I insured my last boat through progressive for $5k for ~$200/year with a $250 ded., and it was totalled. That included the trailer, though, which was undamaged and customized, and that meant that they would keep the trailer (presumably goes to sit in a salvage yard.) if I took the payout. I bought the totalled boat and trailer back from them for $600 IIRC.

My next boat is insured for just under twice as much, with the same deductible, and the premium as actually LESS, at ~$150/year.

These also gave me about $85/year multi-policy discount off of my auto policy.

I think the premium discrepancy was due to ordering the first policy online which included roadside assistance and a few other things that don't apply to me, and I called for the second policy and only got the specific coverages I wanted.