You will have to deal with the hurricane issues. You will be dealing with 12 months navigation requirments and locational restriction -- or you'll be paying an awful lot.

Where are you based? Where will will the boat be located during the year? Will you have 12 month navigation? etc.

The deductable is a big variable. You can save a bunch of money with a larger deductible.

As Jon D point's out -- DO NOT make an false filings or statements in writing or otherwise. Aside from disallowing claims, it really could be viewed in not just a civil context...

A few years ago people used to try to buy second homes with the claim that they intended to live in the house because the lending rate was so much different. There are obviously grey lines between true intentions which events frustrated vs. deception. If one made all the loan payments timely, etc. then everyone took a "no loss, so what" attitude. Now, I'm not sure that you wouldn't be into a fear of being subject to things like: i) the backruptcy exception for indebtness incurred by fraud; ii) wire or mail fraud; iii) defrauding a Federally backed lending institution; etc.

Aside from the basic rule that: "Thou shalt not tell a lie" -- Life's too short to screw around with such things.