Personal watercraft such as boats, jet skis, and wave runners need their own insurance policy. The size, type, and value of the craft and the water in which you use it factor into how much you will pay for insurance coverage.

Boat insurance usually covers:

Bodily injury liability — for injuries caused to another person
Property damage liability — for damage caused to someone else’s property
Guest passenger liability — for legal expenses incurred by someone using the boat with the owner’s permission
Medical payments—for injuries to the boat owner and other passengers
Theft
Physical loss or damage. This coverage includes the hull, machinery, fittings, furnishings and permanently attached equipment.

Boaters should also cover any special equipment kept on the boat, such as fishing gear. Towing coverage should also be included in the policy.