Even better insurance is Insurance! I've got State Farm and now I don't worry for $5 a month.
You said your new, and it's completely fair it makes you nervous, I was. I'm the guy that after flying RC for years, would get shaky hands when it was hovering at 400' for the first 10-20flights. And water shots!? Forget about it, those guys are nuts!
Here's the deal, after you fly it, you'll learn to trust it. The issue, for me, is that If my bird does lock-up a motor, or an ESC failure, if it's over water or land will not matter, except, that over water I don't have to worry as much about hurting someone, or some property damage. If my bird crashes, heck id rather it was over water now that I have some time in.
This is a guy with only 30hrs, about 140 miles traveled with 150 flights. The more you fly, the better you'll feel about water. I live next to a lake, on a peninsula, water all around me, and was just like you. I remember the first flight I saw of a guy flying a P3 about 3/4 mile over water and I was like "no way will I ever be that guy" well, I fly on the other side of the lake all the time, and it's exactly 1 mile to the other side, lol.
Forget all that crap that will slow you down, add weight to the aerodynamic properties, give you less flight time, and maybe 2-3 other UN wanted things I haven't mentioned, one is portability, and how about finally the extra tax on motors, I'll add the extra heat to round out why I wouldn't ever want this on my bird. So all those negatives, vs a nice little policy that covers you, even if bird is gone completely, stolen or run over, it's all covered, vs a big ugly not to market yet anyway, Ill conceived idea. This idea is crippled from the start imho.
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