Boat insurance is typically available for any watercraft, including jet skis. Whether you need it depends on the law and how much you’re willing to pay out of pocket in case there’s an accident. There are a few things to consider when deciding if you want boat insurance on your jet ski.
Legal Requirements
Oklahoma does not legally require that any boat or watercraft have insurance. Lenders may require comprehensive and collision insurance if you finance a watercraft. This is typically included in the financing agreement, and they can repossess the watercraft if your insurance lapses. Many marinas require liability insurance to park a watercraft there. Always double-check with marinas to ensure you meet their requirements. They can hold you liable if there’s a problem and you don’t meet the legal requirements to park your jet ski there.
Do You Need Insurance?
While it’s not legally required, boat insurance from a company like Insurance Source Solutions on your jet ski is still an excellent idea. A simple accident without insurance can cost you thousands, wiping out your savings and forcing you to make payments on a settlement for years. Medical bills for bodily injury can cost hundreds of thousands of dollars. A care flight alone can cost up to $80,000. Most people don’t have that much in savings.
Here at Insurance Source Solutions, we understand the importance of protecting yourself without paying for unnecessary coverage. Instead of trying to sell you everything we have, we’ll work with you to understand your needs and find a plan that meets them. Contact us today to learn more. We currently serve the Oklahoma area.
