Accident Insurance vs. Travel Insurance

Hunter PechinJul 22 · 3 min read

Photo by Capturing the human heart. on Unsplash
a bunch of push pins in a map

Your run-of-the-mill health and auto insurance aren’t the only kinds of financial protection. You can insure just about anything. Lloyd’s of London has issued policies covering the threat of becoming a vampire or werewolf.

But beyond the zany, there are two types of supplemental insurance to seriously consider—accident insurance and travel insurance.

What Is Accident Insurance?

Personal accident insurance policies, like Buddy, typically pay you directly if you get injured. This means you decide how to spend the money. Here are a few examples of how an accident insurance claim can help you:

  • You can pay for medical expenses not covered by health insurance like copayments or deductibles.
  • You can use the money for travel plan change fees.
  • You can replace lost or damaged gear.
  • Or, whatever you choose. Buy a big screen TV to show your friends your epic GoPro footage from right before you got hurt (probably not, but you could).

When Should I Get Accident Insurance?

Accident insurance can be a great fit for that awesome outdoor adventure. If your plans include biking, skiing, climbing, competing, or something similar, accident insurance can provide peace of mind knowing that an injury won’t empty your wallet.

How Much Does Accident Insurance Cost?

Accident insurance need not be expensive. Buddy policies cost less than $10 a day for an individual. Plus, Buddy is the only on-demand accident insurance. On-demand insurance means that you pay just for the length of coverage you need. If you need coverage for a month, pay for a month. If a week, pay for a week. Or, if you only need coverage for a day, like a one-day ski trip, you pay for just one day. This flexibility saves you money.

What Is Travel Insurance?

Travel insurance covers specific financial losses when you travel. Here’s a few different ways it can help:

  • If you get sick before you leave and must cancel your trip, travel insurance covers the cost of non-refundable tickets and reservations.
  • If you get sick or injured while traveling, some travel insurance policies cover emergency medical care and transport.
  • If an airline loses your luggage or cancels your flight, you can file a travel insurance claim.

When Should I Get Travel Insurance?

Travel insurance can be a great fit for that big trip you’ve been planning. If your epic adventure requires plane, train, boat, or any expensive ticketed transport, travel insurance can protect your hard-earned savings in case you have to cancel.

How Much Does Travel Insurance Cost?

Many factors affect the cost of travel insurance. These may include the length of your trip, your age, and the details of the policy. As a general rule, you can expect a policy to cost about 4-10% of your trip cost. For example, if flight, hotel, and other insured costs total $4,000, you can expect travel coverage to cost you from $160 to $400.

Should I Get Accident Insurance or Travel Insurance?

What each covers may overlap some, but they are mostly distinct types of insurance. It all depends on your adventure plans.

Many health insurance plans still leave you with large out-of-pocket expenses if you get injured. By filling in these gaps, accident insurance can protect your savings when you go for it on the mountain biking trail. Travel insurance, on the other hand, can help protect your savings when you have to cancel that big trip because, well, you went for it on the trail and now you’re collecting signatures on your new leg cast...

In this way, accident insurance and travel insurance can complement each other. If your big trip is a ski trip, for example, a combination of both may be just what you need. That way your savings will be safe from both figurative and literal bumps in the road.

Of course, always review an insurance policy’s terms and conditions in detail before purchasing to make sure it fits your needs. Now that you know, get covered, and go!

Hunter Pechin originally wrote this post for Buddy's blog. Hunter is a Fractional Marketer and Strategist based in Richmond, VA.

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About Buddy

Buddy provides the first and only on-demand accident insurance to adventurers and athletes. Our mission is simple, to help people fearlessly enjoy an active and outdoor lifestyle.

A day of coverage costs less than a spicy burrito. Get covered in less than 3 minutes today.

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