You`re probably not legally required to take out boat insurance, but that doesn`t mean you won`t need it. First, if the transaction is really important to you, it may be large enough to involve a lawyer. This is due to the fact that many negotiations take place during and after the drafting of the agreement. In the agreement, many of the most important decisions are made, including pricing, payment (as in, how is payment made?), etc. You have found the boat of your dreams, the price is correct and you have paid the seller. So the boat belongs to you freely and clearly – or is it that? These friends of the boat share the maintenance costs and share the tasks of the captain – and still maintain a close friendship after 25 years. Sales contracts or contracts should contain the following minimum information: How to buy a boat in New Zealand by boat insurance experts. .