Berkshire Hathaway Travel Protection (BHTP) has announced the launch of AdrenalineCare, a new travel insurance plan specifically designed for adventure travelers.
The package, which features enhanced baggage protection, coverage for extreme activities and higher medical limits, is the latest in a series of travel style protection plans introduced by the travel insurance industry.
AdrenalineCare coverage includes up to $750,000 in medical evacuation coverage (BHTP’s highest limits); up to $50,000 in emergency travel medical insurance; up to $500 in equipment delay coverage if the traveler’s sports equipment (e.g. skis, scuba gear, mountain climbing equipment) is delayed 6 hours or longer; and up to $1,500 in baggage coverage to cover lost, stolen or damaged luggage.
According to BHTP’s State of Travel Insurance 2019 report, adventure travelers take more trips than regular road trippers (4.87 annually versus 3.45). “Whether they are traveling to experience a sport like motor racing, or packing expensive equipment to ski or climb, they also face greater risk,” BHTP said in a press release announcing AdrenalineCare.
“Our annual State of Travel Insurance study found that adventure travel continues to be one of the most popular and fastest-growing travel types,” said Dean Sivley, BHTP president.
“Adventure travelers are eager to explore the world but also know that their adrenaline-packed trips warrant more protection. We created AdrenalineCare so they can fully enjoy their adventures without worrying about equipment delays or insufficient medical coverage if traveling in a remote location.”
Additional AdrenalineCare includes a $150 fixed benefit for the inconvenience if baggage is delayed 12 or more hours. If eligible, travelers are awarded the full $150 to use as they wish for simply enduring the delay. The plan also includes up to $200 to reimburse the fee paid for a hunting or fishing license if the insured must cancel.
Traditional coverage also comes with the plan, such as comprehensive trip cancellation, interruption, delay, and missed connection protection; as well as 24/7 global travel assistance available via phone or email for travel and medical emergencies.
Announcement is part of an industry trend
AdrenalineCare follows on the recent announcement by at least three insurance companies regarding the launch of cruise-specific travel protection plans. BHTP was the first to announce this year, launching its WaveCare plan in January.
Category-specific travel protection plans have been on the radar screen for BHTP for about three years now. In a May 2016 interview with Travel Market Report, Sivley said the company was interested in developing a variety of travel insurance plans for different categories, including cruise, bridal, and adventure.
Recently, the travel insurance industry has expressed a renewed interest in getting more niche plans into the market, as the result of the 2018 travel insurance settlement agreements the industry reached with state insurance commissioners across the U.S.
Each of the 50 U.S. states regulates travel insurance individually, so each travel insurance company must file their full plans state-by-state to launch a national program. As the industry moves closer to common filing practices across states, the prospect of more niche products like cruise and adventure plans will increase, exper