You are correct. My statement was the worst case scenario which is loss of life (lost at sea). You can activate the SPOT trackers to send a help message to your road crew. You can also tie your SPOT tracker to automatically contact Boat US if "Help" is pressed. "Basic Membership" is $34/year, "Unlimited Salt Water Towing" is $159/year.

Each boat should also have cellphone and VHF radio to coordinate outside assistance, along with other Tybee 500/GT 300 type safety equipment.

I was just addressing the safety issue, not the property issue which is of lot lesser concern. If you do this race, you should be prepared to abandon vessel in worst case. If you leave the vessel, you can reset your SPOT to track so you can find the boat again.