As Australians are aware, one of the best aspects of living in Australia is jet skiing. Every year, thousands of families and individuals engage in marathons and go to several resorts just so they can go on an adventure of a lifetime.
However, as fun, exciting and exhilarating the sport is, it is equally important to take safety precautions. Furthermore, when family is involved, safety should be number one priority.
While planning their family adventure, most individuals forget about safety measures. While knowing CPR is important, it is equally important to make sure, in case of an emergency, you are financially secure. This can be done through jet ski insurance.
Jet ski insurance protects individuals and families in case there is damage and loss.
What Does it Cover?
While jet ski insurance does not cover medical expenses, it does provide other valuable policies and regulations. In case your equipment or jet ski gets stolen or vandalised, you can get coverage for it.
Jet ski insurance is also a type of boat insurance so you can expect coverage in case you face financial loss due to an injury at sea.
Furthermore, there are three main policies that are covered in jet ski insurance:
Third Party Property Only: If you have caused accidental damage to another person’s jet ski, your insurance will cover the costs; you will not be required to pay from your own pockets.
Third Party Fire and Theft: In case someone has lent their jet ski to you and it gets stolen or fire damaged, your insurance policy will cover for the losses.
Comprehensive: Comprehensive insurance provides coverage for damage done to someone else’s property via your jet ski. There is more to this type of insurance than just this policy, such as:
- Accidental damage to your jet ski caused via a fire
- Theft of your jet ski or equipment
- Damage caused to third party vessels because of you
- Accidental damage caused via a collision. This also provides coverage for your jet ski.
Damage Due to Weather Conditions: This is a part of boat insurance but if your jet ski is damaged due to a storm or a flood, your insurance policy will provide coverage for the damages incurred.
It is important to discuss your premium policies with your insurance provider before updating or purchasing insurance. Some providers do not provide full coverage. Therefore, it is essential to negotiate.