Supporting Member Buddy Insurance offers quite the unique product that could be beneficial to many of our members while in the field. Check out more information below!
In the United States, the cost of healthcare is constantly rising, with no signs of it slowing down, much less reversing course. This, in turn, has made insurance deductibles skyrocket. Today, the average individual deductible for health insurance is over $4,000 and it’s not uncommon to see people who have been injured having to exhaust their savings or start GoFundMe campaigns to try and bridge the gap before their health insurance kicks in.
“We saw more and more of our friends having to go online and pass the hat for money to cover hospital bills or just to buy groceries after being hurt while mountain biking, rock climbing, or kayaking,” said Charles Merritt. “That was what inspired us to start Buddy.”
Buddy is an insurtech e-commerce agency that offers instant guaranteed issue on-demand accident insurance to anyone who is active outdoors and is a resident of a state in which it is licensed (43 at the time of this story). Registration is done online and takes less than 90 seconds, after which the policyholder is insured for up to $50,000 in coverage anywhere in the world. Benefits are paid directly to the policyholder and can be used for the aforementioned costs or even to replace damaged gear.
Since its launch, Buddy has been named a top outdoor innovator by Outside Magazine and among the country’s top five best personal accident insurance companies by Investopedia.
Plans can last for as little as a day, as long as a year, or any time period in-between and range in pricing from around $9 daily to $47 per month for an annual plan.
Buddy’s partner API enables third parties to embed coverage, powered by Buddy, directly to their customers as an add-on during registration or check-in, making it easy for tour operators, adventure park owners, and others to offer it to their customers.
“We want to empower Americans to fearlessly lead active lives in the outdoors while removing the financial pain and insecurity that accompanies any unforeseen accident,” said Merritt. “Think of it as that extra layer you throw in your bag. With Buddy, you won’t have to fear the unknown unknowns. We’ve got you covered.”
