Being uninsured would really be foolish on your part. Just because you are uninsured doesn't mean that you are not liable for damages caused by your boat--even accidental damages. And, in some foreign ports you would end up in jail and your boat confiscated. Spending a couple years in a foreign jail is not like being jailed in the U.S. country club jails.
You may wish to look closer at the insurance issue and reevaluate your decision.