On-demand insurance is springing up in the form of new insurtechs that are looking to fill the gaps left behind by traditional insurance policies. Some specifically cover phone screens, some cover bike theft, some cover small object insurance - and some of them are for the adventurous. 

Buddy Insurance is a US-based insurtech offering on-demand accident insurance for backpackers, cyclists, snowboarders, river runners, and all others who seek out adrenaline filled experiences outdoors. The company offers pay-by-day, -week, -month, or -year insurance that covers all but a select few outdoor experiences (think speeding down a mountain on a bike). 

The product is also designed for individuals and families that enjoy long-term outdoor activities, like backpacking, hiking, or camping, that want to security of being covered while they’re gone without having to pay for a long-term plan. Given that the majority of people who don’t complete planned hikes or adventures don’t because of some sort of injury, Buddy could be just the thing to save the day.



The company was started by Charles Merritt and Jay Paul, who are both singletrack cyclists, river runners, skiers, snowboarders, and adventure racers. The two friends were frustrated by what they saw in accident insurance; a complicated, costly, and inefficient product. This was exacerbated by seeing people finding personal solutions to cover the costs of injuries that their insurance policies weren’t covering. 

“After contributing to GoFundMe after GoFundMe for friends, we decided that we could do something about it,” says Merritt.

The result is Buddy, and the rest is history. You can purchase Buddy insurance policies online or on your phone in as little as 90 seconds and the company is available in states including Colorado, Arizona, Texas, Ohio, Kentucky, and Tennessee. The policies are backed by a number of insurers, including Lloyd’s of London. 

“Our goal is to help outdoor enthusiasts live their lives more fearlessly,” says Paul.

“Our on-demand accident insurance does that by giving people a fast and light way to protect from the maybes. We all know the feeling of maybe or what-if when we’re about to take on something big. Those doubts can cause use to second guess the commitment to a jump or take out minds off our foot placement just long enough to cause a mishap,” adds Merritt.

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