Instead, the people who rent the vessel from the owner are responsible for taking care of such things and (for commercial shipping) obtaining insurance, usually for a minimum term of one year.
The giving up of possession of the ship by the owner is the defining characteristic of a bareboat or demise charter.
The charterer obtains possession and full control of the vessel, along with the legal and financial responsibility for it.
Much like online travel agencies that sell unsold inventory of airline tickets and hotel rooms at a fraction of the price, there are now also last-minute bareboat charter brokers, where travellers can find excellent rates.
In the United States, there is an additional legal distinction with regard to bareboat or for hire, or "skippered" charters.