Berkshire Hathaway Travel Insurance Review

About Berkshire Hathaway Travel Insurance

Berkshire Hathaway is a global conglomerate offering a diverse range of insurance products. Its insurance division is particularly strong, including the well-known auto insurer GEICO. Additionally, the company provides various travel insurance policies, reinforcing its position as a major force in the insurance industry.

What is Berkshire Hathaway?

Berkshire Hathaway provides an impressive selection of eight travel insurance plans designed to accommodate various types of trips, including road trips, cruises, luxury vacations, and adventure travel. For those uncertain about which plan to choose, the flagship ExtraCare plan covers essential travel protections.

With its diverse range of options, Berkshire Hathaway stands out as a top choice for travel insurance. It offers budget-friendly plans and maintains competitive premiums, even for older travelers. Additionally, all policies—except for the air travel-only plan—include coverage for preexisting medical conditions.

However, there are some notable drawbacks to Berkshire Hathaway’s travel insurance. Its Cancel For Any Reason (CFAR) coverage is only available with the highest-tier LuxuryCare plan and reimburses just 50% of trip costs, whereas many top CFAR policies typically offer 75% back. Additionally, its claims process has been reported as inconsistent, and the company tends to be less responsive to customer reviews.

Plans

Berkshire Hathaway offers comprehensive travel insurance with a wide range of standard coverages, ensuring protection for various travel-related risks.

• Medical Coverage: Covers emergency medical expenses, including illnesses and injuries.
• Trip Cancellation & Interruption: Reimburses prepaid, nonrefundable expenses if your trip is canceled or interrupted.
• Rental Car Insurance: Provides coverage for damages or theft when renting a vehicle.
• Lost Luggage: Compensates for the value of lost belongings.
• Emergency Medical Evacuation: Covers costs associated with emergency transportation in a medical crisis.

Most of Berkshire Hathaway’s medical coverage is primary, meaning it pays out before any other insurance plans, except for ExactCare Value and ExactCare Lite, which offer secondary coverage. Additionally, all plans that include emergency medical coverage also offer a preexisting conditions waiver, provided travelers meet the eligibility requirements and purchase their policy within 15 days of making the initial trip deposit.

Berkshire Hathaway provides a range of travel insurance policies tailored to different needs. Its ExactCare line includes three standardized plans, each varying in policy limits and additional benefits at higher tiers. Additionally, the company offers six specialty plans designed for specific travel activities, whether it’s a road trip, a luxury vacation, or adventure sports like scuba diving.

ExactCare is the most widely chosen policy, offering a well-rounded insurance package suitable for most travelers. It comes in three tiers – ExactCare Value, ExactCare, and ExactCare Extra – each providing comprehensive coverage. These plans include reimbursement for up to 100% of trip cancellation costs, a minimum of $750 for lost luggage, and around-the-clock global travel assistance.

For travelers seeking enhanced coverage, the LuxuryCare tier offers expanded benefits, including higher coverage limits and additional covered events beyond what is offered in the previous tiers. Berkshire Hathaway also provides category-specific insurance plans tailored to different types of travel, such as:

• Road Trip Coverage (ExactCare Lite): ExactCare Lite is a basic policy designed for domestic road trips, covering nonrefundable expenses like hotel stays, attractions, and event tickets. It also provides emergency medical and medical evacuation coverage for incidents that occur more than 100 miles from home.
• Preexisting conditions Waiver: If you have pre-existing conditions that need ongoing care, such as diabetes or high blood pressure, you can purchase a preexisting conditions waiver within 15 days of your initial trip payment. Similarly, coverage for children can be included if purchased within the same 15-day window.
• Cruise Coverage (WaveCare): WaveCare offers coverage for nonrefundable expenses and medical emergencies during cruises. It includes trip cancellation coverage up to $25,000 per person and medical evacuation coverage up to $750,000, which is crucial as evacuations from sea to land can be very expensive.
• Adventures and Activities Coverage (AdrenalineCare): For those planning high-risk, high-cost, or complex trips, AdrenalineCare is an ideal option. This all-inclusive policy offers increased coverage limits for trip cancellations, interruptions, equipment delays, license fee refunds, medical emergencies, lost luggage, and medical evacuation. AdrenalineCare is particularly beneficial for trips with tight travel schedules, such as short layovers between connecting flights or transfers between vehicles, boats, or planes. The plan includes missed connection coverage, along with protection for pre-existing conditions, financial defaults, and terrorism-related events.
• Flight Coverage (AirCare): AirCare is designed to cover flight-related expenses, such as unexpected aircraft and tarmac delays, equipment failures, lost luggage, flight diversions, and late-night travel disruptions. It’s an excellent choice for travelers who can manage most other travel risks independently but want added reassurance for flight-related issues.

AirCare is available as a standalone policy or as an add-on to Berkshire Hathaway’s lower-tier travel insurance plans.

