A new start-up in Richmond is looking to fill a gap - insurance for adventurers.
Charles Merritt likes to mountain bike, climb and spend time outside. He has a whole community of friends who do the same.
There have always been stories of people getting hurt, followed by sympathy from friends and family.
“And then at some point in the last five or six years a lot of the stories started being about not only that, but ‘Hey we need to contribute to the Go Fund Me. We need to help pay for someone to get back on their feet.’”
His Richmond based start-up, called Buddy, is a supplemental insurance company that aims to do just that. It’s not meant to replace health insurance. It’s meant to fill the gaps for high deductible plans.
“Last year the individual plan had a deductible of over $4,000. So you’re on the hook for that before your plan kicks in. And that’s what we’re trying to address.”
People can buy annual coverage at about $50 a month, or they can get coverage for a single day, or a week-long trip.
Buddy is selling plans in Arizona already, and they’re filing paperwork to get up and running in eight other states soon -- including Virginia.
This story was produced by RADIO IQ’s Mallory Noe-Payne.
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
