One Imortant thing I havent seen mentioned so far is Liability!
When I inquired the hwpd marine unit, about whats needed to be compliant safety and Ins wise.He said this,Do you have children,neices and nephews?Just in case!get it,theres a lot of idiots out there!Property can be replaced,not your friends or loved ones!And If someone gets hurt because of your equipement!Keep that in mind!
I lost a good friend way back,due to a faulty vehicle that he borrowed from a friend of his,swerved away due to a dog on the rd!No ins period!Enough said!