lew, your insurance rate will depend on your own credentials, past ownership of similarly sized vessels, years of experience, geographic location, sailing areas covered, and almost anything else that can be used to identify you as a potential risk, including credit history, past employment, and having a home on land or being a vagrant. (So to speak.)
When in doubt ASK your insurer what criteria are being used and if you can do anything about them. A real broker can give you answers. Sometimes taking USCG Aux or USPower Squadron classes--or joining the organization--can get you a better rate.
But if it is your first time owning a large boat, and it is an older boat, and you have no home on land, and you're in hurricane country....Yeah, that may cost you.