Buying boat insurance is like comparing apples to oranges UNLESS you are specific with each company you are talking to and you get the SAME EXACT coverage from each. Most of the time that is hard to do.
Someone mentioned the MTOA policy. The underwriter of that policy is/was GEICO just as it is with BoatUS. The MTOA policy does have some specifics as to the agreed value and some other points, but when I contacted them they were more expensive than BoatUS and required a survey if a previous 1 was older than 4yo. That adds to the cost.
USAA does not write boat insurance but hands it on to Progressive. They would only go to $60K for our '86 43' Albin sundeck but passed me on to Markel, which also wanted an out-of-the-water survey. Not able to do that as the boat is in KY we are in PA and won't be back to the boat until May.
Also, BoatUS has dropped any latitude requirements, Markel had them in place.
Make sure as you do your shopping that you aren't required to get a survey, unlikely for a new insured, the value is agreed value, check for waiver of depreciation and make sure your medical liability and uninsured boater is $300K. Also make sure your spill coverage is $900K+.
Another thing that is entering into the insurance cost is your credit score. IF you aren't in the 700+ you will probably pay more.
Lastly, even if you have boated for years, they will ask if you've had any boating courses.
It is a jungle out there with insurance and the uninitiated will have a hard time getting insurance on a boat, older makes it harder still.
One final thought, EVERYONE looks for cheap insurance. EVERYONE wants to be paid if they file a claim. I know of more instances of people who had to wait to get paid or to negotiate the payment to get paid than I think is necessary. I have always heard that BoatUS shows up with a checkbook, not sure that is the case anymore now that they are under GEICO but it is an important consideration.
Stay safe & healthy out there.
m/v Nepidae, Albin 43 Sundeck