[tdw]

I doubt the refitting costs are too high if you want to get it right before you set off.

Whether that is really necessary is debateable, refitting as you go along may well work provided of course boat is basically sound to begin with. OTOH, if you need new standing and running plus new sails and a major engine overhaul then that budget starts to look sensible.

While I would be prepared to head off without comprehensive insurance no way would I go without third party property and public liability.