Do You Need Insurance for a Seadoo in Ontario?
Is the thought of taking to the water, skimming waves, and feeling the wind’s relief amidst the summer heat something that excites you? This is how many personal watercraft owners feel, and rightly so. That said, when considering purchasing a personal watercraft like this, do Seadoos need insurance, or is it simply a nice-to-have?
Today, let’s explore if you need insurance for Seadoos, Kawasaki or Yamaha jet skis in more detail. We’ll highlight the importance and general best practices, as well as issues that could arise that justify having an active policy.
Seadoo Insurance Fundamentals
To start, let’s answer some commonly asked questions about insurance for Seadoos, Kawasaki or Yamaha jet ski:
Is Seadoo Insurance Required in Ontario?
For Seadoos, Kawasaki and Yamaha watercrafts registered in the province of Ontario, boating insurance is not required by law. However, if you choose not to have an active insurance policy for your vessel, you leave yourself vulnerable to considerable financial stress if an accident, breakdown, or other related mishap occurs. This is especially risky if you cause an accident with another boater and don’t have liability coverage, which would result in you being entirely responsible for damages out of your own pocket.
What Should a Seadoo Insurance Plan Cover?
Depending on the insurance provider you choose, you may be able to select either a fully customizable package – an option that provides added value that ensures you have the policy elements that you need – or one of several pre-set alternatives. Regardless of your choice, there are three components that you should ensure are included. These include the following:
Theft and Agreed Value
Theft and agreed value protection, covers you in the event of theft of the vessel or even personal items stored onboard. The agreed value element, as the term implies, ensures that the value of your Seadoos, Kawasaki and Yamaha will not depreciate. We at Portside Marine Insurance offer agreed value coverage for 15 years.
Ingestion and Damage
Seadoos, Kawasaki and Yamaha watercrafts require regular maintenance to remain efficient and handled correctly. However, due to their general design that relies on water pressure to move, there’s a risk of ingesting debris that could clog the jet propulsion system. Ingestion and damage coverage can take care of expenses related to repairs. This coverage also provides reimbursement for damages sustained in an accident, and we ensure that you don’t need to worry about betterment fees for new parts.
Nobody wants to be stranded out on a lake or river in a Seadoo of all things, fully exposed to the elements. If you run into a mechanical mishap or require towing, your coverage can provide reimbursement for the required services. This is an important policy element to have, as it ensures that you don’t need to get additional coverage somewhere else for towing or recovery.
What’s the Cost of Insuring a Seadoo?
When insuring a Seadoo, Kawasaki or Yamaha jet ski in Ontario, the approximate cost will depend on several factors. Chief among them is your own background. If you are a high-risk boater with a history of several insurance claims and a bad record, for instance, then the rate will be much higher. Other factors include the condition of your vessel and its manufacturing year.
What Does an Insurer Need to Know About My Seadoo?
Should you decide to insure your Seadoos, Kawasaki and Yamaha, there are several important factors that need to be given to the provider. These include the length, vessel type, approximate value, intended use case and the frequency of said use, your boating experience, the condition of the vessel, and more. You also need to factor in whether you will have coverage active for when the Seadoo, Kawasaki or Yamaha watercraft is being stored at home or transported on the road.
Tips on Getting the Right Seadoo Insurance for Your Needs
Next, let’s explore some precautionary steps you should take when shopping around for Seadoo insurance. These include the following:
End-to-End Coverage is Important
Are you only planning on taking your Seadoo, Kawasaki or Yamaha jet ski out for the occasional spin on a hot summer’s day or two each year? Or are you planning on spending every weekend up in cottage country out on local waterways and lakes? Regardless, ensure that you are covered from end to end, including when transporting your Seadoo, Kawasaki or Yamaha jet ski from the home to the lake.
Will You be the Only One Onboard?
Even if you are the one who always sits in the driver’s seat, Seadoo insurance can protect the passenger riding in the back as well. For example, if a passenger is injured and wishes to seek damages, your policy’s liability coverage will kick in. As a general best practice, it makes more sense to have peace of mind for everyone on the water, helping you focus on navigating safely and having a great time!
What’s Covered, and What Isn’t?
Do your homework when shopping around. If an insurance provider recommends you something without towing, recovery, agreed value, ingestion, or damage coverage, it’s best to keep looking and gauge your options. Even if the price is tantalizingly low, not having sufficient coverage can cost you a whole lot more in the long run. Save yourself the stress and financial strain.
Read Up on the Provider’s Instructions for Submitting a Claim
Even if you find a great option, submitting a claim is a whole different process. Providers will have their own specific sets of requirements, so it’s better to brush up on these in advance. This way, you’ll know what to do when or if you run into trouble. Our own submission guidelines can be found here.
In conclusion, while Seadoo insurance isn’t technically required, we know from experience that it is essential for boaters of all backgrounds and levels of expertise. To learn more about our policy options or to discuss your coverage needs, reach out to us or request a quote today. We’re happy to assist!