Islander this has been discussed before in another thread. It truly depends on their definition of "unsinkable."
Please read the following:
http://www.boatingmag.com/article.as...§ion_id=13
Pay particular attention to the section concerning level flotation. A swamped aluminum or fiberglass bilge style boat will be submerged with a small portion above water. The term unsinkable as referred to by the Coast Guard regulation still puts people in the water. To say that a boat with 80%-90% of the hull underwater is unsinkable is using the term quite loosely.
I guess my point was and is you are less likely to end up in the water when piloting a solid foam core hull boat. I'm not sure what term to use but I believe unsinkable does a great job describing what these boats are capable of. As far as the rest of the aluminum or bilge style boats under 20 feet I think unsinkable is the wrong term. Sure they "float" or some piece of them remain above water but when do we determine when a boat has sunk.
Skip posted a great definition of sinking. It included Websters definition:
2 a (1): to fall or drop to a lower place or level
Also Dictionary.com:
to displace part of the volume of a supporting substance or object and become totally or
partially submerged or enveloped.
I still can't find the Coast Guard reg that states or uses the unsinkable term though?