(BRK.A), (BRK.B)
Berkshire Hathaway Travel Protection, which offers its AirCare and ExactCare travel insurance coverage to travelers, will now be available through the InsureMyTrip website and mobile platform.
Founded in 2000, InIsureMyTrip.com was the world’s first major travel insurance comparison website, and today enables consumers the ability compare and buy plans from 29 top travel insurance providers; the largest network of travel insurance plans and providers in the U.S. marketplace.
When Berkshire Hathaway purchased AirCare insurance in 2014, it immediately jumped to the head of the pack in the ability to offer travel insurance that can be purchased with your smartphone or mobile device at a moment’s notice.
It is coverage that brings strong profits to Berkshire, and there are times when it has paid off big for travelers.
For example, an August 8, 2016 Delta Airlines system-wide computer failure had AirCare purchasers feeling like they had won the lottery. As flights were grounded for hours, delayed travelers that had AirCare had $1,000 claims automatically credited to their bank accounts.
There is no telling how many travelers spent the money at airport retailers and lounges, but it was probably easy to tell who they were, as they must have been the ones with smiles on their faces as others fumed.
“Berkshire Hathaway Travel Protection is redefining the way claims are processed and paid,” stated Jim Grace, CEO of InsureMyTrip. “Their innovative real-time claims settlement capabilities combined with their robust suite of products offer great flexibility and value for our customers. We are very pleased and excited to be working with them.”
BHTP offers advanced mobile claims processing services for travelers, enabling “pic and a click” filing for many claims with speedy payments. Emergency medical coverage is also available with coverage for many pre-existing medical conditions (if eligible) and options for trip cancellation and interruption protection. Customers will also have access to BHTP’s Emergency Assistance service.
“InsureMyTrip shares our passion for bringing innovation to traveler insurance,” said Dean Sivley, President of Berkshire Hathaway Travel Protection. “We’re looking forward to bringing our advanced claim processing platform and real-time claim payments solutions to InsureMyTrip customers.”
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.