Insuring a charter boat can be very different from obtaining insurance for a pleasure or sporting boat.
To begin with, the charter boat will require additional insurance because the vessel represents the livelihood of its owner. Loss of the vessel means not only loss of the boat itself, but also loss of income, as well as countless of amounts of secondary damage derived from lack of use of the vessel (lost contracts, loss of expected income, refunds to potential passengers, etc&).
Additionally, a charter boats main function is to carry passengers for a fee, whether for a day fishing charter, or a brief sight seeing trip. The mere presence of passengers on the vessel presents many liability risks. Consider the possible outcome to passengers if the vessel should be involved in an accident, while operating as a chartered watercraft. Consider, as well, the risks to the owner of the vessel, in the possibility of personal injury suits, negligence suits, property loss or damage, etc& should an accident occur while the boat is operating.
Charter vessels also need special insurance to protect against damages by passengers. Broken equipment, vandalism, and...