With around 470 total ski resorts in America, companies are striving to offer different proposals within passes. Telluride, located in Colorado, is promoting its new $25,000 insurance plan that is now offered to skiers, differing it from old methods and ways of competing hills.
A startup insurance provider known as Spot has partnered up with Telluride to provide a unique option to skiers and snowboarders. This new business tactic is $25,000 insurance policies to ensure skiers and boarders who find themselves injured on the mountain. The cost will be included in every lift ticket and season pass. Unfortunately, this season’s price for tickets and passes hasn’t been released yet. The policies include $25,000 for medical costs resulted from an accident on the hill. Fortunately, there is no limit on how many accidents can be covered, as long as expenses are less than $25,000. Besides this plan, Spot offers “on-demand injury insurance policies directly to consumers,” as reported by The Colorado Sun. These policies that flow directly to customers range from $25 to $30 a month and are additionally offered through partnerships.
Although Telluride is one of the first to offer this convenient feature, many resorts are hot on its trail. Spot has reported that they have raised $17.5 million in funding which will be put towards increasing its staff and expanding to new partnerships. Additionally, Spot extends its cause to other sports such as members of USA Cycling and the National Ski Patrol. Not only that, but they also provide their services to cycling, motorcycle athletes, and runners in races.
“We plan to be live on a number of mountains next season,” Matt Randall said, the CEO and co-founder of Spot.
According to CNBC, two-thirds of people who file for bankruptcy blame medical bills on their financial situation. With the service Spot and Telluride offer, guests can relax and ski without worrying about having to unwillingly spend thousands of dollars in the emergency room. In fact, professional skier Julian Carr put Spot to good use when he was fully imbursed to cover a $2,000 medical bill due to a broken pinky. Spot and Telluride’s policies will hopefully encourage competing hills to consider the ease of mind built-in insurance plans can provide guests with.