Average Cost of Jet Ski Insurance (And if You Need it)


Once you get a jet ski you should get it insured before you even take it out on the water. You may be wondering how much insurance for your jet ski will cost so here is the average amount.

The average cost of a typical jet ski insurance plan for one year can cost anywhere from $150 to $500. It is not a legal requirement to have insurance for a jet ski according to the US national government, but it is strongly recommended and required in certain states.

Jet ski insurance may sound like your just burning extra cash, but it can be really helpful. It’s great to have peace of mind when it comes to expensive toys and jet ski insurance is generally worth it.

Factors that Play into the Cost of Insurance

Here is a list of all of the factors that the cost of insurance depends on:

  • Year, make, and model of the PWC
  • Horsepower
  • Engine type
  • Maximum operating speed
  • Value of your jet ski
  • Any modifications made to the PWC
  • Boater safety courses that you have taken
  • Your driving record
  • Length of the watercraft
  • Weight of the watercraft
  • Seat capacity
  • Whether you have a trailer or not
  • Your age
  • Where you keep your jet ski
  • Whether you pay annually or monthly

Just like car insurance, PWC insurance price is dependant on a long list of things. It is always a good idea to have a clean driving record and to take safety courses that are up to date with today’s rules to get the best rate.

Your jet ski insurance rates will depend on the type of coverage that you choose. For example, if you only want to cover your PWC in the event that it is damaged or you cause injury to another person, you can get a minimum amount of coverage.

If you also want full replacement cost coverage for your jet ski you will have to pay more. You get to decide what you want to be covered.

Why You Should Invest in Jet Ski Insurance

Before I go into the details of why it is a good idea to invest in insurance, I just want to start by saying that having insurance can save you hundreds of thousands of dollars in the long run.

If you do not have insurance, you can be sued for damage to property or for injuries you cause. When on the water, you could damage another vessel or injure another person. If this happens and you are uninsured, you will owe hundreds of thousands of dollars in damage.

If your jet ski is ever damaged you will not want to pay the damage. For example, if you and one other passenger are involved in an accident and your PWC is ruined, you can file a claim with your insurance company for your medical costs and replacement of your jet ski.

Once you pay your deductible, the amount of money you will receive is based on your medical bills and the amount of damage you are covered for.

In the opposite kind of scenario where you cause the accident, the other party can file a liability claim with your insurance company. Your insurance would pay the other person or persons physical injury costs and property damage. There is the possibility that it could also pay your legal expenses if you are taken to court.

Again, keep in mind that the amount of coverage available is dependant on the amount of coverage that you purchase. In my opinion, the more coverage you purchase is better because PWC accidents happen every single day. At the end of the day, it is better to have more coverage than less.

What Does PWC Insurance Cover?

Depending on the details of the policy you purchase, PWC insurance covers:

  • Physical damage to your jet ski
  • Property damage you cause (someone’s dock, boat, watercraft, etc.)
  • Bodily injury or death you are responsible for
  • Your injuries caused by an accident by an uninsured boater
  • Watersports liability for a wakeboarder/skier/etc. which you are towing
  • Medical payments
  • Wreck removal or towing
  • Personal property coverage
  • Accessory insurance for supplies and personal items on board
  • PWC trailer coverage

In most cases, you can customize your insurance policy by increasing the amount of coverage or by adding additional endorsements.

If anything goes wrong on the water, you can feel confident that your PWC insurance will have your back. From placing your jet ski on the trailer to using it in the water, PWC insurance will cover any accidents that may occur.

When looking at the big picture, paying a few hundred dollars a year is not a big deal compared to having to pay thousands of dollars up to your entire life savings in damages when an accident happens.

Your jet ski is not just a toy that you get in a McDonald’s Happy Meal. It is a big investment that can give you endless fun if you take care of it. Part of taking care of it is purchasing insurance in case anything goes wrong with it.

More important than the jet ski itself is your safety and the safety of those people out on the water with you. If you were to get in an accident you would want to know that you could get all of the care you needed without worrying about going bankrupt.

Is PWC Insurance Required to Have?

Whether it is required to have insurance for your jet ski depends on your state’s requirements. Many states require liability insurance coverage in order to cover your legal responsibility in case you injure someone or something. In general, boating insurance and watercraft insurance are not required but are strongly recommended.

It is best to check your PWC insurance requirement laws where you live so that you can be sure you are abiding by the law.

Utah and Arkansas have some laws associated holding liability insurance when operating PWC. To read more about the restrictions, you can read this article here.

If you financed the purchase of your jet ski, your lender will most likely make you purchase comprehensive PWC insurance. Another case you may have to purchase insurance is if you dock your jet ski in a marina.

