The trail reaper comes at unexpected times. A casual after work ride can occasionally turn into a broken bone, and although that’s not often the case, it can happen. Last year we talked about Spot, an insurance program where athletes can buy insurance for accidents for as little as $20 a month, and now there is another company offering something similar called Buddy.
Buddy has accident insurance for a low price in 23 states and a very low commitment with the same thing in mind. Often, health insurance programs have deductibles that are thousands of dollars before they start to cover anything, and for most of us who mountain bike, we are healthy enough to not need the extraneous things that full insurance coverage programs offer.
Buddy says that since 2011, the average deductible for an insurance plan is now over $4,000. When customers sign up for Buddy, they are paid directly from the company to the customer. If someone also breaks their bike when they run into a tree after a botched landing, Buddy customers can use the payout to cover broken gear.
Buddy benefits are based on the treatment, no matter what it costs. If the benefits outweigh the out-of-pocket costs, then users can keep the rest. Buddy doesn’t coordinate with primary health insurance providers either, so it’s up to the customer where to put the cash.
Buddy says that the accident insurance can provide payments of up to $25,000 for injuries treated by a medical professional and physical therapists.
Buddy plans start around $9 per day for most states that they offer coverage in, and people can also buy annual plans for $47 per month. For myself, in Colorado, after typing in my information, Buddy estimates that my costs would be $9/day, $18/week, $50/month, or $46/month if I buy a yearly package.
There are several exceptions and exclusions in the insurance program, fully detailed here. The policy maximum amount per person is $50,000, and $25,000 is the max amount paid per accident.
For more on Buddy, check out their website.