On the insurance issue, I'm not so sure. I think a lot of homeowner's insurance policies don't cover this, probably because the boat is not in your backyard...Anyway, I've heard from people that the insurance company added an extra rider on the policy for maritime equipment. Or they ask to take out a separate marine insurance policy.
Actually, you'll probably be surprised what kind of liability a home owner's policy covers. Mine has a clause in it that it will cover liability for an unpowered boat under 21' in length...a rare BONUS in a policy! Regardless, home owner insurance policies cover liability of the
home owner - not just the house itself. If the home owner was liable then the insurance covers them minus their deductable. I have first hand experience in this matter!
