Couple of points:
- Check what value you are using for your cat/trailor.
- Check if it is a "replacement cost" or "actual cash value" policy. It makes a premium difference (because what they pay for damage differs)

- If you can fix the boat yourself, get a "liability only" policy which is very cheap (comparably) because it doesn't cover the loss of your boat (fire, theft, etc), or damage to it caused by you (if you hit something)

NEVER go without liability insurance, because if you hit me, I'll find the best ambulance chaser I can and take your car, house, future wages, weed-eater, garbage disposal, Christmas tree lights, and yard gnome.... <img src="http://www.catsailor.com/forums/images/graemlins/smirk.gif" alt="" />