These three brands are there to support you when disaster or injury strikes. Learn the ins and outs of accident insurance here.
If you have a full-time or even a contract job, you probably have health insurance. But, that usually doesn’t cover everything. And if you find yourself traveling, mountain biking, mountaineering, adventure racing, climbing, and camping as often as we do, you should know all your options.
So, what is accident insurance, and why do you need it?
Accident insurance, also known as injury insurance or travel insurance (no, we’re not talking about insuring your baggage), is the awesome solution for keeping yourself safe through any and almost all activities when an accident does happen — no matter how risky or remote.
Accident insurance differs from standard health insurance in that it’s made to cover medical expenses when you get injured (in other words, not pre-existing conditions). Even if you have health insurance, you can use the money from a claim through your accident insurance to cover things like copays and deductibles.
Oftentimes, accident insurance covers more than what health insurance would, and it can help offset medical bills. If you have an active lifestyle, travel often, or participate in sports, accident insurance is definitely a supplement worth looking into.
The services and fine print differ for each company, but they all offer the following:
- Different options for coverage plans
- Coverage for individuals and families
- Allowances for emergency medical transportation (ambulances, search-and-rescue removals, hospital services)
- Coverage wherever you travel (exclusions for countries in war)
- An easy-to-use online system to file claims
- Two companies offer coverage for custom trip dates
Here are the top three accident insurance companies out there.
Spot Injury Insurance
Co-founded in 2017 by Matt Randall and Maria Goy, Spot currently insures tens of thousands of customers, from pro athletes to first-time outdoor enthusiasts.
And new this spring, Spot now offers customized “on-the-bike” injury insurance coverage through a partnership with USA Cycling. Cyclists who are members or racing in any USAC-sanctioned event can now sign up for Spot for just $40/year.
Cost: $25/mo.
Coverage lengths available: Monthly, annually
Coverage Cap: $20,000
What it covers: Spot is an “on-demand” accident insurance company that covers everything from hospital stays, broken bones, and more.
What it doesn’t (notable exclusions): It doesn’t cover general illness or pre-existing conditions; this insurance focuses on accidents sustained while traveling or engaging in an outdoor activity, whether you are a weekend warrior or a pro athlete. You can find a list of excluded activities on their site.
Who can get it: Anyone age 18-69 in 45 states (remaining states to be added this year)
Get Spot Insurance![Zach mountain biking specialized Zach mountain biking specialized](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2020/02/IMG_2613.jpg)
Buddy
Buddy insurance was founded in 2018, mainly because its founders got tired of seeing friends’ GoFundMe campaigns when they got hurt mountain biking, skiing, or climbing.
“Even with health insurance, unexpected injuries can result in paying thousands of dollars out-of-pocket. So we created the first-ever on-demand accident insurance,” said Charles Merritt, CEO and co-founder of Buddy.
Get Buddy![Backcountry skiing mountain Backcountry skiing mountain](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2020/10/avy-airbag-backcountry-skiing.jpg)