Why use an Independent Agent?
Simply because as such we are able to obtain quotations from the various Insurers and will therefore be in the best position to advise you of the different alternatives available.
Do I need to have Insurance?
Not necessarily, although Banks will usually insist on Owners having adequate Insurance to protect their interests and would not issue a loan without suitable protection.
You would also probably need to have a minimum of Third Party Liability cover as is required by most Port Authorities.
Crew Liability Insurance is also essential as without this you could be personally liable and sued for damages resulting in the loss of the boat and possibly your home!