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Hello Joe,
The stainless steel rub rail itself is probably not the cause of the leak. It is more likely one of the following:
- A screw has passed too far in through the stainless rub rail allowing water ingress
- The bedding on a deck fitting like a jib track, stanchion base or toe rail is allowing water ingress
- Or, the big worry is that there is separation somewhere between the deck and the hull
You seem pretty certain that it is the rub rail, so let's assume for now that it is. Let's also assume that the rub rail is located over the deck to hull seam (don't know your boat, but this is likely the case). Remove all the screws and the rub rail, then inspect for separation of the deck to hull contact area. If there is no separation, you can reliably assume that it is one or more of the screws holding the rub railing to the boat. Inspect each of the screw holes carefully, the culprit may be obvious from staining. Clean and let dry for several days, then apply a polysulfide caulking to each of the screw threads before screwing them back in through the rub railing. Both 3M and Sika make high quality caulk in black and white colors. Let the polysulfide caulk cure for a day and then run water over the deck and rub railing. If this does not cure the leak, move on to the deck fittings, stanchions and toe rail in that order until you find the source of the leak.
Regarding replacement of the rub rail, unless it is a cosmetic eyesore I see no reason to replace it.
Good luck,
Captain Bob Wellen
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