Took me a couple of weeks shopping for yacht insurance before spring launch. The first thing I learned: a low premium often hides a pile of exclusions. Check agreed value vs actual cash value — with ACV, depreciation cuts your claim after a total loss. For an older hull, be ready for the insurer to ask for a recent survey. Most of the confusion comes from the policy wording, so a good starting point is yacht insurance — it lays out the main policy terms without the sales talk. Also read the navigation limits carefully: going past the listed waters can leave you uncovered. On the East Coast and the Gulf, the named storm deductible is usually a percentage of hull value, not a flat amount. Don't skimp on liability either — wreck removal and damage to other boats can exceed the value of the boat itself. Compare two or three carriers and read the exclusions before you sign.