Before you rent a jet ski, make sure that the owner of the rental shop has insurance on the jet skis so that in case anything happens it will be covered. It is required in the United States that all PWC rental shops be covered with insurance to the maximum liability possible.

To find out what the specific requirements are in your state, you should contact a local independent agent with your questions. In my opinion, you should always have PWC insurance regardless of the requirement of your state. Accidents are more likely to happen than not, and you want to protect yourself and those on the water with you.

How Much PWC Insurance Do I Really Need?

The amount of the insurance coverage you do need is based on your jet ski. It depends on the horsepower and other gadgets your jet ski has.

In order to choose how much PWC coverage to buy, consider these guidelines:

  • Consider buying the maximum liability coverage (for example $500,000)
  • Pay for the highest amount of medical payments coverage (this is typically around $10,000)
  • Purchase “replacement cost coverage” for your jet ski in case it is totaled in an accident
  • Consider purchasing coverage for your personal property on board (usually around $5,000)
  • Speak to an agent about the appropriate amount of comprehensive coverage, vandalism coverage, fuel spill coverage, towing and wreckage coverage, and roadside assistance

What is Not Covered By Jet Ski Insurance?

There are a few cases where PWC insurance companies will not cover you:

  • A jet ski that has been modified to enhance the speed and/or performance
  • When you operate a jet ski after dark (dusk to dawn)
  • Operating a jet ski when you do not have a valid boater’s safety certificate

You will want to make sure to read between the lines on your insurance policy so that you can know what you can do to be covered and what you cannot do. Some policies do cover those who join you on the jet ski, but some do not. Make sure to take these questions with you to your agent so you can be aware.

What Jet Ski Insurance Provider Should I Use?

This depends on who your current insurance provider is. It is a smart idea to shop around and find great deals from other providers because this will help you combine your other policies. Again, there are many factors that will affect how much the insurance will be. Always shop around and see who can give you the best rates.

There are many options out there when it comes to PWC insurance providers. Before you decide which one to use, you should ask for quotes with your jet skis information. Some providers will give you a discount if you have taken a jet ski safety course online and pass the exam.

The best way to get the best deal is to check with multiple insurance agents/agencies.

You should also keep in mind how you like to operate your jet ski; if you like to drive super fast and do crazy stunts, you will need to purchase more insurance. However, if you have young kids and you only take your jet ski out on slow rides, you may not need to purchase the maximum liability.

When is the Best Time to Buy PWC Insurance?

Unlike the boating industry, the insurance industry does not promote lower prices during the off-season. This means that any time is a great time to buy insurance for your jet ski. Shopping around is the smartest thing you can do to find the best prices.

The best time to buy insurance is before you have an accident. It really is better to be safe rather than sorry.

What is an Umbrella Liability Insurance Policy?

An umbrella liability insurance policy is additional liability coverage to pay for bodily injuries, damage, legal fees, etc. that are beyond the limits of your PWC liability insurance.

There are cases when the driver at fault can be sued and held responsible even after the insurance coverage is maxed out. In this case, the court may seize your assets to pay awarded damages, including your future earnings.

This is when the umbrella policy comes in. This policy protects your assets against excess costs from damage and legal fees. An umbrella policy picks up the cost beyond what the regular PWC insurance will cover.

Some people would like to have an additional layer of security in case they are sued for damages of other people’s property or injuries. The premium for an umbrella insurance policy may be less expensive if you buy the policy from the same insurer that you bought your PWC insurance from.

How an Independent Insurance Agent Can Help You

In a trusted choice network, you can speak to an independent insurance agent who will help you get a quote for a new policy, a renewal, or additional or umbrella policy. They will offer you PWC insurance policies, professional advice, and personalized service. They can give you coverage from the best insurers of jet skis out there.

An independent agent can even shop for the best rates on your behalf. Go to this website to find the right agent for you.

Insurance is a big choice, and you don’t have to make it on your own. It is better to have help from those who know what they are doing and have experience with insurance. A local agent will know the insurance requirements in your state and can answer all of your questions.

The most important thing an agent can do is help you find the most affordable rates for PWC insurance.

If you have not yet purchased a jet ski, I would recommend speaking to an agent and telling them what your budget is so they can help you find the jet ski that you can afford to insure. It can be hard to know how much a jet ski will cost you at the end of the day, but an agent can help you know the estimated costs. This includes the price of the jet ski along with its insurance.

It is better to know what you are getting into before you make a decision by yourself. Before you choose whether you are going to purchase insurance for your jet ski or not, I would consider the pros and cons of the insurance. Yes, you will have to pay a few hundred dollars a year on it, but just like you have home insurance and car insurance, your jet ski is something of great value to you.

Ashlee Swartbooi

Hey, I am living in Eastern Idaho and I love the outdoors! I am studying Marriage and Family Studies at Brigham Young University- Idaho and I love to learn new things.

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