The ideal Berkshire Hathaway travel insurance plan for you will depend on your specific travel plans. For instance, if you’re planning to engage in extreme sports, the AdrenalineCare plan is a solid choice as it offers higher coverage for emergency evacuations and medical care. The LuxuryCare plan provides the highest coverage limits for medical expenses and evacuations, but it comes at a higher price. In contrast, the medical coverage in other plans is more limited.

For budget-conscious travelers who still want some coverage for flight-related issues, the more affordable AirCare plan may be a better fit, as it reimburses fixed costs in case of flight disruptions. Additionally, many travel credit cards offer various trip protections, so it’s worth reviewing those benefits to avoid paying for coverage you may already have.

Pricing

The premium for travel insurance will vary based on factors such as the travelers’ ages, destination, and the total cost of the trip. On average, travel insurance typically costs between 4% and 8% of your total travel expenses. Let’s explore a few examples to estimate the coverage costs for Berkshire Hathaway’s plans.

For a 23-year-old traveler from Illinois planning a week-long trip to Italy with a budget of $3,000, the following travel insurance quotes from Berkshire Hathaway would apply: ExactCare Value at $63, ExactCare at $115, ExactCare Extra at $102, LuxuryCare at $125, and AdrenalineCare at $118. The premiums for these plans range from 2.1% to 4.2% of the total trip cost, which is within the typical range for travel insurance, averaging between 4% and 8% of the trip’s price.

For a 30-year-old traveler from California going to Japan for two weeks on a $4,000 trip, the following Berkshire Hathaway travel insurance premiums would apply: ExactCare Value at $127, ExactCare at $168, ExactCare Extra at $169, LuxuryCare at $238, and AdrenalineCare at $224. The premiums for these plans range from 3.2% to 6% of the total trip cost, which is within or below the typical range for travel insurance, which usually falls between 4% and 8% of the trip’s price.

For a Texas family of four—two 40-year-old parents and their 10-year-old and 4-year-old children—on a two-week trip to Australia with a total cost of $20,000, the following Berkshire Hathaway travel insurance premiums apply: ExactCare Value at $528, ExactCare at $442, ExactCare Extra at $793, LuxuryCare at $1,002, and AdrenalineCare at $961. The premiums for these plans range from 2.2% to 5% of the total trip cost, which falls within the typical range for travel insurance, usually between 4% and 8% of the trip’s price.

For a 65-year-old couple planning a two-week trip to Mexico from New Jersey with a total trip cost of $6,000, the following Berkshire Hathaway travel insurance premiums would apply: ExactCare Value at $396, ExactCare at $454, ExactCare Extra at $458, LuxuryCare at $594, and AdrenalineCare at $548. The premiums for these plans range from 6.6% to 9.9% of the trip’s total cost, which is on the higher end of travel insurance premiums, though still not the most expensive in the industry.

How to Purchase a Policy?

Berkshire Hathaway’s online quote generator is user-friendly and straightforward. To get a quote, you’ll need to provide details such as your destination country, travel dates, travel method, booking date, number of flight segments, number of travelers, traveler ages, postal code, trip cost per traveler, and email address.

After submitting this information, you’ll receive a list of available travel insurance policies along with a cost comparison. If you’re flying, you’ll need to enter your flight details. Additionally, you can select optional coverage and add them to your shopping cart before finalizing the transaction online. Note that there is a 15-day free look period during which you can cancel your plan and receive a refund.

How to FIle a Claim?

Berkshire Hathaway policyholders have multiple options for filing a claim. They can do so through the online claims portal, by sending an email to claims@bhtp.com, or by calling (844) 411-2487 and selecting option 5. For international callers, the contact number is +1 (715) 303-6333. Additionally, claims can be submitted via the company’s mobile app, which is available on both iOS and Android. However, some customer reviews indicate that the app may not function as expected, so using the website or phone support might be a more dependable choice.

Customer support representatives are available Monday through Friday from 7 a.m. to 7 p.m. Central Time, excluding national holidays. For urgent travel or medical assistance, an emergency operator can be reached 24/7 by selecting options 1 or 2 when calling.

Policyholders have up to one year from the date of loss to submit a claim, but Berkshire Hathaway advises filing as soon as possible. Some claims, like those for lost baggage, require only a photo of the report filed with the airline along with basic details about the incident.

Coverage Exclusions

The coverage exclusions in your policy will vary based on the specific plan you choose. For instance, the AirCare plan does not include coverage for emergency medical expenses. It’s important to carefully review the policy details to ensure it provides the protection you need.

In general, travel insurance, including Berkshire Hathaway Travel Protection, typically does not cover the following situations:

• High-risk adventure activities (unless explicitly stated in the policy)
• Named storms
• Epidemics
• Incidents transpiring while under the influence of alcohol and/or drugs.

Conclusion

Travel can be unpredictable, so having travel insurance is often a smart choice. A trip protection plan can help cover unexpected expenses and reduce stress if things don’t go as planned. Berkshire Hathaway Travel Protection is a reliable provider known for its fast claims processing. However, its medical coverage limits are not the most extensive. If comprehensive emergency medical coverage is a priority, exploring other travel insurance options may be worthwhile.