If you're an avid watercraft enthusiast with some nice toys in your garage, you might want to check into watercraft insurance. Don't assume that your craft is covered under homeowners insurance, because in most cases, they aren't. First, know your watercraft! Fully understand all operational aspects and characteristics before heading out onto the open water. Your personal watercraft is considered a powerboat, so you need to obey the rules governed for powerboats by the Coast Guard and other marine authorities. Your local waterways sometimes have their own guidelines for use, so get to know and understand them as well.
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Who/What Is Covered?
It comes down the policy specifics, but in most cases, the policy will cover you, your spouse, or any other household member that have permission to ride the craft. The policy will pay for bodily injury or other property damages caused by the craft. Various available coverage includes medical payments, physical damage, uninsured boater, and personal effects.
This extra coverage will pay for the cost of necessary medical treatment that results from an accident involving the watercraft.
This will cover the cost of repair to the watercraft if you are in a collision with another craft or other object. In most cases, you'll also be covered in cases of theft, vandalism, or fire.
This coverage pays for medical treatment that results from an accident with another boater who does not have insurance.
This optional coverage will cover some of the various common contents kept within a watercraft. These may include cameras, binoculars, clothing, or assorted accessories.
If you haven't already, look into taking a watercraft safety course. Not only will it make you a more proficient rider, but you'll receive a premium discount from most providers. It can range anywhere from 10-15% off.