I have chosen to “self-insure” the hull value of my boat, since I believe it is worth more than any surveyor would agree to anyway. I keep it on a mooring designed for my former 30’ boat with a good cover to keep out the rain.
In terms of liability, (the most important reason to have insurance these days) I checked my homeowner’s policy from Allstate and found that the “watercraft clause” nicely covered the Ensign and any liability risks I might face. I also carry a Personal Umbrella policy extending the liability limits on all of my policies which for about $40 more also extended the Watercraft Clause.
So if your numbers for a standard boat policy are getting unrealistic, consider an alternative route.
Dennis Nixon, WIND, #1331