In this article we will know about the Best Jet Ski Insurance in 2022
Jet ski insurance, also known as personal watercraft (PWC) insurance, will help you avoid the high costs associated with damage caused by storms, unanticipated accidents, fires, and even traveling. It protects you. Auto insurance protects your vehicle with various coverages and protections dependent on your policy.
Jet ski insurance coverage, like home, auto, and other types of insurance, come in a variety of shapes and sizes, and selecting the correct 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 sort of policy is most suited for your PWC use. Basic liability insurance, which protects you against unintentional physical damage and personal injury, is included in a good policy.
It’s also a good idea to think about a coverage that will protect you against other potentially dangerous or financially costly situations, such as fuel spills or natural catastrophes.
Continue reading to find the best jet ski insurance provider for your requirements.
The Best Jet Ski Insurance in 2022
- Best Overall: Ski Safe
- Best for Bundling: Nationwide
- Best for Policyholder Benefits: Allstate
- Best for Multiple Jet Ski Coverage: Progressive
- Best for Custom Coverage: Markel
- Best for Commercial Use: Global Marine Insurance Agency
Ski Safe
Ski Safe provides comprehensive jet ski insurance for as little as $85 per year and provides consumers with a variety of discounts, benefits, and customization choices in order to give inexpensive and dependable coverage.
SkiSafe, unlike many of the other companies we researched and listed on this list, is solely focused on providing insurance for jet ski, boat, and other PWC owners. They have over 500,000 insured consumers and some of the industry’s lowest premiums. They also provide a variety of policies, discounts, and customization choices, making them the ideal all-around insurance provider for jet ski owners.
Customers of Ski Safe can select from four distinct 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 harm, medical costs, towing, fuel spills, and roadside help, depending on the package you select.
Ski Safe also provides discounts for purchasing online, taking a boating safety course, and, if you don’t use your jet ski all year, one for the winter lay-up time.
Ski Safe has an A+ rating from A.M. Best, and its clients are typically pleased with their coverage and overall experience with this company. An easy-to-use web portal and tools that make it simple to pay your account and check policy documents enhance the customer experience even further.
Pros
- Options for flexible protection
- Cheap premiums
- Multiple reductions
Cons
- Limited discounts
- High deductible under some circumstance
- Some quotes not available online
Nationwide
Nationwide, a long-time pioneer in low-cost insurance products, makes it simple to save money by bundling your jet ski insurance with any existing or prospective auto, home, or life insurance policy.
Nationwide is a perennial favorite when it comes to insurance policy bundles. This is because many consumers find this service to be the most cost-effective when bundling various plans, such as home and auto insurance. Fortunately, same reductions and cheap prices apply to Nationwide’s PWC insurance as well, making them our top pick for bundling.
Nationwide normally offers affordable premiums, starting as $100, and despite deductibles range from $250 to $5,000, over 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 presently does not provide as many discounts as some of its competitors. Customers who finish a personal watercraft safety course will earn an extra discount. Nonetheless, their multi-policy rate keeps their pricing competitive in comparison to other top providers.
A.M. Best awarded Nationwide an A+ rating for its flexible PWC insurance, which include bodily injury liability, property damage liability, protection from uninsured and underinsured motorists, accident and damage payments, medical payments, and on-water boat towing and labor.
They also provide complete coverage to safeguard your investment in the event of a fire, theft, or disaster. As an extra bonus, their coverage has no actual geographical limitations, making it an excellent solution for jet ski owners who aren’t tied to a specific place.
Pros
- Several insurance options are available for easy bundling.
- Rates for multi-policy clients are extremely competitive.
- Deductibles are disappearing.
Cons
- Availability differs from state to state.
- Only a few discount packages available
- The highest value that can be covered is $27,000.
Allstate
Allstate customers have the opportunity to take advantage of discounts that can help them save money on their jet ski insurance, as well as other Allstate policies and purchases made with partner merchants of Allstate.
It should come as no surprise that Allstate’s advantages go above and beyond what one would anticipate from a well-known insurance provider, given that the company’s slogan claims that “you’re in excellent hands.” Allstate is the best option for policyholder benefits since they provide customers with a comprehensive collection of discounts and services both within and outside of their organization. Furthermore, their rates start as low as $20 per month, making them the most affordable option.
The advantages begin with substantial price reductions, which are determined by one’s eligibility based on a variety of criteria. Customers who have Allstate insurance can get lower premiums by qualifying for discounts such as those for multiple policies (up to 20% off), full payment (ten percent), homeownership (ten percent), and watercraft education courses (five percent). When you join up for their convenient autopay service, they you a savings of a hefty 6%.
Customers of Allstate can also receive discounts and other perks when they shop with partner companies of Allstate, such as Intuit, HomeAdvisor, Kiddie, PODS, Budget Rental, Auto Zone, Valvoline, SiriusXM, and Avis.
Coverage for property damage, repairs, emergency services, and protection against uninsured watercraft are all part of the package when you purchase a boat or personal watercraft insurance policy from Allstate. These policies provide protection in the event that your watercraft sustains damage, any resulting medical payments, and protection against watercraft liability. There is also an optional coverage called Agreed Upon Value that can be purchased from Allstate. This coverage allows you to recuperate the full amount (the value at the time of purchase) of your jet ski, regardless of how much it is worth on the market at the time of a claim.
Pros
- Multiple opportunities for policy discounts
- Deals with partner merchants
- Competitive rates
Cons
- No online quote available
- Coverage and offers vary by state
Progressive
If you want to insure more than one jet ski or other personal watercraft (PWC), Progressive makes it easy to save money by offering multi-unit savings in addition to multi-policy discounts.
Progressive is one of the most well-known insurance firms in the United States. They have been in business since 1937, and they provide a broad variety of comprehensive insurance policies to cover many different kinds of property, such as boats and personal watercraft.
