Waverunner insurance or Jet Ski insurance is commonly, referred to as, a PWC or Personal Water Craft Policy.If you already have boat insurance, most insurance companies will allow you to add your PWC to your existing policy, however, if you do not have an active boat insurance policy — you will need to open a PWC policy to provide ample coverage for your watercraft.
PWC Policy: Coverage
A PWC insurance policy generally, covers watercraft owners in most liability situations, whether another person borrows the watercraft or whether the policyholder was operating the waverunner, at the time of the claim. Possible liability situations that are often, covered by a PWC insurance policy includes:
1. negligence of another operator while using your waverunner
2. medical costs and funeral expenses in the event of bodily injury or death of another person, as a result of your negligence
3. repair and replacement costs for damage to your personal valuables
4. repair and replacement costs for damage to another dock or another craft
5. fuel spill protection
6. towing costs for water skiers or wake boarders who were injured, as a result of your negligence
7. medical bills to cover injury to you, as a result of an uninsured watercraft operator;
8. repair costs for physical damage to the machinery, the equipment and the hull; and
9. towing costs, in the event that you break down in the water
PWC Policy: Limits
While a Personal Water Craft policy covers quite a bit, there are also many situations where, even under a PWC policy — your watercraft will not be covered. Waverunners that have been modified to enhance the craft’s performance and/or speed, the operation of a waverunner any time between dusk and dawn, and operating a wave runner without a valid driver’s license. If any of the above mentioned factors are present, most insurance companies will not cover a waverunner because the risk to the provider is higher than it would be in a normal situation.
PWC Policy: Discounts
PWC owners can save on their waverunner insurance by qualifying for various discounts through participating insurance providers such as, Nationwide, Progressive and GEICO. Some of these discounts include:
1. Boater Safety Course discount
2. Claim-Free Boater discount
3. Multiple Boat Coverage discount
4. Discount for Diesel Fuel Usage
5. Multi-Policy discounts- when your waverunner is insured through the same company or covers your home, health or auto insurance.