Perhaps you should sell the boat, because it wasn't such a wise idea buying a boat when you're not even sure you can afford to insure it. If you can't insure it, that is no bueno.
No insurance is not required on boats in WA state as of today. My dad had a boat so I'm sure of this one. However it may make sense to insure a boat that is worth a substantial amount.
documentation
It varies by state law. Just Gift it to him, allow him to reg and insure it and then when you can do it on your own have him gift it back to you.
validation decals
not in Virginia
You can get a state ID card that would work.
Validation decals
Validation decals
Validation decals
Validation Decals
Are you allowed to carry a gun on a boat in VA