What it is?
A personal watercraft (PWC) is something that people use on the water for fun and enjoyment. It is not considered to be a boat, but something that still needs to be insured. A PWC insurance policy is an insurance product designed to cover the damages to the PWC and cover any liability issues that may come up because of an at-fault accident.
Who it is for?
The PWC policy is for anyone that owns a PWC. Some of the most popular kinds of PWCs is the Sea-Doo, WaveRunner, and other major brands. All of them should be insured because of the value of the PWC and the possibility of a liability lawsuit.
How it works
If you are in an accident and are found to be at-fault, then your insurance policy will pay for all the damage to the other person’s personal property and medical expenses. If your PWC is damaged by a covered peril, then you will find that the insurance company will pay to have it replaced or fixed.
Different types of coverage in existence
There are three aspects of the PWC policy that make up the foundation of the policy.
1. The first part of the policy is the bodily injury part. This coverage will pay for any injuries that another person my sustain in the event of an accident where you are found to be at-fault.
2. The property damage section is part of the policy that fixes your PWC. Whether you are the one at-fault or the PWC is damaged by a covered peril, this coverage will pay for the damages.
3. The medical payment is a part of the policy that pays for the medical bills should a person be hurt in the accident.
There are other additions that you can make or add to the policy to make it fit your scenario. Some people like to add equipment to their PWC and end up having to add an endorsement that will cover the addons to the PWC.
• You will have the peace of mind knowing that you are protected from financial stress.
• You will also benefit from this policy by being able to fix your PWC if it is damaged in some way.
• You will be in compliance with local insurance laws.