What is the difference between 'verpassen' and 'vermissen'?

This can be a little confusing, as both verbs translate as 'to miss'. When wanting to say in German that you missed the bus, you might instinctively use 'vermissen', as it sounds more similar to the English word, however, this version of the verb is only used to express the feeling of missing someone or something, for example 'Ich vermisse meine Oma' (I miss my granny). When talking about a bus, deadline, or any other event that you missed, or that passed by, you must use 'verpassen'. E.g. 'Ich habe den Bus verpasst'