Non-Owned Watercraft

means:

1. a watercraft 26 feet or less in overall length;
2. its motor; and
3. its tailer used:
1. by you or a family member;
2. without charge;
3. only for private pleasure; and
4. with its owner's permission.

However, it does not include a watercraft:

1. owned by you or a family member; or
2. furnished for the regular use of you or a family member