value, clean record and where Hobo is moored may be the difference.

Peter: We did not do the buy down option. I didn't even know it was available. Thanks for the info.

The deductible went down without us asking as did our premium although only a few dollars.

Here's part of the letter that came with our renewal documents from last fall.

....Coverage continues to be warranted for navigation in US Atlantic and Gulf coastal waters and inland waters tributary thereto between Eastport, ME and Brownsville, TX, inclusive and the Bahamas to Turk Island. Separate Manuscript Endorsement continues to reduce the windstorm deductible to 5%.

The renewal premium is $15 less than your expiring premium amount. Your invoice is attached.....
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Old 01-28-2017, 01:08 PM   #20
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Always makes sense on any type insurance to have the agent/broker check to see the impact of different deductibles. I've had times in which I've been dismayed to find out how much I was paying for a lower deductible and I've had times I was surprised to find out that I was paying virtually nothing for a lower deductible.

There is one other factor to consider. If your claim was going to be between the various deductible levels would you really want to make a claim. A simple example would be auto with $100, $250, $500, $1000 deductibles. Assume for a moment, we scraped the side of the car backing against a tree and the estimate was $300. There is no way I would file a claim, add it to my insurance record and ultimately perhaps find it reflected in premiums. Now the amount of the deductible is still significant on major claims, just don't let a low deductible encourage you to file more minor claims.

We have a lower boat deductible than we really wanted but they did compare a higher deductible and the cost savings was minuscule.
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