There are numerous postings on this site regarding insuring vessels in a country outside your normal residence, generally due to more attractive premiums which save money.
The most import fact that seems to be continually overlooked is that if there is a claim, then the policy holder will be subject to the laws, jurisdiction and currency of the country where the policy is written.
Part of the reason premiums for blue water sailing are high is to cover the repatriation costs of the boat to an area where the required level of skills are available to correctly repair a damaged yacht. Often, due to the nature of build process that is not straight forward with an Amel.
If anyone is really serious about sailing overseas then flag and register your vessel correctly and carry notarized copies of everything for presentation on arrival at a new port. Any form of clever short cuts re. flags or registration documents will eventually lead to a nightmare somewhere.
Brazil and Argentina have numerous vessels mostly European, that have been seized due to incorrect paperwork, neatly described as "legal piracy" by insurance companies.
I was asked for a US $15k bribe by three officials to release my boat from Brazil which I refused to pay. I had weeks of hassle trying to get cleared and eventually joined a French rally to get lost in a crowd and cleared out with a group.
The crew of non USA flagged vessels privately owned, will only be accepted into USA territory if they have been issued with the appropriate visa before arrival. In my experience this is a zero tolerance policy and no matter how long or far you have been on passage, you will be turned away.
Mexico will accept on line temporary permit applications for your vessel if your are Canadian or American, all others have to arrive there first and it difficult to achieve due to lack of knowledge form their officials.
All the correct information is out there.
My two cents worth is, full time cruising is hard enough, why would anyone want to make it harder just so someone who doesn't give a damn can take their home away?.
former owner Seafever of Cuan
Hull 425 SM redline