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| Progressive Jet Ski Insurance |
Some people frequently ask us if they should get insurance for their jet ski. After all, premiums can be costly.
So it's a good question to pose. Much of it is dependent on a variety of scenarios:
- What city do you call home?
- How frequently do you ride?
- Where exactly do you ride?
- What kind of storage you have
- Your risk-aversion level
Today I'll discuss whether or not you should get jet ski insurance for your personal watercraft and trailer.
Overview of Jet Ski Insurance
Jet skis, in my honest opinion, require insurance. This is frequently a state requirement, but if you're financing your jet ski, your bank will almost always require insurance.
Those in California, Florida, Texas, and Georgia are more likely to obtain insurance first. Even if you live in a safe neighborhood and only use your PWC on lakes, it is still necessary.
IOther users consider jet ski insurance to be mandatory in countries such as Australia and New Zealand. "If you can't afford the insurance, you can't afford to go out on the water," they say. That is, do yourself and everyone else a favor and get a policy that covers both you and the machine.
Insurance policies for jet skis
Jet ski insurance covers a variety of issues, including theft, damage (on the water and on the trailer), and even public liability. So if you collide with someone on the water, you will be safe. The level of coverage provided by the company you choose is entirely dependent on them.
In most cases, you will call a company and provide them with the following information:
- Your jet ski's make and model, as well as the year it was manufactured,
- Your name, address, and age will be required so that the insurance company can provide an accurate quote.
- Any additional performance modifications that you’ve made to your PWC
- Your registration and license numbers, as well as the number of hours worked
- If you own your jet ski outright or have it financed through a lender,
You'll have a good idea of what you're looking for after that.
Please keep in mind that most jet ski insurance providers will not assist anyone under the age of 16. This is because very few states, if any, require minors to obtain a license, and they lack the confidence and ability to operate larger machines without adult supervision.
What is the significance of insurance?
Now that we've covered what's required and what's covered, let's look at why you should get a jet ski insurance policy as soon as possible.
Because it shouldn't just be a case of "I hope everything works out," because those without insurance policies are frequently caught off guard when their jet ski crashes on the rocks.
It is critical to obtain jet ski insurance for the following reasons:
- It gives you more confidence because you are protected from liabilities.
- Many banks and lenders require it when obtaining financing.
- It gives you comfort to know that you can simply replace the ski.
- Even the most sophisticated locks and alarm systems are vulnerable to theft.
- Policies may cover hull damage and engine problems in some cases.
The most significant one I discovered is organized group rides. You know, when a group of people get together with the intention of riding somewhere for the day. 100 miles away
Each PWC rider, regardless of brand, will be asked to provide a photocopy of their insurance policy to the group leader(s). Yamaha riders are just as likely as SeaDoo riders to crash and cause damage.
So having an up-to-date jet ski policy is critical not only to cover any damage or theft, but also to avoid embarrassment and having to ride alone while others enjoy themselves as a group.
Selecting the Best Policy
Many beginners make the mistake of selecting the wrong policy when looking for jet ski insurance for their specific make and model.
There are some things to keep an eye out for. After all, there are low-cost jet ski insurance policies available, but they only cover the essentials. You must read the fine print to ensure that you understand exactly what you are looking at.
I would suggest you ask questions like:
- If your insurance policy is renewable year after year,
- In the event of a collision, how many passengers are protected?
- Any limitations imposed on the rider, such as age, speed, and abilities,
- Is the trailer and accessories covered by the jet ski insurance?
- If you have coverage for your engine and hull in the event of a sinking,
- Interstate or international coverage, such as day trips to the Bahamas, is available.If you pay your
- policy yearly rather than monthly, you will receive a discount.
- What would happen if your jet ski caught fire? Are you still safeguarded?
The best policy isn't always the most affordable. Jet ski insurance policies vary greatly, so I wouldn't recommend picking one at the bottom.
I do have an unequivocal recommendation. a resource that assists beginners in locating the appropriate insurance for their personal watercraft as well as themselves, ensuring personal injury protection.
Jet ski insurance prices
The cost of a PWC insurance policy can vary greatly. "What is the cost of not taking out this policy?" is a good question to ask. You could damage someone else's boat or jet ski while out on the water and not be able to pay for it.
When I was looking for insurance for my own jet ski, I discovered that policies ranged in price from $400 to $2,700 or more per year! It is really dependent on a variety of factors. This is why it is critical to consider various options.
A new model off the showroom floor is unquestionably more expensive than a 10-year-old ski. Because, in general, those with older skis that aren't worth much in the market opt for third-party damage coverage.
As I mentioned in the section on selecting the right policy, you should consider what you really want from your insurance. There are various add-ons that can raise your monthly or yearly premiums, but depending on your situation and riding style, you may be able to do without some of them.
Progressive Jet Ski Insurance
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| Progressive Jet Ski Insurance |
Jet ski insurance, also known as personal watercraft (PWC) insurance, will help you avoid the high costs associated with damage caused by storms, unexpected accidents, fires, and even traveling. It protects you. Auto insurance protects your vehicle with various coverages and protections based on your policy.
