Jet Ski, WaveRunner
& Sea-Doo Insurance

A comprehensive jet ski insurance policy typically covers accidental damage to your craft, theft, fire, storm damage, and third-party liability. Third-party liability protects you if your jet ski damages another vessel or injures another person on the water. Most policies also offer optional cover for your trailer and accessories such as GPS units, wetsuits, and ski ropes. Policy wording varies between insurers, so it is important to read the product disclosure statement carefully before purchasing.

Jet ski insurance is not legally mandatory in New Zealand. However, given the potential for significant third-party damage or injury on the water, operating a jet ski without at least third-party liability cover carries considerable financial risk. Some boat ramps, marinas, and waterway authorities may require proof of third-party liability insurance before allowing access, so it is worth checking local rules for the waterways you use most frequently.

Several factors influence your jet ski insurance premium. The age, make, model, and value of your craft play a significant role, as do the level of cover you choose (comprehensive vs third-party only), the excess you select, and the geographic area where you plan to use it. Your experience on the water, claims history, and the security arrangements for your craft when not in use can also affect pricing. High-performance models and craft used in rougher coastal conditions typically attract higher premiums than recreational sit-down models used on calm lakes.

Agreed value means you and the insurer agree on the value of your jet ski at the start of the policy. If the craft is written off or stolen, you receive that agreed amount regardless of depreciation. Market value means the insurer pays what the craft was worth on the open market at the time of the claim, which takes depreciation into account and can be significantly less than the purchase price. Agreed value cover costs a little more but provides certainty, making it the better choice for newer or high-value craft.

Yes, used and second-hand jet skis are readily insurable. Most insurers will assess the craft's age, condition, and current market value when setting the sum insured. For older craft, market value policies are common since agreed value may be difficult to obtain if the insurer cannot confirm the craft's condition. It is worth having an independent valuation or a condition report if you are insuring an older or modified craft, as this can support a higher agreed value if you believe the craft is worth more than standard depreciation tables suggest.

Standard jet ski policies are designed for motorised personal watercraft, so they may not automatically cover a wave ski, which is a human-powered paddle craft used in surf. If you own both a motorised jet ski and a non-motorised wave ski, you will likely need separate policies or an endorsement for the wave ski. A specialist marine broker can help you understand which policies cover non-motorised surf craft and can source a combined or standalone policy that works for your situation.