Burned about two weeks shopping for coverage for our boat before the season. Lesson one: a low premium often means a pile of exclusions. Check agreed value vs actual cash value — on an ACV policy, depreciation eats the payout after a total loss. If the boat is older, expect a request for a fresh marine survey. The hard part is the policy language, so I found a clear breakdown here:
yacht insurance — it lays out the main coverage options in plain English. Then check the navigation limits: cruising outside them can get a claim denied. On the East Coast and the Gulf, the named storm deductible is often a percentage of hull value, not a flat amount. Don't skimp on liability either — wreck removal and damage to other boats can exceed the value of the boat itself. Get at least three quotes and read the exclusions before you pay.