Boat insurance is what it is. If you can afford to self insure and sleep well at night, great. I lost a 40 ft trawler and a 40 ft sailboat in hurricane Katrina. Happy I had insurance on both. There is great disparity in rates for boat insurance so shop around. For low cost check association like AARP or USAA, the tow companies can be a good source Boat US and Sea Tow, Nationwide has a good low cost policy. I have coverage on my trawler and sailboat with Foremost.