Best Jet Ski Insurance

Insurance for jet skis, often categorized as personal watercraft (PWC) insurance, serves as a safeguard against the substantial costs associated with damage from storms, unforeseen accidents, fires, and even during transit. Much like auto insurance for your car, it offers various coverages and protections tailored to your policy.

Similar to home or auto insurance, jet ski insurance policies vary in their offerings, making finding the right one a daunting task. Essential considerations include determining the desired coverage level—some states mandate liability coverage—assessing affordability, and selecting the most appropriate coverage for your PWC usage. A comprehensive policy typically encompasses basic liability coverage, shielding you from accidental physical damage and bodily injury.

Moreover, opting for coverage that extends to potential risks such as fuel spills or natural calamities is prudent, mitigating potential financial burdens.

Explore further to identify the optimal jet ski insurance provider to suit your requirements.

The Best Jet Ski Insurance in 2024

 

 

BEST OVERALLSki Safe


Why We Chose It

Ski Safe offers comprehensive jet ski insurance for as little as $85 a year and offers customers a number of discounts, benefits, and customization options to provide affordable and reliable coverage.

Pros & Cons

Pros

  • Flexible coverage options
  • Low premiums
  • Multiple discounts

Cons

  • Limited discounts
  • High deductible under some circumstance
  • Some quotes not available online
Overview

Unlike many of the other providers we reviewed and included in this list, SkiSafe is dedicated to one thing: providing insurance for jet ski, boat, and other PWC owners. It has over 500,000 insured customers and offers some of the lowest premiums in the industry. It also has several policies, discounts, and customization options that make it the best overall insurance provider for jet ski owners.

Ski Safe customers can choose between four different packages: Liability Only, Basic Package, Premium Package, and build-your-own package. Limited liability coverage costs as little as $85 a year, but if you want to add additional coverage, packages start at $203 a year. Depending on which package you choose, coverage can include physical damage, bodily injury, medical payments, towing, fuel spills, and roadside assistance.

Ski Safe also offers a few discounts, including ones for purchasing online, completing a boating safety course, and, if you don’t use your jet ski year-round, one for the winter lay-up period.

Ski Safe has an A+ A.M. Best rating, and its customers are generally happy with their coverage and overall experience with this provider. The customer experience is further improved by an easy-to-access online portal and resources that make it easy to pay your bill and review policy documents.

 

BEST FOR BUNDLINGNationwide


Why We Chose It

Long known as a leader in affordable insurance products, Nationwide makes it easy to save money by bundling your jet ski insurance with any existing or future auto, home, or life insurance policies.

Pros & Cons

Pros

  • Multiple insurance products for easy bundling
  • Highly competitive rates for multi-policy customers
  • Vanishing deductibles

Cons

  • Availability varies by state
  • Limited discount programs
  • Maximum coverage value of $27,000

Nationwide consistently stands out as a top choice for bundling insurance policies, offering attractive discounts and competitive rates, especially for combining home, auto, and now, personal watercraft (PWC) insurance. This makes Nationwide our top pick for bundling.

For PWC insurance, Nationwide offers some of the most competitive rates in the market, with premiums starting as low as $100. Deductibles range from $250 to $5,000, with the majority of policyholders opting for deductibles between $250 and $500. Additionally, Nationwide provides a deductible reduction of up to $500 over time for accident-free years.

While Nationwide may not offer as many discounts as some competitors, its multi-policy rates maintain competitiveness. PWC customers can qualify for an extra discount upon completing a personal watercraft safety course.

Nationwide’s PWC policies are flexible and comprehensive, covering bodily injury liability, property damage liability, protection against uninsured and underinsured motorists, collision and damage payments, medical payments, and on-water boat towing and labor. Comprehensive coverage safeguards against fires, theft, or storms, with no geographical restrictions, making it suitable for jet ski owners who frequently change locations.

Rated A+ by A.M. Best, Nationwide’s reputation for reliability adds further assurance to its insurance offerings.

BEST FOR POLICYHOLDER BENEFITSAllstate


Why We Chose It

Allstate policyholders can take advantage of discounts that help them save on their jet ski insurance, other Allstate policies, and purchases with Allstate’s partner merchants.

Pros & Cons

Pros

  • Multiple opportunities for policy discounts
  • Deals with partner merchants
  • Competitive rates

Cons

  • No online quote available
  • Coverage and offers vary by state
Overview

Allstate, known for its reassuring slogan “you’re in good hands,” exceeds expectations as an insurance provider by offering an array of benefits that go above and beyond. With monthly rates as affordable as $25, it stands out as the top choice for policyholder perks.

The advantages begin with a range of discounts based on various eligibility criteria. Allstate policyholders can enjoy reduced rates through multi-policy discounts (up to 20%), full-pay discounts (10%), homeownership discounts (10%), and boat education course discounts (5%). Additionally, signing up for autopay earns a generous 6% discount.

