Took me about two weeks shopping for coverage for our boat before the season. Lesson one: a low premium often hides a pile of exclusions. Look at agreed value vs actual cash value — on an ACV policy, depreciation cuts your claim after a total loss. For an older hull, expect the insurer to ask for a recent survey. Most of the confusion comes from the policy language, so I found a clear breakdown here: yacht-insurance.net — it lays out the main policy terms in plain English. Also read the navigation limits carefully: going past the listed waters can get a claim denied. On the East Coast and the Gulf, the named storm deductible is usually a percentage of hull value, not a flat amount. Pay attention to liability limits — wreck removal and guest injuries can cost more than the boat itself. Compare two or three carriers and read the exclusions before you sign.