More first-time boat buyers are getting on the water this season than in summers past. Along with the boat, many new owners also find themselves shopping for boat insurance for the first time. What are the most basic things new boat owners should know about buying a boat policy?

BoatUS offers three wise buying tips.

Know the two basic types of boat insurance policies: Agreed Hull Value (AHV) and Actual Cash Value (ACV). AHV policies are the most popular type of boat insurance policy sold today because if there is a total loss, there are no surprises: You and your boat insurer have already agre...