i carry liability insurance of 100,000 and also coverage for my own boat. the policy costs about $130/year and does not require a homeowner's policy. although it is nice to have the insurance company pay for repairs to your own boat in the event of a crash (accident is such a passive word), the important coverage is really the liability insurance. boats are relatively inexpensive (less than $20,000). if someone is injured bucause of your fault, you could wind up with a huge judgement against you that will follow you for 20 years. try getting a home loan with a judgement on your credit report (or even a car).

i like knowing if i damage my boat or someone else's boat the insurance is there, but i really carry the policy in so i can buy another house some day. it sounds selfish. it is selfish, but the end effect is the same.

ask any attorney or insurance agent. insurance is for catastrophes, not little stuff.