Jet ski insurance policies, like home, auto, and other types of insurance, come in a variety of shapes and sizes, and finding the right one can be difficult. You should think about how much coverage you want or need—some states require liability coverage—how much you can afford, and what type of coverage is best suited for your PWC use. Basic liability insurance, which protects you against accidental physical damage and bodily injury, is included in a good policy.
It's also a good idea to think about a policy that will protect you from other potentially serious or financially burdensome events, such as fuel spills or natural disasters.
Continue reading to find the best jet ski insurance provider for your requirements.
Best Jet Ski Insurance
Overall winner: Ski Safe
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| Progressive Jet Ski Insurance -Ski Safe |
Ski Safe provides comprehensive jet ski insurance for as little as $85 per year and provides customers with a variety of discounts, benefits, and customization options in order to provide affordable and dependable coverage.
Pros
- Coverage options that are adaptable
- Premiums are low.
- Several discounts
Cons
- Discounts are limited.
- In some cases, a high deductible is available.
- Some quotations are not available online.
SkiSafe, unlike many of the other providers we reviewed and included on this list, is solely focused on providing insurance for jet ski, boat, and other PWC owners. They have over 500,000 insured customers and some of the industry's lowest premiums. They also offer a variety of policies, discounts, and customization options, making them the best all-around insurance provider for jet ski owners.
Customers of Ski Safe can select from four different packages: Liability Only, Basic Package, Premium Package, and Build Your Own. Limited liability coverage starts at $85 per year, but if you want more coverage, packages start at $203 per year. Coverage can include physical damage, bodily injury, medical payments, towing, fuel spills, and roadside assistance, depending on the package you select.
Ski Safe also provides discounts for purchasing online, completing a boating safety course, and, if you don't use your jet ski all year, one for the winter lay-up period.
Ski Safe has an A+ rating from A.M. Best, and their customers are generally pleased with their coverage and overall experience with this provider. An easy-to-use online portal and resources that make it simple to pay your bill and review policy documents enhance the customer experience even further.
Nationwide is the best for bundling.
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| Nationwide Insurance |
Nationwide, a long-time leader in low-cost insurance products, makes it simple to save money by bundling your jet ski insurance with any existing or future auto, home, or life insurance policies.
Pros
- Several insurance products are available for easy bundling.
- Rates for multi-policy customers are extremely competitive.
- Deductibles are disappearing.
Cons
- State availability varies.
- Programs with limited discounts
- $27,000 is the maximum coverage value.
Nationwide is a perennial favorite when it comes to insurance policy bundles. This is because many customers find this provider to be the most cost-effective when bundling multiple policies, such as home and auto insurance. Fortunately, those discounts and competitive rates apply to Nationwide's PWC insurance as well, making them our top pick for bundling.
Allstate is the best option for policyholder benefits.
Nationwide generally offers low premiums, starting at $100, and though deductibles range from $250 to $5,000, nearly 75% of Nationwide policyholders typically carry a deductible between $250 and $500. That deductible can be reduced by $100 per year (up to $500) for each year without an accident.
Nationwide currently does not provide as many discounts as some of its competitors. Customers who complete a personal watercraft safety course will receive an additional discount. Nonetheless, their multi-policy rate keeps their prices competitive in comparison to other top providers.
A.M. Best awarded Nationwide an A+ rating for its flexible PWC policies, which include bodily injury liability, property damage liability, protection from uninsured and underinsured motorists, collision and damage payments, medical payments, and on-water boat towing and labor.
They also provide comprehensive coverage to safeguard your investment in the event of a fire, theft, or storm. As an added bonus, their coverage has no real geographical limitations, making it an excellent choice for jet ski owners who aren't tied to a single location.
Allstate is the best option for policyholder benefits.
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| Allstate Insurance |
Allstate policyholders can receive discounts on their jet ski insurance, other Allstate policies, and purchases made with Allstate's partner merchants.
Pros
- There are numerous opportunities for policy discounts.
- Deals with affiliate merchants
- Rates that are competitive
Cons
- There is no online quote available.
- State coverage and offers differ.
With a slogan like "you're in good hands," it's no surprise that Allstate's benefits go above and beyond what you'd expect from a well-known insurance company. Allstate offers policyholders a diverse range of discounts and services both within and outside of their organization, and with rates as low as $20 per month, they are the top choice for policyholder benefits.
The benefits begin with substantial discounts based on a variety of eligibility criteria. Multi-policy (up to 20%), full-pay (10%), homeownership (10%), and boat education course (5%) discounts are available to Allstate insurance customers. They also provide a 6% discount when you sign up for autopay.
Customers of Allstate can also receive discounts and benefits from Allstate partner organizations such as Intuit, HomeAdvisor, Kiddie, PODS, Budget Rental, Auto Zone, Valvoline, SiriusXM, and Avis.
