WAUKESHA, Wis., Nov. 17 /PRNewswire/ — To provide peace of mind to motorcyclists and assistance to their families in the event of a tragedy, Markel American Insurance Company now provides Funeral Expense Insurance Coverage as an option within its BikelinE(TM) motorcycle insurance program.
A 2006 report from the National Highway Traffic Safety Administration (NHTSA) showed that in 2005, motorcycle rider fatalities made up 10.5% of all motor vehicle traffic fatalities. The report continues with data showing that since 1997, both motorcycle registrations and motorcycle rider fatalities have been on the rise, but the rate of increase of fatalities has been higher than the rate of increase in registrations.
According to the National Funeral Directors’ Association (NFDA), as of July, 2004 the average cost of a funeral was $6,500, which didn’t include cemetery costs, which usually start at $2,000. Often these expenses are paid via the life insurance of the deceased, diminishing the available funds for the future use of the family.
Markel’s funeral coverage is designed to help ease the financial burden on the family members of the motorcyclist. The coverage provides up to $5,000 for funeral expenses associated with a motorcycle accident that results in the death of the named insured or resident relative while operating or occupying the insured motorcycle.
A subsidiary of the Markel Corporation, Markel American Insurance Company specializes in the lines of Powersport Products, Specialty Marine, Preferred Yacht and Small Boat, and Specialty Property. For more information on our products, please visit http://www.markelamerican.com/.
The Richmond, VA-based Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. In each of these markets, the company strives to provide quality products and excellent customer service. For more information, please visit http://www.markelcorp.com/.
