You and your wife have no visible means of support. Surely you must have some financial reserve to afford you this luxury? The hull extension wasn't paid for with Social Security checks. If you lost your boat, would you be able to pick a "plan B"?

Not trying to get too personal -- just trying to make a point that people whose only asset is their boat and who depend on a meager stipend to cover necessities might find themselves without a plan B if they lose their boat (or their health).