Why You Need Personal Watercraft Insurance (And Why Homeowners Insurance Won’t Help)

If you own personal watercraft of any kind (Jet Ski, WaveRunner, Sea-Doo, etc.), you know how fun they are. You also know they carry their fair share of risks. Such risk necessitates the correct insurance protection. 

Homeowners Insurance Coverage

Other insurance policies, such as your homeowners insurance offer valuable coverage, but they do not extend insurance to your personal watercraft. As such, you need personal watercraft insurance — a tailored solution designed explicitly to insure your investment and your liability while operating the watercraft. 

With most insurers, an un-endorsed homeowners insurance policy will exclude coverage for bodily injury or property damage liability arising out of the ownership, maintenance, or use of any watercraft, whether rented, borrowed, or owned. Those companies that offer a watercraft endorsement will generally limit the extension of liability coverage to boats of certain sizes and limited horsepower motors and exclude personal watercraft. 

The Significance of Personalized Watercraft Insurance

Legal Liabilities

Of course, you should expect that a personal watercraft insurance policy will insure the value of your watercraft itself, subject to a deductible. But what if while operating your personal watercraft, you cause an accident that damages someone else’s property, another boat or vessel, or you cause someone else to be injured? 

That’s when your personal watercraft insurance becomes crucial. The liability coverage in this insurance policy can pay for the legal costs and judgment if someone should sue you. This is really a big risk. The personal watercraft itself can be replaced. But your out-of-pocket costs can be much, much higher if someone gets hurt or legal issues arise following an accident if you don’t have the right insurance.

Customized Personal Watercraft Policies

Most personal watercraft insurance policies also offer specialized coverage tailored to the personal watercraft owners’ unique risks and needs. These “enhancements” or “options” may include:

• Towing and assistance: This coverage can help if the watercraft experiences an unexpected breakdown.
• Fuel spill liability: If your watercraft spills fuel accidentally, the insurance will cover the clean-up cost.
• Wreckage removal: After an accident in water, the wreckage removal services will bring your vessel to shore.
• Personal accessories coverage: Your watercraft insurance policies can also allow you to insure the value of your safety gear, navigation equipment, and trailers, all of which are expensive if they must be replaced.

Conclusion

Purchasing a personal watercraft insurance policy is a wise investment that covers you in the event of an accident, theft, or legal liability on the water, which is likely not included in your homeowners insurance policy.

With a personal watercraft insurance policy, you can enjoy your time on the water without worrying about the uncertainties that come with your fun activities at the lake. Don’t wait until it’s too late; instead, contact us and get the right insurance coverage today. 

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