Jet Ski Insurance: A Guide
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You should consider getting insurance if you own a jet ski or waverunner. Jet ski insurance can protect you financially and provide peace of mind while you enjoy your jet ski.
Insurance is not a one-size fits all, and the information provided below is for reference only.
Click here to see a list of available providers.
This is a quick article about jet ski insurance, such as what it covers, whether seasonal coverage is available, how much it costs, and where to get it.
Why Do You Need Jet Ski Insurance?
Whether it’s a personal watercraft that costs under $10,000 or a premium PWC that doubles the amount, insuring it makes sense.
According to the US federal government, jet ski insurance is not a legal requirement but is strongly recommended and required in certain states. Although some states, such as California and Florida, do not require jet ski insurance for registration and licensing.
Most lending institutions will require proof of insurance if you finance your jet ski. But let’s face it, the main reason you need jet ski insurance is the same reason you insure your car, your house, and your other expensive toys. You need to limit your liability and protect your money.
Without insurance, you could find yourself on a quick journey to the poor house.
What does Jet Ski Insurance Cover?
Jet ski insurance policies differ between insurers, but most cover common risks such as collision, theft, vandalism, fire, and weather-related damage. They may also provide liability coverage, which protects you from lawsuits if you have caused injury or damage to others.
In some policies, additional benefits include medical payment coverage for injuries, personal property coverage for lost or stolen items, and towing or emergency services. However, it is critical to carefully read the policy terms and exclusions to understand what is and is not covered.
Is Seasonal Coverage a Possibility?
Jet ski insurance does provide seasonal coverage. Some insurance companies offer short-term policies that cover you during the peak season when you use your jet ski. This type of insurance may be more cost-effective if you only use your jet ski for a few months out of the year.
You may require a full-year policy that provides continuous coverage if you use your PWC all year or in multiple locations. Before deciding, weigh the benefits and drawbacks of seasonal jet ski insurance.
Seasonal jet ski insurance may only cover you during certain months of the year, leaving you vulnerable during the rest of the year. If you store your jet ski during the off-season, damage or theft may still occur.
If you buy seasonal jet ski insurance, you may have to reapply for coverage each year, which can be time-consuming and inconvenient. Some insurers may not provide seasonal jet ski insurance or restrict coverage to specific regions or types of jet ski. This can make finding the best policy for your needs difficult.
How Much Is Jet Ski Insurance?
The cost of jet ski insurance is determined by various factors, including the value and age of your jet ski, location, driving record, and the coverage limits and deductibles you select. A jet ski insurance policy could cost between $100 and $500 per year, depending on your carrier and the coverage you want. However, prices vary significantly between insurers, so obtaining quotes from multiple providers and comparing their prices and range is best.
Where Can I Get Insurance?
Jet ski insurance is available from various insurance companies, including national providers such as:
Some local and regional insurers can also make sense with a pre-existing relationship.
Quotes and policies can be obtained online, over the phone, or through local agents. When selecting one, consider an insurer’s reputation, financial strength, customer service, policy features, and pricing.
Finally, jet ski insurance can be an excellent investment for any jet ski or waverunner owner looking to protect themselves from financial losses and liabilities. You can make an informed decision and enjoy your water adventures with peace of mind if you understand what it covers, how much it costs, and where to get insured.
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