Most of my boating is on the Gulf of Mexico within 25 miles of the coastline. I have the usual precautions, from flares and decent PFD's, through to multiple fire extinguishers, VHF, radar and Sea Tow. Am considering a ditch bag with a handheld VHF, an EPIRB, water, snacks, strobe, waterproof torch and smoke / glow lights. Makes sense even if not used. Can see the need if going way out in the Atlantic or on tour around the Bahamas, but in the Gulf and I don't fish, there isn't much to enjoy beyond the 25 mile mark.