Beyond direct discounts, Allstate offers access to benefits through its partner organizations such as Intuit, HomeAdvisor, Kidde, PODS, Budget Rental, Auto Zone, Valvoline, SiriusXM, and Avis.

With an Allstate boat or PWC insurance policy, coverage encompasses damage to your watercraft, medical payments resulting from incidents, watercraft liability protection, property damage coverage, repair expenses, emergency services, and protection against uninsured watercraft. Allstate also provides an optional Agreed Upon Value coverage, ensuring you receive the full purchase price of your jet ski regardless of its market value at the time of a claim.

 

BEST FOR MULTIPLE JET SKI COVERAGEProgressive


Why We Chose It

Progressive offers multi-unit discounts alongside multi-policy discounts, making it easy to save if you’re insuring more than one jet ski or other PWCs.

Pros & Cons

Pros

  • Multi-watercraft discount
  • Bundling discounts
  • Policies up to $500,000

Cons

  • Potentially higher deductibles
  • Less customizable
  • Coverage maximums are lower in certain locations
Overview

Progressive, established in 1937, stands as one of the foremost insurance providers in the United States, offering a comprehensive range of insurance policies covering various properties, including boats and personal watercraft.

One of Progressive’s notable features is its discounts for customers insuring multiple boats, jet skis, or other personal watercraft, making it an excellent choice for those seeking coverage for multiple jet skis.

For as low as $100 per month, you can obtain basic coverage for one or more jet skis with the Basic plan, including liability insurance and protection against uninsured boaters. Progressive’s Choice and Plus plans offer expanded coverage options, encompassing medical payments, comprehensive insurance, and totaled vehicle loss coverage.

Progressive rewards policyholders with lower costs when insuring multiple jet skis, along with various other discounts. These discounts extend to bundling other Progressive policies, being the original owner of the PWC, maintaining a clean driving record, or transferring coverage from another provider. Members of the United States Coast Guard Auxiliary, USAA, and United States Power Squadron (USPS) also qualify for additional discounts.

Customers can expect deductibles ranging from $500 to $5,000, with jet ski coverage extending up to $27,000. However, coverage maximums may vary depending on geographic location, with potential adjustments for customers residing in hurricane-prone areas.

Despite occasional negative customer reviews, Progressive maintains an A+ (Superior) rating from A.M. Best and remains a popular choice among boat and watercraft owners.

 

BEST FOR CUSTOM COVERAGEMarkel


Why We Chose It

Markel specializes in unique insurance policies that give you the freedom to engage in the watersports you want to.

Pros & Cons

Pros

  • Flexible
  • Diminishing deductible

Cons

  • Hard to get a quote online
  • No option to bundle with home or life insurance
Overview

Markel stands out in the insurance landscape by offering coverage tailored specifically for watersports enthusiasts—a niche often overlooked by other providers. With Markel, policyholders can customize their coverage to align perfectly with their activities and needs, making it a top choice for those seeking specialized insurance.

As a specialty insurance company, Markel caters to niche markets, including personal watercraft (PWCs), motorcycles, off-roading, and even equine ownership. Their PWC coverage includes:

– Physical damage protection, with options for actual cash value (ACV) and agreed value
– Coverage for consequential damage, such as fires, collisions, or strandings resulting from normal wear and tear
– Protection against ice and freezing damage if winterization services were contracted, but the jet ski still incurred damage

In addition to comprehensive physical damage coverage, a Markel PWC policy provides essential protections like watercraft liability, medical payments, coverage for uninsured boaters, and emergency towing and assistance. Policyholders can further tailor their coverage by adding options such as trailer, lift, and trip coverage.

Markel offers various discounts, including multi-unit discounts, experienced boater discounts, and mature operator discounts for policyholders aged 40 or older. They also feature a diminishing deductible program, reducing the deductible by 25% each year and potentially reaching a $0 deductible after the fourth year of coverage.

With its specialized focus and customizable options, Markel emerges as an ideal choice for watersports enthusiasts seeking comprehensive and tailored insurance coverage for their PWCs.

BEST FOR COMMERCIAL USEGlobal Marine Insurance Agency


Why We Chose It

Many insurance policies won’t cover the commercial use of jet skis, but Global Marine Insurance has a policy that can cater to the entrepreneurially minded.

Pros & Cons

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
Overview

While the discussed insurance policies cater to personal-use jet skis, if you’re venturing into renting out your jet ski or other PWCs, traditional policies may not suffice as they often exclude commercial use. In such cases, seeking coverage from a commercial insurance provider becomes essential. Global Marine Insurance stands out by offering a comprehensive jet ski rental policy, earning our recommendation as the top choice for commercial use.

A basic Global Marine insurance policy for jet ski rentals covers various expenses, including medical expenses, costs related to employee negligence, and equipment replacement expenses due to client negligence or catastrophic events like storms or flooding.

In addition to the basic coverage, Global Marine insurance provides several add-ons and extended policies tailored for jet ski rental businesses. These include dealership coverage, safeguarding your investment during transportation, anchoring, and servicing; marina coverage, protecting against damages incurred during storage or winterizing; and marina operators’ legal liability, which absolves liability in cases where a PWC or boat is damaged while under your care or control.

