A sailboat is a major financial (and often emotional) investment and you will want to make sure your vessel is adequately insured, just as you would insure a home or a car. Insurance can cover you sailboat for hurricanes, fuel spillage, long distance travel, and damage or loss of equipment, furniture or other belongings.
The most important part of your insurance however is marine salvage. You will need salvage service if your sailboat sinks, runs aground, or in any situation where your boat is damaged and inoperable and needs to be towed into port. Depending on the circumstances and where your sailboat has become disabled, salvage can be very expensive. In many places, it is a considered a hazard or even illegal to abandon a boat, and you may be subject to expensive fines if your boat is not recovered or moved. Good salvage insurance will also cover the cost of repairs once your boat is back in port.
If your sailboat is big enough to have a crew, you may also wish to insure them on your policy as well. An experienced insurance agent will discuss all the available options with you.