It seems boat owners certainly have some control over insurance costs. My current trailer sailer isn't insured. No need, paid cash for it, not a significant loss if something happens to it and I don't use marinas.
My previous boat was insured (sold 3-4 years ago, so my info is a bit out of date, but not too out of date). I had no choice but to insure it, no yard or club around here would let me use their facilities without it. The boat was my full time home and cruising boat, so fits into this discussion. Insured value about $40k. Regular insurance was about $600/year, plus I was charged $500 Live Aboard premium for being a full time liveaboard. The region covered by my regular rate was the Great Lakes and St Lawrence river including NYS Canals. So, really a pretty big area about equal in size to the US East coast and covering two countries.
The insurance shot way up as soon as I left that region. As soon as I went East of Quebec city I was looking at about $several hundred/month plus the live aboard premium. However, I was only charged the increased rate for as long as I was outside my home region, a 1 month trip would result in a 1 month increase in insurance. So, say a 4 week trip to Gaspe and back would cost me an extra $a few hundred in insurance.
So its clear to me, my insurance company perceived a lot more risk with offshore travel, than they did with living aboard, less than $100/month in live aboard premiums vs $300/ month in premiums for cruising beyond my home region.
Having sailed the Florida Gulf Coast shortly after Irma and seeing the number of wrecked cruising style boats abandoned in the mangroves, I can kind of understand why.
So this is interesting, and illustrative of how variable and loosely connected insurance rates are to reality.
I was cruising the same area as you during the same period in a very similar boat. Our insurance rates for our $60,000 boat was less than yours (somewhere around $500). This coverage extended all the way through Atlantic Canada, with no additional charges east of Quebec City. I think our only limitation was to be 100 miles tostados shore, and I think we couldnít go above 50 degrees North.
Iíve cruised Newfoundland this past three years. I was with my old insurer up until this year. No change in coverage, and I think the price actually notched down a bit with them. But I switched broker and underwriter (b/c they made me get a new survey, so I decided to shop around), and now pay even less for the same comprehensive coverage. But arguably I cruise in much more challenging waters now.
So Ö two brokers accessing underwriters who cover the same turf with apparently access to the same risk data. Yet we get significantly different prices. I think this supports OBís thesis that this market is closer to boutique, which means the price is rather disconnected from reality.
Further evidence; when I conducted a rather extensive insurance survey a few years ago here (some of you may remember), I found the rate people were paying ranged widely from a fraction of a percent to over 6 percent of insured value.