Considering the legal
and liability situation inside the boundaries of the USA I think that maybe the cost of insurance is high just like the cost of everything else here. In countries with more sane (I.M.H.O.) societies I would guess that the costs of insurance would be lower.
I have met world cruisers in my active cruising years that would not visit the USA because their insurance companies wanted a rather expensive "rider" to cover their stay in the USA.
However, in some countries the population simply has no concept
of "suing" over any and everything so their even having insurance for their boats does not enter their minds. Of course, for those of us with large expensive investments in our boats going without insurance to recover the loss of the boat (especially if the boat is attached to a bank loan) is also inconceivable.
So like most things, there is a wide variety of opinion and needs when it comes to insuring our sometimes considerable investment. And I have observed many, many cruisers who have to pattern the extent of their cruising areas due to the dictates of the various insurance company policies or limits. Still there are so very many wonderful places to cruise
in this world that such limitations can also open up opportunities to visit and experience areas where we maybe would not have gone.