6. (5 points) James owns a 32-foot boat that he uses on weekends. His insurance agent informs him that large watercraft are excluded from his homeowners policy. As an insured, James feels his boat should be covered just like any other personal property he owns. a. Explain to James the rationale for excluding certain types from property, such as boats, under the homeowners policy. b. Give and explain two additional reasons why exclusions are present in insurance policies