Customers who purchase coverage for several boats, jet skis, or other types of personal watercraft from Progressive are eligible for discounts on their insurance premiums. Because of this, anyone who wishes to insure more than one jet ski should strongly consider using their services.
If you are only interested in the most fundamental protection, you can insure one or more jet skis for for one hundred dollars per month. You will receive liability insurance as well as protection against boaters who do not have insurance if you sign up for their Basic plan. You have the option of expanding your coverage by enrolling in either the Choice or the Plus plan offered by Progressive. Both plans include coverage for medical costs, comprehensive insurance, and loss due to a totaled vehicle.
When you insure multiple jet skis under the same policy, you can lower your overall premiums and get a more comprehensive coverage plan. On the other hand, those particular reductions aren’t the only ones available to you. In addition, Progressive offers discounts to policyholders who bundle multiple policies with the business, are the original owner of the personal watercraft (PWC), have a driver’s record free of moving violations, or transfer coverage from another provider. Members of the United States Coast Guard Auxiliary, the United States Automobile Association (USAA), and the United States Power Squadron (USPS) are eligible for additional savings.
Customers of Progressive should anticipate deductibles ranging from $500 to $5,000, with jet ski coverage that can go as high as $27,000. However, it is important to keep in mind that the coverage maximums may shift depending on where you are located geographically. Customers who live in zip codes that are more likely to be affected by hurricanes, for instance, may have lower maximums.
Progressive has been given an excellent A+ rating by A.M. Best and is commonly chosen as the best option by owners of boats and other watercraft, despite the fact that the company has received some bad customer feedback.
Pros
- Multi-watercraft discount
- Bundling discounts
- Policies up to $500,000
Cons
- Potentially higher deductibles
- Less customizable
- Coverage maximums are lower in certain locations
Markel
Markel is an industry leader in developing one-of-a-kind insurance products that enable customers the flexibility to participate in any activity of their choosing.
There are several insurance companies that do not cover watersports, however Markel is not one of such companies. Because, in contrast to other providers, Markel coverage gives you the ability to personalize policy coverage, this company is an excellent option for anyone seeking for insurance to accommodate those activities or requirements.
Markel is an insurance firm that specializes in providing protection for certain specific types of businesses and activities, such as personal watercraft, motorbikes, off-roading, and even horse ownership. PWC coverage offered by Markel comprises the following:
- Damage to the property, with options for both the actual cash value (ACV) and the agreed value.
- Damage that is not directly caused by the wear and tear that has occurred, such as damage caused by fires, collisions, or being stranded.
- If you hired a winterization service but your jet ski was still damaged, the damage was likely caused by ice and freezing temperatures.
You will also be protected against watercraft liability, essential medical payments, uninsured boaters, and emergency towing and assistance if you have a coverage with Markel for your personal watercraft. You’ll also have the ability to tailor your policy to include coverage for things like trailers, lifts, and even trips, if you so want.
In the same vein as other suppliers of PWC insurance, Markel provides its customers with a selection of discounts, including as a multi-unit discount, an experienced boater discount, and a mature operator discount for customers who are at least 40 years old. In addition, there is a diminishing deductible, which means that your deductible will decrease by 25% annually, and after the fourth year of coverage, you will have the possibility to have a deductible that is equal to $0.
Pros
- Flexible
- Diminishing deductible
Cons
- Hard to get a quote online
- No option to bundle with home or life insurance
Global Marine Insurance Agency
Many insurance policies won’t cover the business usage of jet skis, but Global Marine Insurance has a policy built that can cater to the entrepreneurial-minded.
The insurance policies that were explained before are designed specifically for jet skis that are used for personal purposes. However, what happens if you intend to rent out your jet ski or other personal watercraft (PWC)? Many standard policies won’t cover business use, so if you’re considering renting out jet skis, you’ll need to hunt for a commercial insurance provider. Global Marine Insurance offers a comprehensive jet ski rental policy, making it our choice for the finest business use provider.
A basic Global Marine insurance policy will cover extraneous charges linked with medical bills or staff carelessness, equipment replacement costs due to client negligence, and equipment replacement fees in the event of catastrophic storms or flooding.
There are a variety of jet ski insurance add-ons and extended policies that can be purchased through Global Marine insurance. This includes marina coverage, which protects against damages during storage or winterizing, dealership coverage, which protects your investment while hauling, anchoring, and servicing, and marina operators’ legal liability, which eliminates liability in the event that a PWC or boat is damaged while in your care or control.
You aren’t taking a commercial use policy into consideration, are you? In addition, Global Marine Insurance Agency provides individual jet ski insurance policies at rates that are among the most affordable in the industry.
Pros
- Easy online quote application
- Flexible coverage options to fit your needs
- Competitive pricing
Cons
- Not valid in the state of Florida
- Minimum of five PWCs required
Summery
If you shop around and find the correct policy and provider, having jet ski insurance could help you save a significant amount of money over the course of your ownership of the watercraft. The aforementioned insurance companies give customers with a variety of products that can be tailored to their specific needs and come at reasonable prices. Which of these options is best for you? That is dependent on a variety of aspects, such as your financial situation, the level of protection you want or desire, and the discounts to which you are entitled.
There are situations in which purchasing an additional insurance policy in addition to your current vehicle or home coverage might help you save money. This is especially true with insurance providers such as Nationwide, Progressive, and Allstate, which all provide multi-policy discounts. If you do not wish to combine your policies, a specialized insurance company such as Markel, Ski Safe, or the Global Marine Insurance Agency may be able to give you with better prices or coverage that is more specifically tailored to your needs. Before making a decision, it is in your best interest to obtain a free estimate from each service provider and then examine the differences in their rates, levels of coverage, and other perks.
