MOST BOATS MAKE IT

Once Crescendo resurfaced, pontoons were affixed to the hull and she was towed to a dry dock to be stripped of interior components. Even though it was unlikely, the engines were inspected to see if they could be rebuilt. Neither Crescendo's owner nor her insurance company would comment on the vessel's final disposition.

If the yacht had made it back to port before sinking, it would have been in the statistical majority, according to Jerry Cardarelli, a tow and salvage specialist for the BoatUS.

Thanks to modern warning systems, larger pumps, advances in communications and an increasing community of towing and salvage services, many boats can survive damage that would resulted in a loss two decades ago.

Ironically, about four out of five boats that sink do so while tied to a dock, whether the sinking is caused by negligence leading to catastrophic disrepair or a storm. Vessels that are run aground or sink at sea during severe weather are in the minority.

"Most of the time, sinking ships are found after an owner can't pay to keep it up or afford slip fees and lets it go to the bottom," said Coast Guard Lt. Andrew Munoz.

REPAIRING THE DAMAGE Photos by Glen Justice

In the case of a marina sinking, there is a greater likelihood that a salvage operation may be able to save parts of a vessel that might otherwise be lost, Cardarelli said.

Engines, only moderately "pickled" by saltwater, can often be flushed and cleaned. Electrical systems, while highly vulnerable, can sometimes be repaired. And there is a myriad of equipment–running gear, running rigging, ground tackle and other hardware–that is impervious to water. A boat submerged in fresh water is an even better candidate for salvage.

Whatever the circumstances, repairs are often a fraction of the cost of replacement–but even those savings come at a price. It is not unusual for a salvage operator to negotiate a percentage of the recovered boat's worth as a fee, Cardarelli said.

For that reason, having insurance for the worst case scenario, even additional riders added to normal insurance policies, is something for owners to think about. BoatUS recommends that all of its members carry a $500,000 liability policy for fuel and environmental clean-up, said spokesman Scott Croft.

Another consideration: Even with liability coverage, some boat owners can find themselves financially upside down if salvage expenses exceed the value of their boat, Croft said. That could leave an owner with a bill that exceeds the vessel's original value–and no guarantee that the boat can be brought up whole or restored.

And that might just be enough, experts say, to make any boater pay more attention at the helm.