So there is a cruiser that never ever comes in close proximity to anyone else's property or the shore, for that matter.
I highly doubt it.
If you don't carry liability insurance and do not have the personal resources to cover the potential damage you might do to another's property, your lifestyle is being supported by all those that take that risk being in your presence.
If one is fully willing to pay out everything of value that they own to make another whole, then make that your deductible. The policy would be pretty cheap.
In my experience, the uninsured are the first to hit and run.
Actually I can afford it, and have carried both comprehensive and liability insurance when CONDITIONS warrant, which usually means being in a 1st world, lawsuit crazy country.
Sure, we are in contact with other people's property from time time, mostly in marina's where the majority of offshore sailors, are not insured. I guess we've spent to much time at sea to worry about the "what if's", "roque waves" , "Pirates" and all the other startling disaster stories that everybody seems to cling to. I've been impressed with other sailors owning up to their mistakes, mostly anchor dragging damage, which is usually scratches and some bent stanchions. Both parties seem to work out the damages issues with cash, or DIY repairs. The larger disaster scenarios seem to be figments of the imagination for some and greatly exaggerated.
Since we are double handing, not many others our in our presence. The anchorages in SE Asia are wonderfully free of the crowds elsewhere. Guess what? For liability reasons we don't take USA crew. Many others won't also.
With some of the other stories about insurance fraud in this thread I can see where you are coming from. A lot of dirt bags out there. But, also a lot of sailors and seaman who understand the risks, accept and prepare to mitigate those risks with sound seamanship skills.
The last thing on insurance, I never want to have in the back of my mind the idea that I could take an extra chance, be less prepared, enter a coral reef at night, have less then 5 anchors etc, etc, etc...all because I have insurance......I wonder how some other folks who have met with so called disaster, abandoned perfectly sound floating boats, lost a mast etc etc, would have fared if it was a little more painful financially to walk away?