The 17-year-old said he and three friends, who all study in Singapore but live in China, felt at risk as they haggled with the jet-ski operators for three-and-a-half hours.
The student, who prefers to remain anonymous, complained to the Chinese vice-consul and to Phuketwan when the jet-ski operators at first demanded 100,000 baht in compensation.
Eventually, after lengthy haggling, a total of 47,000 baht was agreed upon. That figure included the hiring fee.
''We felt threatened the whole time,'' Zhao said. ''We didn't think it was a fair price at the start and we only agreed to 47,000 baht in the end because we'd had enough.''
Incidents with the potential to end in violence continue to occur on Patong beach because the existing insurance for jet-skis only covers the first 50,000 baht in damage.
Zhao told Phuketwan that he and his friends hired two jet-skis from a point on the beach near the Absolute Sea Pearl Beach Resort and Spa, towards the southern end.
''We had been out for 10 minutes when we tried to travel alongside each other,'' he said. ''That's when we crashed.''
Back on the beach, the jet-ski operators demanded 100,000 baht and the haggling began. Voices tend to be raised and angry gestures are usually a regular occurrence.
China Vice-Consul Qin Jian, who is based off Phuket in Songkhla province, said it was better for arguments about damage to continue at Patong's Kathu Police Station, where threats were less likely to be made.
The young student said it was his first visit to Phuket, ''and it could be the last time.''
Honorary consuls based on Phuket have made the point that the present limited insurance scheme should be made comprehensive to fully protect tourists from having to pay out huge sums of money.
This could best be done by increasing the cost of hiring a jet-ski, the honorary consuls have said.
The students, who arrived on Phuket at the weekend, return to Singapore on Thursday.
A student from Singapore died after being struck when his jet-ski collided with a jet-ski being ridden by a friend off Patong in May, 2010.
The Singapore students in 2010 and again yesterday said they were never properly briefed on the dangers of riding jet-skis.