Ditto on StormJib.

Homeowner's and a $5 million umbrella for the liability.
Property damage policy through charter company but deductible was around $6k I think. There is also a reckless or gross negligence clause in there.

My buddy who is the head charterer of four equally qualified and participating families has a hold harmless agreement and joint liability with his three friends because of they way the charter agreement is written placing all liability on the head charterer.

It is worth discussing with your attorney and insurance agent if you have any net worth.