You probably already know this but...
You normally need additional third party insurance for toys beyond what would cover you for skis and wakeboard.
Toys can be dangerous because drivers go too fast and get too close to obsticals (buoys, pontoons other boats etc.).
Boats is heading towards a fixed object, boat turns to avoid object, toy and passenger are hurled into the object like a slingshot.
If you keep away from danger they are great fun