Markel Event Insurance

Market Event Insurance was founded ten years ago, and offers wedding liability coverage and wedding cancellation coverage. 

0 Reviews - Write Review
9.6
Grand Score
8
User Score
9.6
Grand Score
8
User Score
Visit Site

Markel Event Insurance has been in business for over a decade. The Markel Corporation has five insurance divisions. The company underwrites innovative property and casualty-based policies that are for both standard and hard-to-place risk. It has over 70 years of insurance experience. Markel Event Insurance offers wedding liability and cancellation policies. These policies can include bodily injury coverage, property damage, and host liquor liability.  Cancellation policies cover vendor bankruptcy, military deployment, accidents, illnesses, and extreme weather. 

Nowadays, weddings are expensive affairs that are typically booked a year or more in advance. Venues require deposits that are often thousands of dollars. Many venues also require wedding liability insurance to make a reservation. The average cost of a wedding in the United States is $29,000. If some unforeseen calamity should occur, thousands of dollars can be lost without adequate wedding insurance. Seniors planning late-life weddings are at special risk of an unplanned illness or injury occurring before the day of the big event. Wedding insurance helps recoup the often-staggering costs. 

Grandfolk Scoring
Cost 10/10
Coverage 10/10
Waiting period 8/10
Customer support 9/10
Policy options 9/10
Payment options 8/10
Financial strength 10/10
Ease 10/10
Cost
How much do policies cost?
Basic liability starts at $75 and cancellation policies start at $130
Coverage
What is covered?
Wedding liability coverage and wedding cancellation coverage
Waiting period
Is there a waiting period?
Unlikely, but speak with the company for details
Customer support
When is customer support available?
By phone 7 AM-8 PM CST Mon-Fri, 9 AM-5 PM Sat
Policy options
How many policies are available?
There are ten policy options
Payment options
How do I pay for the service?
Credit or debit card
Financial strength
Is the company financially strong?
Yes, it has been in business for over a decade
Ease
Is it easy to obtain a policy?
Yes, you can purchase the entire policy by phone
Age Score:
10
50-65 Years
10
65-75 Years
10
75-85 Years
9
85-Above

Market Event Insurance has an website that offers free quotes and ample information about its various insurance policies. However, it do not sell policies online. Instead, a buyer must call the customer service number to purchase insurance. A senior can pay for the policy using the automated system 24/7, or speak with a representative during business hours. Many seniors prefer this more standard form of buying policies versus the difficulty of making the purchase online. 

Wedding insurance, whether it is the senior getting married or their children/grandchildren, helps guarantee that costly deposits and other expenditures will be reimbursed if some unforeseen situations should arise. Seniors typically appreciate insurance because their many years of wisdom have taught them that tomorrow is never promised, and things can happen.Planning ahead with an insurance policy is just plain common sense.

Health Score:
10
Great Health
10
Good Health
10
Fair Health
10
Poor Health

Most seniors face a variety of health issues with the advancing years. Some problems are relatively insignificant, but others can be devastating. Anyone living in their Golden Years knows that planning ahead a year or more can be risky. 

Many wedding venues must be booked a year in advance and can only be held with costly deposits. Purchasing wedding insurance helps ensure that if a senior falls ill or suffers an accident, such as a broken hip, they will be reimbursed their money if the event must be postponed or canceled. This provides most seniors with the peace of mind to feel secure enough to plan a wedding a year or more in advance. It helps reduce the stress and worry of placing large amounts of money on the line for an event that is way in the future. 

Liability insurance is also a stress reliever because if someone should become inadvertently injured during the wedding, the senior won’t be faced with possible financial devastation if litigation is pursued due to bodily injury. 

Pros:

  • Markel Event Insurance offers ten cancellation/postponement options.
  • When purchasing wedding liability insurance, you have the option of adding a $5,000 cancellation endorsement to the policy. 
  • Markel Event Insurance covers weddings outside the United States. 
  • When you purchase both wedding liability and cancellation insurance, you receive a 15 percent discount. 
  • If a calamity occurs, you can file your claim immediately online or via the phone.

Cons:

  • Only three levels of liability insurance coverage. 
  • The company does not offer a large amount of liability coverage. If you need $5 million or more, you will have to seek insurance somewhere else.  
  • No senior discounts.

Bottom Line:

Nowadays, weddings are very expensive and require thousands of dollars in deposits alone. The liability for holding a wedding is also very high if you do not have insurance. Insurance takes the worry out of planning a wedding in advance and throwing the elaborate affair. Knowing that you are covered in the event of some disasters is priceless for most individuals. 

Markel Event Planning has the experience and the reputation that most people seek when looking for a wedding insurance provider. With ten insurance options to choose from, most people can find a plan to fit their budget. Liability can be purchased for as little as $75, and postponement/cancellation can be purchased for $130. The deductible for each policy is only $25/policy. 

Frequently Asked Questions:

How do I pay for my policy? 

You pay for your policy over the phone with a major credit card or debit. To purchase a policy, simply call customer service. A senior can pay for the policy using the automated system 24/7. If a senior prefers to speak directly to a customer service representative, they can call during business hours.  

Can I change my plan? 

You can add to your plan by calling the customer service department. 

Can I cancel my plan?

You cannot cancel your plan.

More Information:

Note: All cancellation policies have a $25 deductible. Event liability deductibles are $1,000 for property damage. 

Overview: Markel Event Insurance can be purchased 24/7/365. Liability insurance policies can be purchased a day before the event, and cancellation/postponement insurance can be purchased 14 days before the event. 

Package Details: Markel Event Insurance offers ten policy packages. The packages cover bodily injury coverage, property damage, and host liquor liability. Cancellation policies cover vendor bankruptcy, military deployment, accidents, illnesses, and extreme weather. 

Individual Plans: All plans are purchased individually.

Family Plans: The company does not offer family plans. 

Markel Event Insurance App: The company does not have a phone app.

Discounts: Discounts are offered for USAA members. A 15 percent discount is also offered if you purchase both wedding liability and cancellation/postponement insurance. 

Add-On Services: After purchasing wedding liability insurance, you can add cancellation/postponement insurance policies. 

Additional Company Details:

Payment Policies:  Once purchased, there is no refund. You must purchase all wedding plans by calling customer service. 

Cancellation Policy: Once purchased, you cannot cancel your policy, but you can alter it. 

Warranty: Markel Event Insurance stands behind all of its insurance policies. 

Accreditation: Markel Event Insurance is an accredited member of the Better Business Bureau (BBB). The company has an A+ rating for consistently providing superior customer service. 

COMPANY DETAILS

Markel Event Insurance is also known as Essex Insurance Company, Markel Corporation, and Markel Service, Inc. The company has offered wedding insurance policies for over a decade. It also provides top-notch customer service. All claims are processed in a timely manner. 

CONTACT:

Markel Event Insurance
4521 Highwoods Pkwy
Glen Allen, VA 23060-6148
Tel: 866-585-7996.
Website: https://www.markelinsurance.com/event

Kimberly Sharpe - Senior Advisor

...