Personal watercraft are not generally covered by homeowners or auto insurance, and where they are, the coverage limits can be fairly low. You may need to purchase a specifically designed policy in order to insure these vessels. The personal watercraft policy covers:
- Bodily injury
- Property damage
- Guest passenger liability
- Medical payments
Typical policies include deductibles of $250 for property damage, $500 for theft and $1,000 for medical payments, although these may vary from company to company.
Liability limits start at $25,000 and can be increased to $300,000. This coverage will provide financial protection if your personal watercraft is involved in an accident.
Most policies also include water sports liability, which covers risks associated with activities such as waterskiing.
Consider buying an umbrella policy which will provide more liability protection. One million dollars in extra coverage costs about $300 a year and would extend to your home and auto insurance policies.
If you have several personal watercraft, you may qualify for a multi-boat discount on your insurance. Additional coverage can also be purchased for trailers and other accessories.
©Insurance Information Institute
Do you have another type of vehicle or property that also needs insurance? If you have a car, boat, snowmobile, RV, own a home or if you are a landlord or renter, you might save money by having them all covered by the same company that insures your personal watercraft.
If you would like further information or a quote on Personal Watercraft Insurance, call or stop by any of our three offices or simply fill out our contact us form and put Personal Watercraft Insurance in the subject area.