Detailed Look at Personal Watercraft Insurance

Thousands of people across the country enjoy taking their watercraft out on the water during warm days. Some enjoy throwing parties and hanging out with loved ones, while others use the time to relax and unwind. Be aware that there are multiple risks associated with operating a watercraft. An accident can occur at any time. That’s why watercraft owners are encouraged to purchase personal watercraft insurance. Personal watercraft insurance adds a layer of protection if something goes wrong.

Here’s a closer look at some key variables.

  • Insure Each Watercraft
    You may own multiple watercraft. It’s recommended that you obtain coverage for each one. Your insurer should help you assess your options. You can cover your watercraft through your boat insurance policy.
  • Focus On Specialized Coverage
    Personal watercraft insurance is designed to cover you in multiple situations. The policy covers you if you are responsible for accidentally injuring someone. You’re also covered if your watercraft accidentally causes property damage. Personal watercraft insurance covers the injured party’s medical fees and potential replacement or repair costs for damaged property. Medical payments coverage is designed to protect you if you sustain any injuries due to a watercraft incident. It’s recommended that you inquire about whether theft or vandalism coverage is included in your policy. Your policy deductible is another variable to watch closely. Your policy deductible is the expected out-of-pocket costs toward a covered loss before your insurance handles the rest. Review your policy limits carefully, as each state requires a different minimum coverage level.
  • Notify Your Insurer Immediately If There is an Issue
    Personal watercraft insurance covers the watercraft. The policy will remain active whether you are operating the watercraft or allowing one of your loved ones to use it. However, it’s still recommended that your insurer carefully review the policy with you. You may be involved in a unique accident where you may be surprised to learn you aren’t covered based on complicated policy language. There may be different policy guidelines based on a person performing a negligent act while operating your watercraft, a collision with wakeboarders or skiers, physical damage to your equipment on the watercraft, and a collision with an uninsured watercraft. Each situation is different, so learning as much information as possible about your personal watercraft insurance policy is recommended.
  • Potential Exclusions
    Your personal watercraft insurance policy will likely contain some exclusions. These are situations where you aren’t covered through your policy. A standard exclusion in most policies is any damage to an enhanced watercraft. Consider amending your policy so you’ll be covered if a unique situation arises. You can add extra coverage to protect you if any of your items on the watercraft are stolen or damaged. Emergency towing coverage is another popular policy add-on. Emergency towing coverage ensures you receive urgent care if your watercraft is totaled or suffers engine failure. You can also amend your policy to protect yourself if your watercraft sinks. It’s recommended that you inquire about whether your policy includes navigational limits. Your maritime limits are the areas you are allowed to operate your watercraft while still being covered. You’re entirely responsible for any issues if you are operating the watercraft outside of a covered area.

Consult with Jack Stone Insurance!

Obtaining personal watercraft insurance allows you to protect one of your most valuable assets. The team here at Jack Stone Insurance will help you find the right policy to stay protected while you’re out on the water. Contact us to get the best watercraft coverage.

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