I live in Michigan. What you can do to keep the insurance cost down is just/only have Liability on the boat, this cost is lower/reasonable. Which means if you are covered if someone is hurt/injured by it (personal damage). Although since you have only liability ins (and not collision and theft, etc, basically Full ins) if crashed, stolen, you won't be covered. In all my years I have only had Liability or no insurance on any ski. My ski is either in my locked garage or under me. The only thing that would make me nervious is transporting it. Hope this helps, talk to your insurance guy, you have options.