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Boat and PWC Insurance Basics

With warmer weather right around the corner, it’s time to consider outdoor activities…like boating.  Do you have a boat? Are you considering getting a boat?  Then you need to do your research when considering boat insurance.

Boat Insurance

What does it cover?

Good question.  As one of the oldest forms of insurance, boat insurance policies can vary widely.  Naturally, it all depends on the coverage you need.

Physical Damage Coverage

This coverage insures your boat against damage caused by sinking, fire, storms, theft and collision.  The hull and other permanent structures are usually covered.

Liability Coverage

This coverage applies if your boat causes injury to others or damage to other boats, docks or structures.

Guest Passenger Liability Coverage

This coverage protects you should an event occur with someone using the boat with the owner’s permission.

Medical Payment Coverage

This coverage helps to cover medical bills if you or others are injured while operating or occupying your boat.

Now that we know some of what boat insurance covers, you should know that you can receive discounts on your policy if you have certain things on your boat.  You can receive discounts for having the following:

  • Diesel powered craft
  • Coast Guard approved extinguishers
  • Ship-to-shore radios
  • Boating and water safety education courses
  • Multiple policies with your insurance company

PWC – Personal Water Craft

Personal Water Craft (PWC) like jet skis, sea doos and wave runners can be lots of fun.  However, as it is with any other moving vehicle, accidents can and do happen.  It is important that you insure yourself properly to protect yourself.

So, what does PWC Insurance cover?

A PWC policy covers you or someone you’ve allowed to operate the craft.  Should an incident occur, the policy covers:

  • Bodily injury to another person
  • Bodily injury to you that is caused by an uninsured PWC operator
  • Property damage to another PWC, boat or dock
  • Legal costs if you’re sued due to an accident
  • Replacement costs if a PWC is damaged beyond repair in the first 18 months after purchase
  • Towing

Comprehensive coverage also exists for PWC, which will add coverage to your policy for:

  • Accidental damage to your PWC caused by fire, storm, flood, or vandalism
  • Theft of your PWC
  • Damage caused by uninsured boat or PWC
  • Injury to you or your passenger caused by boat or PWC
  • Damage to other vessels caused by your jet ski

Now that we know about what PWC insurance covers, we need to talk about what isn’t covered.  If you have a PWC, you need to be aware of what you are not allowed to do in relation to your policy.

PWC policies do not cover:

  • Any craft that has been modified to enhance speed and performance
  • Any incidents that occur due to operation after dark (dusk to dawn)
  • Any incident that occurs and you do not have a valid driver’s license

Now that you know the basics, you can do some research on the policy you need.  If you need some in-depth help, be sure to contact your insurance agent.

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