Attention adventurers: You no longer have to choose between eating/paying rent and having health insurance. Spot, a new insurance company, this week announced subscription-model accident insurance that covers out-of-pocket expenses — including high deductibles for major medical policies — that looks easy and affordable.
For $20 a month, the plan covers up to $20,000 in out-of-pocket medical expenses for injuries as well as $50,000 to your heirs in case of death or loss of limb. Signing up takes under 90 seconds online and only requires a birth date and home address, which hopefully for you is in one of the 17 states where Spot is currently available.
“When we set out to create Spot, we asked ourselves, ‘What would it look like if Red Bull and GoPro created an insurance company?’” CEO Matt Randall said.
“After seeing many close friends struggle with medical bills, we created what we believe is the most affordable and targeted product for our generation. Most importantly, we want to encourage people to live life to the fullest, and I would argue we are the only company in the insurance space that would stand behind that claim!”
Spot is the first company to create an injury insurance subscription that covers thousands of adventure activities at such a low price. It aims to relieve hikers, climbers, bikers, and others from worrying about friends having to set up a GoFundMe campaign should they break their neck, tear an ACL, or suffer a wild boar attack.
With Spot, every accident is reimbursable up to $20,000. So whether the boar attacks this week or the ACL tears next week, Spot will cover it to $20,000. Although the policy covers most activities you can think of, some especially risky pursuits — like parasailing, skydiving, squirrel suiting, drag racing, piloting a plane, and anything illegal or under the influence of drugs — aren’t covered.