I have it on my boat, I would not want to NOT have it either. Being I have invested over $60,000 in my boat, I sure want to make sure it is covered from any major accidents.
Another reason is, I fish in tournaments that require you have insurance on your boat, mainly medical/personal property but I have chose to make sure my boat is covered from everything else.
With all my graphs, rod/reels, lures, I also have all that covered in case of theft. It sure makes life a little easier knowing you are covered.