The mechanics of impact by a high-speed liquid jet onto a solid surface covered by a liquid layer is described. After the liquid jet contacts the liquid layer, a shock wave is generated, which moves toward the solid surface. The shock wave is followed by the liquid jet penetrating through the layer. The influence of the liquid layer on the side jetting and stress waves is studied. Damage sites on soda-lime glass, PMMA (polymethylmethacrylate) and aluminium show the role of shear failure and cracking and provide evidence for analyzing the impact pressure on the wetted solids and the spatial pressure distribution. The liquid layer reduces the high edge impact pressures, which occur on dry targets. On wetted targets, the pressure is distributed more uniformly. Despite the cushioning effect of liquid layers, in some cases, a liquid can enhance material damage during impact due to penetration and stressing of surface cracks.