Jake,
You are correct your boat policy would cover for this type of damage. Mind you there are two different types of coverage on a Home Owners policy and boat policy. As a whole, your own HO policy will cover for third party liability (when you damage someone else's property) as a result of your negligence. This would include RACING. I know some will argue this fact but racing is excluded for power boats, but is a give back in the HO policy for sailboats in a race under 27'. You would need to read the liability section thoroughly for complete understanding.
As to your boat policy it not only covers for the liability section and or damages caused by you, but also the first party damages. First party are the actual damages to your boat regardless of cause unless excluded. The easiest way to determine what is covered in the boat policy as to first party damages, are to read the exclusions. If not excluded then its covered.