I just had to switch my
insurance due to a huge premium increase on my Travelers policy. It seems it was a bad year for insurance company profits, so premiums were adjusted.
I ended up with a Geico policy with the cruising limits stipulated as coastal and inland waters of US and
Canada. My understanding is there is no defined milage limit on how far
offshore is still considered coastal. But the policy would need to be changed to cover foreign waters other than
Canada.
The other thing you need to be aware of is what is the basis of
boat value in the policy. Generally, it will either be actual cost value or agreed value. Since ACV is totally defined by the insurance company based on depreciation, I would always recommend an agreed value policy. But I’m not an expert.