When do go-zillionaires buy insurance?

Those boats are like buying I-pads for us commonfolk. Their shell corporations own/insure them for the tax write-off (funny how those super-mega-uber yachts depreciate so quickly... Almost faster than professional athletes which is why they usually also own a professional sports team or two).

The folks with the boats in the 75-250' length are the ones who actually insure (since they may not be able to afford cash for another one)...