Right in time for the vacation season, Berkshire Hathaway Travel Protection, part of Berkshire Hathaway Specialty Insurance, has launched the first product in its new travel insurance line designed for travelers, travel agencies, tour operators and travel suppliers called AirCare.
AirCare is a fixed-benefit flight protection coverage available up to one hour before flight departure.
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AirCare coverage is priced at $25 per trip and pays $1,000 to travelers for tarmac delays of more than two hours; $1,000 if a traveler experiences lost or stolen luggage; $500 if a flight delay causes a traveler to miss a connecting flight; $500 for luggage delayed more than 12 hours; and $50 if a traveler experiences more than a two-hour flight delay. AirCare also includes travel-assistance through MyAssist, a global-assistance and concierge service.
AirCare was developed in response to what is shaping up to be one of the most disruptive and expensive years for travelers. According to data from FlightAware, this has been the worst year on record for flight cancellations in the U.S., with nearly 90,000 flights cancelled since December 2013. AirCare is the first of several travel-protection products slated to be released under the Berkshire Hathaway Travel Protection name over the next several months.