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Markerstudy car insurance

Markerstudy Group is an insurance brokerage which owns car insurance brands such as Zenith Insurance, Insurance Factory and the five-star rated Geoffrey Insurance.

How good is Markerstudy car insurance?

Defaqto: 3/5 stars and 5/5 stars

  • Markerstudy Insurance Services – three stars

  • Zenith Insurance – three stars

  • Geoffrey Insurance – five stars

Note: Not all Defaqto products with the same star ratings have the same covers and terms.

TrustPilot: 1.3/5 stars to 4.8/5 stars

Markerstudy Group brands generally enjoy favourable ratings and reviews on TrustPilot.

  • Markerstudy Insurance Services – 1.3 stars

  • Zenith Insurance – 3.8 stars

  • Geoffrey Insurance – 4.8 stars

  • Lancaster Insurance – 4.6 stars

  • Insurance Factory – 4.5 stars

About Markerstudy insurance

The group offers a number of car insurance services, including several niche products such as classic car insurance.

The company says it specialises in car insurance and claims an extensive knowledge, offering a wide range of specialist products such as young driver insurance, and cover for high-performance motors, expensive imports, kit cars and horseboxes – among many others.

Markerstudy works with more than 1,000 UK brokers and intermediaries.

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More about Markerstudy

Markerstudy Group was established in 2001 by Kevin Spencer – a former managing director of Lloyd's broker Edgar Hamilton and Wellard. Spencer is Markerstudy Group chief executive and majority shareholder, while the second-largest shareholder is Gary Humphrey, group underwriting director.

Since its formation Markerstudy Group has made several acquisitions, and now owns several brands across the insurance spectrum.

In 2019, Markerstudy announced the planned acquisition of Co-operative Group's insurance business. Under the deal, Markerstudy will pay £185m to enter into a 13-year agreement to sell its insurance services to Co-op members.

Markerstudy’s brands

With Co-operative Insurance Services about to be added to the list of brands, here’s the motor insurance arm of Markerstudy Group:

Markerstudy car insurance policies

Markerstudy – either itself or through its affiliates – offers three types of car insurance.

  • Comprehensive cover

  • Third party only

  • Third party, fire and theft

Several Markerstudy Group brands offer the option to insure additional vehicles on the same policy. And while temporary insurance and a black box telematics scheme are yet to be among the services offered, there are some niche products available as listed below.

Lancaster Insurance has specialised in arranging classic car insurance since 1984. The company works with a range of specialist underwriters to provide highly bespoke insurance products, and as of May 2019 the company provided cover for 88,000 classic cars, including 40% of the MG Bs currently driving on UK roads.

Taxi insurance rates can be high due to the amount of time and mileage spent on busy roads. The Insurance Factory, through its affiliate The Taxi Insurer, can offer cover for self-employed taxi owners, as well as companies operating taxi fleets.

Longer trips in a bigger vehicle – plus, perhaps, Continental travel – can be expensive. The Insurance Factory sister company Motorhome Protect offers competitively priced cover for large, brand new motorhomes as well as retro camper classics.

Liability cover for taking multiple passengers can be pricey, but the Insurance Factory offers competitive prices for public and private hire, and for frequent or just occasional use, and from individual policies through to fleets of vehicles.

Not only the liability of the driver, but the liability for the travelling animal needs to be insured. Equesure offers cover for horseboxes and horse trailers.

The obvious added risk for any vehicle with catering or cooking facilities on board is that of fire. Mobilers offers insurance for catering vehicles and trailers such as chip and burger vans ice cream vans among many others.

Markerstudy standard car insurance cover

Markerstudy has a number of car insurance brokers under the blanket company. Some are more highly rated by experts and customers than others. As an example of one of the best-regarded car insurance companies, the five-star rated Geoffrey Insurance comprehensive policy offers the following package as standard:

  • 24-hour UK-based claims line

  • Cover for loss or damage by accident or vandalism

  • Damage to glass

  • Driving abroad – up to 90 days of cover

  • Uninsured driver promise – if you are in an accident with an uninsured driver your excess will be refunded and no-claims discount unaffected

  • Child seat cover – up to £300 to replace fitted child seats

  • Courtesy car – subject to availability

  • Legal expenses – up to £100,000 of legal protection each year

Markerstudy car insurance optional extras

Markerstudy Group’s various brands offer a range of optional extras that can be added to your policy for an additional premium.

While Geoffrey Insurance offers up to £100,000 in legal cover per year as standard on all its policies, Zenith Insurance offers the same value of cover as an optional extra.

Geoffrey Insurance offers cover of up to £30,000 in personal accident cover for £24 a year.

Geoffrey Insurance offers a “guaranteed hire vehicle” and “guaranteed hire car plus” option. The first guarantees a small “class-A” vehicle, while the plus option guarantees a 4-door family saloon car.

Zenith Insurance also offers a guaranteed replacement car option.

Both Geoffrey and Zenith Insurance offer the optional extra to provide cover for lost, stolen or damaged keys.

RAC Breakdown Services provides several levels of roadside assistance for both Geoffrey Insurance and Zenith Insurance, with annual premiums starting at around £25.

What is Markerstudy car insurance best for?

Markerstudy Group has plenty of reach given its number of acquisitions over the near-20 years of its existence. From standard private car insurance to arranging cover for multi-vehicle movie sets – its range of motor insurance cover is extensive. 

And while it is proud of its niche services, the company also owns one of the best regarded standard car insurers in Geoffrey Insurance, with five-star ratings from Defaqto and Moneyfacts.

In short then, Markerstudy Group is best at:

  • Broad reach within the motor insurance sector

  • Niche motor insurance, such as classic car insurance

  • Standard private car insurance rated as five stars

Markerstudy in the news

Markerstudy’s takeover of Co-operative Insurance Services has been stalled by the coronavirus outbreak in 2020, but Gary Humphrey said in a blog post on 9 October 2020 that success was “within touching distance”.

Earlier in September 2020, Unite, the trade union, and MP Tony Lloyd launched an early-day motion in the House of Commons calling on Co-operative Group to rethink its decision.

Complaints data

The Financial Ombudsman Service received 173 car insurance complaints Markerstudy in the first half of 2020. That gave Markerstudy 3.4% of complaints but the company had more than 6% of the market share, so it received a much smaller proportion of complaints than might be expected for its size. To put complaints in context, 67 firms had 10 or more complaints each and those totalled 4,550 complaints. Nearly 200 firms had fewer than 10 each, sharing just 479 complaints between them.

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