U.S Sailing doesn't cover sails. In reality, this is your biggest risk besides catastrophic hull damage while sailing; dumping a rig and shredding the main and jib quickly turns into a $7k+ event. If you don't have insurance on the sails, you're out of pocket $3k+ on the performance side. I will say they (Gowrie) do offer global coverage for <$1000. I forget the fine print, but that might get ya there in the middle of the stream...