Hi All,
Here in Australia we have a slightly different system, the two classifications are enclosed waters and open waters. This resolves the whole coastal thing, if your on water that is enclosed by the shore (river, bay, estuary) your enclosed, exit through the harbour, river bar etc and your in open waters. Our safety requirements for open waters are;
1 Lifejacket type 1 per person
1 anchor and chain/line
1 bailer/bucket for vessels with open bilges, bilge pump for covered bilges
1 magnetic compass
2 red hand held distress flares
2 orange smoke hand held distress flares
1 406MHz EPIRD if 2 nm or more offshore
1 fire bucket if no bailing bucket carried
1 fire extinguisher for vessels with electric start, electric motors, battery, gas or fuel stoves
1 map or chart or the area (paper not electronic)
Marine radio
Paddle or oars in vessels under 6m unless a second means of propulsion is fitted
1 safety/capacity label
1 sound signal (air horn/whistle/bell)
1 v-sheet (orange)
2L drinking water per person
1 waterproof floating torch
I carry all of the above in my 5.3m cc without too many dramas. Regarding the EPIRB I find it a little odd that people who are happy to put $600 worth of fuel in their boats every trip or two baulk at spending this once on a really useful safety device ?