Insurance for the old boat

[bigeasy1]

I just got a quote for liability only for my 74 Tsunami.Funny this topic came up as I'm just opening the quote as I type this.
So here it is. (This was from Boat US)


* $300,000 Property damage/bodily injury
* $854,400 fuel and other spill liability
* $5,000 medical payments limit per person each accident
* $25,000 supplemental family member(to above)limit per person each accident
* $300,000 uninsured boater

*** Annual premium for above only $240.00 per year*****

They told me the book value on my 74 is 1,300.00 and yes it could be insured for hull value and contents as well,but the cost was very high.As mentioned I also was told that if I had receipts for all the materials and extras those would allow it to be insured to the amount spent.