Your Basic Guide to Jet Ski Insurance

If you own a jet ski, you may not have thought about obtaining insurance for it. You may consider such a cost unnecessary for a watercraft that you use only a few times a year. However, jet ski insurance, also known as personal watercraft insurance, does more than simply cover your jet ski in case there is some damage to it; it also protects you from property damage and personal injury liability.

What happens if you lend your jet ski to your friend and he or she hits a dock and breaks his or her arm? Not only are you now financially responsible for a damaged dock but you are also personally liable for your friend's medical bills. If you had purchased personal watercraft insurance ahead of time, you would be covered for property damage as well as any medical costs.

On the other hand, if you are riding your jet ski and it happens to break down in the water after hitting a tree stump, personal watercraft insurance will cover the cost of the jet ski towing and repair. It will also cover you medically in case you sustained any injuries while hitting the tree stump.

Keep in mind that personal watercraft insurance will not cover you if you modify your jet ski for greater speed and/or performance. Likewise, you need to have a valid driver's license while operating your jet ski. Finally, your insurance won't cover you if you are operating your jet ski after sunset or before dawn.

Personal watercraft insurance costs between $250-$300/year to purchase. You may be able to add this insurance to your current auto/truck insurance in order to get a lower rate. Some insurance providers will also give you a policy discount if you take a personal watercraft safety training course. If you use your jet ski for only a part of the year, you may be able to "freeze" your policy when your jet ski is not in use. Also, if several of your friends and/or family members are using your jet ski, you may wish to talk with them about "pooling" together to purchase a policy.

Having personal watercraft insurance is not obligatory like auto insurance. However, if you live on a big and busy lake or have several friends and family members who regularly borrow your jet ski, it may be in your best interest to obtain insurance coverage. After all, it is better to have a policy that you don't need than to need a policy that you don't have.