Statistics has nothing to do with the need for a LR. If the chances of foundering were significant we would not go out to sea. A LR is a fallback position of last resort.

Again I think the comparison stands, seatbelts and airbags are fall back positions of last resort (regardless of whether they are compulsory or not).

Re collisions, descriptions on this forum of incidents around the costal waters in the Isle of Wight / Southampton area lead me to believe the potential is very real.

I agree it normally takes time for a boat to flounder (unless of course you lose a keel ), but if you cannot summons help you still need a fallback position.

The original question was, should I buy a LR, and my original answer was, yes unless you have another fallback position in the event that you sink and nobody can help you.

The nay sayers have not come back with a convincing arguement other than its is something that MIGHT not happen.

For me, this is not good enough, for you it might be, I will rely on a proven floatation device should the unexpected happen, you will have to rely on your belief in statistics