Who is the underwriter for Velosurance?
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The Velosurance bicycle policy is underwritten and issued by Markel American Insurance Company, located in Glen Allen, Virginia. Markel is rated A (Excellent) by A.M. Best in Financial Size Category XIV ($1.5 Billion to $2 Billion).
Markel is a leader in recreational insurance, and the rating matters more than the name: it is an independent assessment of the insurer's ability to pay claims, which is the one promise an insurance policy is built on.
What does the A (Excellent) rating mean for my claim?
A.M. Best rates insurers on financial strength, and A (Excellent) means Markel has a proven ability to meet its obligations to policyholders. Financial Size Category XIV ($1.5 Billion to $2 Billion) measures the capital behind that promise, so the financial backing behind a covered claim is substantial. You can read the exact contract wording that backing applies to in how to review the policy document.
How do Markel and Velosurance work together?
Markel handles the financial side of the policy and Velosurance handles service and management: quotes, policy changes, and walking you through a claim from start to finish. Whether the paperwork carries the Velosurance or Markel name, the policy and the premium are identical. The full breakdown is in the difference between Markel and Velosurance.
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