With an Allstate boat or PWC insurance policy, you'll get coverage for watercraft damage, medical payments, and watercraft liability, as well as coverage for property damage, repairs, emergency services, and uninsured watercraft. Allstate also offers optional Agreed Upon Value coverage, which allows you to recoup the full purchase price (the time of purchase value) of your jet ski regardless of market value at the time of a claim.
Progressive is the best option for multiple jet ski coverage.
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| Progressive Insurance |
Progressive provides multi-unit discounts in addition to multi-policy discounts, making it simple to save if you insure more than one jet ski or other PWC.
Pros
- Discount for multiple watercraft
- Discounts for group purchases
- Policies worth up to $500,000
Cons
- Deductibles could be raised.
- Less adaptable
- Maximum coverage limits are lower in some areas.
Progressive has been in business since 1937 and is one of the most well-known insurance companies in the United States, with an extensive collection of comprehensive insurance policies to cover a wide range of property, including boats and personal watercraft.
Customers who purchase coverage for more than one boat, jet ski, or other personal watercraft receive a discount from Progressive. This makes them an excellent choice for anyone looking to insure multiple jet skis.
If you only need basic coverage, you can insure one or more jet skis for $100 per month. You'll get liability insurance and coverage against uninsured boaters with their Basic plan. Progressive's Choice and Plus plans, which include medical payments, comprehensive insurance, and totaled vehicle loss coverage, can help you increase your coverage.
If you want a more comprehensive insurance policy, you can save money by insuring more than one jet ski. However, those aren't the only discounts available to you. Progressive also offers discounts to policyholders who bundle other Progressive policies, own the PWC outright, have a clean driving record, or transfer coverage from another company. Members of the United States Coast Guard Auxiliary, USAA, and the United States Power Squadron (USPS) can also benefit from additional discounts.
Progressive customers can expect deductibles ranging from $500 to $5,000, as well as jet ski coverage up to $27,000. It's worth noting, however, that coverage limits can vary depending on your location. Customers in hurricane-prone zip codes, for example, may have lower maximums.
Despite some negative customer feedback, Progressive has received an A+ rating from A.M. Best and is a popular choice among boat and watercraft owners.
Markel is the best choice for custom coverage.
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| Markel Insurance |
Markel specializes in one-of-a-kind insurance policies that allow you to participate in the watersports you want.
Pros
- Flexible
- Decreased deductible
Cons
- It is difficult to obtain a quote online.
- There is no option to combine with home or life insurance.
Watersports are not covered by all insurance companies, but Markel is one of them. Markel coverage, unlike other providers, allows you to customize policy coverage, making them a top choice for anyone looking for insurance to suit those activities or needs.
Markel is a specialty insurance company that offers coverage for extremely niche markets such as personal watercraft, motorcycles, off-roading, and even horse ownership. Markel's PWC coverage includes the following:
- Actual cash value (ACV) and agreed value options for physical damage
- Damage that occurs as a result of normal wear and tear, such as fires, collisions, or strandings.
- Ice and freezing damage if you hired a winterization service but your jet ski still suffered damage.
A Markel PWC policy will also cover watercraft liability, medical payments, uninsured boaters, and emergency towing and assistance. You'll also be able to tailor your policy to include trailer, lift, and trip coverage.
Markel, like other PWC insurance providers, offers a few discounts, such as a multi-unit discount, experienced boater discount, and mature operator discount for policyholders 40 and older. There's also a diminishing deductible, which reduces your deductible by 25% each year and allows you to have a $0 deductible after your fourth year of coverage.
Global Marine Insurance Agency is the best for commercial use.
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| Global Marine Insurance |
Many insurance policies exclude commercial use of jet skis, but Global Marine Insurance has created a policy that can cater to the entrepreneurial-minded.
Pros
- Simple online quote request
- Coverage options that are adaptable to your needs
- Pricing that is competitive
Cons
- In the state of Florida, this is not valid.
- A minimum of five personal watercraft is required.
The insurance policies discussed above are for personal-use jet skis; however, what if you intend to rent out your jet ski or other PWCs? Many standard policies do not cover commercial use, so if you want to rent out jet skis, you'll need to find a commercial insurance provider. Global Marine Insurance has the best commercial use provider because it offers a comprehensive jet ski rental policy.
Extraneous expenses associated with medical expenses or employee negligence, equipment replacement costs associated with client negligence, and equipment replacement expenses in the event of catastrophic storms or flooding are all covered by a basic Global Marine insurance policy.
Jet ski insurance add-ons and extended policies are available from Global Marine Insurance. This includes dealership coverage, which protects your investment while hauling, anchoring, and servicing; marina coverage, which protects against damage while storing or winterizing; and marina operators' legal liability, which eliminates liability if a PWC or boat is damaged while in your care or control.
Not thinking about a commercial use policy? Global Marine Insurance Agency also provides reasonably priced personal jet ski policies.
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