Price depends on coverage...whether it is replacement value or agreed value. how much liablity ..etc..etc...I dont pay that much , I pay an annual premium but it is about $400 per year ...roughly half of what you are paying..I have an 08 Bass Cat Puma..got my quotes and policy from :
Worldwide Marine Underwriters, Inc.
15200 S. Wright Road • Suite 4
Grand Ledge, Michigan 48837
Phone: 800-339-1235 or 517-627-8080
You can find him here on the forum in the Insurance 101 under the boat section...great guy that understands coverage and boats and fishing...never had a claim but from other reports I feel like he is a stand up guy and agent.