It is very hard to comment on reports from what someone heard maybe/if happened to someone else regarding insurance
So I'll just concentrate on my experiences and what other cruisers experiences were while cruising in the Caribbean
for nine years. I'll qualifiy this by stating that this is mom and pop cruisers that travel the world and are on their boats 24/7/365, and everything they own is on the boat, and the boat is paid for. We never insured our boats.
Others who are on what is to be considered extended vacations, for a short period of their lives, and return to a world of possessions, and share ownership
of their boats with a bank, never really experience the total independence of cruising. They must insure themseleves against loss.
I won't pass judgement on either group.
As a singlelhandler, every policy I looked at demanded "proper crew" of at least three adults while sailing further than 25 miles from the US, unless I paid a deductable that amounted to almost half the value of the boat. In addition a dry survey
by an approved survayor was required every two years. So I went without insurance
and when I was rammed in the Bahamas this spring, I had no compensation. It was my choice.
My advice would be to ignore what is heard third hand and to read your insurance policy with care and decide for yourself if the terms are aceptable for your situation.
Most long term cruisiers don't have medical
insurance either, but that's another topic..