Personal Watercraft Coverage - Made Simple

LIABILITY COVERAGE-The liability coverage pays for bodily injury to other people or damage to their property, if you are liable. The coverage is broken into three segments. It is represented as 20/40/15. In this example, the coverage will pay $20,000 if one person is hurt, $40,000 if  more than one person is hurt and $15,000 in property you have damaged. Property damage can be other vehicles, buildings, or any other type of structure. 

UNINSURED/UNDERINSURED MOTORIST- Pays for bodily injury in the event the other party doesn't have insurance or doesn't have enough insurance. On personal watercraft policies, no coverage is available for uninsured motorist property damage. This coverage is very similar to the liability coverage except this pays for your injuries if the other party has no insurance or doesn't have enough insurance.

MEDICAL COVERAGE- Medical coverage pays for injury to a person in the boat, riding a personal watercraft or water skiing. No Deductible applies.

OTC OTHER THAN COLLISION-Sometimes referred to as comprehensive coverage, pays for any loss to your watercraft other than a collision. If you watercraft is stolen, damage by hail or a tree falls on your watercraft, this coverage would pay for the Actual Cash Value of your watercraft less the deductible. 

COLLISION- Covers accidental damage  to your watercraft by collision with any object or by upset. This coverage is used when you have an accident to repair or replace your watercraft when you are at fault. There is a deductible and the policy pays the Actual Cash Value of the watercraft. 

PERSONAL EFFECTS- Pays up to specified Replacement Cost limits for loss of, or damage to, the insured's boat contents that are normally used in conjunction with the boat. The limit to all fishing gear is $300. There is a $100 deductible for theft. The coverage is available in $0, $1,000, $2,000, $3,000, $4,000 and $5,000 increments. Include value of all unattached equipment used in the operation or maintenance of the watercraft. Examples of unattached equipment would include: anchors, ors, deck chairs, etc. Maximum value allowed is $5,000.

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