Why Your Jet Ski Needs a Different Policy Than Your Fishing Boat.
One is a Motorcycle on Water. The Other is a Floating Living Room.
The way you use a 15-foot fishing boat is completely different from how you use a high-performance Jet Ski. The fishing boat is for slow, leisurely activity. The Jet Ski is a high-speed, agile “motorcycle on the water.” A Personal Watercraft (PWC) policy is specifically designed for the higher risks of a Jet Skiāspeed, trick riding, and towing tubers. It has specialized liability and medical payments coverage that a standard boat policy might not, reflecting the unique dangers of a PWC.
The High-Risk World of PWC: Why Jet Ski Insurance Can Be More Expensive Than You Think.
Speed Kills… Your Insurance Rates.
I was shocked when the insurance quote for my new Jet Ski was almost as much as the insurance for my 22-foot pontoon boat. My agent explained why. Personal Watercraft (PWC) like Jet Skis and WaveRunners are involved in a disproportionately high number of accidents and injuries. The combination of high speeds, inexperienced riders, and risky maneuvers makes them a much higher risk for an insurance company. The premium reflects the statistical reality that these fun machines can be very dangerous.
Boat vs. PWC Insurance: One Covers the Trolling Motor, The Other Covers Tow-Sports Liability.
Tailored Coverage for Different Activities.
A good boat insurance policy will have specific coverage for things like your expensive fishing gear, your trolling motor, and your GPS equipment. A good PWC insurance policy, on the other hand, will have a strong focus on liability coverage for “towed water sports.” This is a crucial coverage that protects you if someone gets injured while you are pulling them on a tube or a wakeboard, which is one of the most common ways people use a PWC.
“My Friend Crashed My Jet Ski.” The Liability Nightmare You Need to Avoid.
Your Policy Needs to Cover Your Friends and Family.
The nature of a Jet Ski is that you let other people ride it. It’s part of the fun. This makes it absolutely critical that your PWC insurance policy has broad “permissive use” coverage. This means the policy will still protect you if a friend or family member crashes your PWC and injures someone. Without this, you could be personally on the hook for a massive lawsuit. A standard boat policy might be more restrictive about who can operate the vessel.
Does Your Homeowners Policy Cover Your Boat? (Hint: Barely, If at All).
A Common Myth That Can Lead to a Total Loss.
Many people mistakenly believe their homeowners insurance provides adequate coverage for their boat or PWC. This is dangerously false. Most homeowners policies provide only a tiny amount of coverage (maybe $1,500) for damage to your watercraft, and only if it occurs on your property. More importantly, they provide almost no liability coverage for accidents that happen on the water. You absolutely need a separate, dedicated policy for your boat or PWC.
The Specific Coverages a PWC Policy Has That a Boat Policy Doesn’t.
Designed for a Unique Type of Risk.
A specialized PWC policy will often include unique coverages that a standard boat policy might not. This can include things like coverage for the custom trailer that came with your Jet Ski, or special rental reimbursement coverage that helps you rent another PWC if yours is being repaired after an accident. It is a policy that is fine-tuned to the specific needs and risks of a PWC owner.
From Bass Boats to Sea-Doos: Tailoring Your Coverage to Your Craft.
One Size Does Not Fit All on the Water.
The key to good marine insurance is to match the policy to the watercraft. A slow-moving pontoon boat needs a policy focused on passenger liability and property coverage. A high-performance bass boat needs a policy that covers expensive electronics and high speeds. A PWC needs a policy that is heavily focused on medical payments and water sports liability. Always work with an agent who understands these differences to ensure your policy is a perfect fit for your specific vessel.
The Lay-up Period: How to Save Money on Your PWC Insurance in the Winter.
Don’t Pay for Coverage When Your Jet Ski is in Storage.
One of the best features of a PWC policy is the “lay-up” period. You can tell your insurance company the dates that your Jet Ski will be in storage for the winter. During this lay-up period, the policy will automatically remove the expensive liability and on-water coverages, leaving just the basic protection against fire, theft, or vandalism. This can significantly reduce your premium for the months you aren’t using your PWC, saving you a substantial amount of money.
Medical Payments Coverage: A Must-Have for High-Speed Personal Watercraft.
Protecting Yourself and Your Passengers, Regardless of Fault.
Given the high risk of injuries on a PWC, having a robust “Medical Payments” coverage is essential. This coverage pays for the medical bills of you and your passengers if you are injured in an accident, regardless of who was at fault. It is a no-fault coverage that provides an immediate source of cash to pay for hospital bills or deductibles, without having to go through a lengthy liability lawsuit. It is a crucial safety net for a high-speed, high-risk activity.
Don’t Insure Your 80 MPH Jet Ski with a Policy Designed for a Pontoon Boat.
It’s the Wrong Tool for a Very Dangerous Job.
Trying to insure a high-performance personal watercraft on a standard, generic boat insurance policy is a massive mistake. You are using the wrong tool for the job. The risks, the usage, and the potential for liability are in a completely different universe. You need a specialized PWC policy that is specifically designed with the high speeds, the towing liability, and the unique risks of a “motorcycle on the water” in mind.