Help me out: Assume I am financing a used boat for about 35k. What are the standard requirements on insuring the boat, assuming I have no home equity? Does it vary from state to state? I get so many different stories my head is spinning.

The only minimum you will have is what your lender sets forth to protect their interest. It's usually the boat's market value, or amount financed.

I'm not aware of any state mandated insurance requirement, it's not like it is with cars.

found this, http://www.unitedmarine.net/states/ny.htm insurance is to protect you and your passengers from a major financial loss. I wouldn't be without it. Your finance company can set whatever insurance requirements it sees fit to protect it's interest. If your finance companies requirements are too expensive, you may have to look elsewhere.

Thanks fellas.