For those not requiring commercial use coverage, Global Marine Insurance Agency also offers competitively priced personal jet ski policies.

 

Final Verdict

Jet ski insurance can indeed be a wise investment, but finding the right policy and provider is key to maximizing savings in the long term. The insurance providers mentioned offer a variety of competitively priced and customizable policies. However, determining which is right for you depends on several factors, such as your budget, desired coverage level, and eligibility for discounts.

If you’re considering bundling your jet ski insurance with your existing home or auto coverage, companies like Nationwide, Progressive, and Allstate are excellent options, as they offer attractive multi-policy discounts. On the other hand, if you prefer not to bundle, specialty insurance providers like Markel, Ski Safe, or Global Marine may offer better rates or more tailored coverage to suit your needs.

To make an informed decision, it’s advisable to request free quotes from each provider and compare prices, coverage options, and additional benefits. By doing so, you can identify the most suitable insurance policy that offers the right balance of affordability, coverage, and benefits for your specific situation.

 

Compare the Best Jet Ski Insurance

Company Annual Premium Policy Options Other Available Insurance
Ski SafeBest Overall Starting at $85 Towing & roadside assistance, agreed value, fire, theft, collision, bodily injury & property damage, medical payments, personal property, cost of defense, hurricane haul-out, fuel spill, and more Boat
NationwideBest for Bundling Starting at $100 Liability, collision, comprehensive coverage, bodily injury liability, Uninsured/underinsured motorist, collision, on-water boat towing and labor, medical payments, and more Home, auto, renters, condo, motorcycle, pet, business, life, travel, ATV, scooter, snowmobile, classic car, RV, boat, umbrella, identity theft, and more
AllstateBest for Policyholder Benefits Staring at $25/month Watercraft medical payments, watercraft liability coverage, property coverage, repair cost, emergency services, uninsured watercraft coverage, agreed value option, personal effect coverage, additional boat equipment, boat trailer coverage, and more Auto, home, renters, condo, motorcycle, business, life, roadside, identity theft, and more
ProgressiveBest for Multiple Jet Ski Coverage Starting at $100 Standard jet ski insurance (e.g., full replacement costs, bodily injury & property liability, etc.), total loss replacement, on-water towing, fishing equipment or carry-on items, mechanical breakdown coverage, comprehensive and collision, uninsured/underinsured boater, medical payments, trailer trip interruption, and more Home, auto, renters, condo, motorcycle, RV/trailer, flood, mobile home, dental, health, life, pet, travel, umbrella, vision, wedding & event, boat, and more
MarkelBest for Watersports Starting at $100/year Physical damage, consequential damage, ice and freezing damage, watercraft liability, medical payments, uninsured boater, emergency towing and assistance, and more Boat, motorcycle, off-road vehicle, horse and farm, wedding, classic car
Global Marine Insurance AgencyBest for Commercial Use Contact for Quote Commercial watercraft insurance, dealership coverage, marina coverage, marina operators legal liability, protection and indemnity, crime coverage, and more Personal watercraft, yacht, mega yacht, boat, sailboat, watersport

 

What Is Jet Ski Insurance?

Jet Ski insurance, often categorized as personal watercraft (PWC) insurance, safeguards both you and your jet ski against various incidents such as collisions, storm-related damage, liability claims, vandalism, and fuel spills. Typically falling under the broader category of PWC insurance, it covers all personal watercraft, including small boats.

How Much Does It Cost to Insure a Jet Ski?

The cost of insuring a jet ski can vary depending on several factors. These include the age, make, model, and condition of your jet ski, your personal driving record, your experience with jet skis, and your geographical location. Additionally, the type of coverage you choose plays a significant role. While liability coverage may cost around $85 to $100 annually, more comprehensive coverage can exceed $500 per year.

Do You Need Insurance to Own a Jet Ski?

While there are no federal or state laws mandating jet ski insurance, it’s highly recommended to have coverage to safeguard against accidents or damage. The protection provided often outweighs the premium paid, covering expenses such as accident-related medical bills, towing and emergency services, fuel spills, and certain personal property items covered by the policy.

Is Jet Ski Insurance Worth It?

Investing in jet ski insurance can be considered worthwhile, similar to auto insurance. While it entails monthly or annual premiums, it offers coverage in various scenarios based on the chosen policy. While it may seem like an additional expense initially, it helps mitigate potential costly bills in the future by protecting both your personal watercraft and associated expenses.

Methodology

In determining the best jet ski insurance providers, we conducted research on 16 different PWC insurance companies. We evaluated each based on factors such as policy price, coverage options, available discounts, policyholder benefits, and customer service ratings. Our methodology involved identifying providers offering comprehensive and customizable coverage options at competitive prices. We also considered additional benefits like policy bundling, discounts, and coverage for different usage types to determine the best options for policyholders.

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