If you own a jet ski, you might be having too much fun riding the waves to remember that you do need insurance on this type of vehicle. Even though you might call it a toy, it is a type of vehicle and, like all vehicles, has liabilities that need to be covered. Before you run out to buy a new policy however, you might want to take a look at your homeowner’s insurance. Many policies provide a small amount of coverage for damage to properties.
Even if your homeowner’s policy does cover a small amount of damage, you will still need a separate insurance policy for your jet ski. The type of watercraft, its value, and its size will all factor into your insurance coverage.
Insurance policies usually cover a wide variety of things, including:
Injury
– If someone is injured by the jet ski, your insurance policy would cover this injury.
Property damage
– If damage is done to someone’s property by the jet ski, most policies would cover this.
Liability for guest passengers
– Legal expenses that might be incurred by someone who is using the water ski with your permission would be covered.
Medical coverage
– If someone is harmed and has to pay medical bills, this would be covered.
Theft
– If someone steals your water ski, this would be covered.
Most policies will provide a certain amount of dollar coverage for each of these areas and different deductibles for each area. It is important, when buying insurance for your jet ski, that you read any and all inclusions that might be present in your policy. Some exclusions might include natural disaster coverage or theft coverage if the jet ski is not locked up.
