Spent a couple of 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 -- with ACV, depreciation eats your claim after a total loss. For an older hull, be ready for a request for a fresh marine survey. The hard part is the policy wording, so a good starting point is yacht insurance -- it lays out the main coverage options without the sales talk. Also read the navigation limits carefully: cruising outside them can leave you uncovered. On the East Coast and the Gulf, the named storm deductible is usually 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.