4 Things to Know About Insuring Personal Watercraft
Though not always required by law, purchasing a personal watercraft insurance policy can help keep your hobby from turning into a financial nightmare. Since your PWC isn’t usually covered under an auto or homeowner policy, there are few things to keep in mind when deciding to purchase PWC insurance.
Know the Coverage Areas
A general PWC policy has three coverage areas. These include bodily injury, property damage, and medical payments. There is often a deductible before claims are made, and there will be liability limits.
Insure Each Watercraft
You will need to make sure each PWC you own is insured, but depending on the agent you use, you may not need separate policies. Some boat insurance policies can be written to include PWCs in the coverage.
Get to Know Your Policy
If you decide to loan your PWC to someone else, make sure coverage includes anything that happens if this occurs. Make sure there is coverage for bodily injury, death, property damage, and any negligence on account of the PWC operator at the time.
Buy Supplemental Coverage
Depending on who you choose for an insurer, there may be gaps left in the coverage. Always look to purchase the most comprehensive policy, or secure additional coverage as needed.
An accident involving a PWC can have serious consequences. Make sure you have followed your state laws requiring insurance coverage.