I plan on making one trip across the Atlantic, Florida to Gib. via Bermuda and the Azores. I have a 406 EPIRB and a coastal liferaft. Would it be foolhardy not replacing the coastal liferaft with an offshore one?
Because you would be quantifying your perceived value of your own life.
No matter what time of year you cross the water will still be cold enough to give you hypothermia. Apart from the insulated floor the water ballasting arrangements of an offshore raft are superior to those on a coastal raft. Neither is going to be luxury accomodation as your refuge of last resort. The offshore will be just adequate but the coastal will be far short of the mark in most areas.
Also get a second EPIRB, preferrably coded with your vessel's details. See Westmarine or Boater's World in Key West or Marathon for good deals.
Lots of other stuff would be advisable but you didn't ask so I'll end at that.
Steve is quite right. The coastal liferaft was designed with a pickup within about 6 - 8 hours in mind. Hence the minimal contents of its survival pack. The Baileys were 117 DAYS adrift before being picked up!
After purchasing your new iferaft might I suggest that you attend a sea survival course to learn how to use it?
You need to know more about the specification of your liferaft to answer the question. There is no common understanding of the term 'Coastal Liferaft'. I have seen it applied to anything between an open raft with no canopy to a top of the range liferaft, but with reduced emergency gear (e.g. no water, fishing gear or food). In the former case I would replace it, in the latter then a well thought out grab bag would do everything you need.
Unless you have unlimited resources you are always going to have to make compromises as far as safety/emergency equipment is concerned. Even if you do decide to replace it then you will be faced with the decision about how much to spend...
The best 4 man liferaft for ocean cruising was the Lifeguard Forties A? or was it B? - however it was the most expensive(£1500 approx) - as tested by ST in Nov 99.
It was the Forties A. The B comes ina bit cheaper but isn't as well specified. The most expensive liferafts are the Avon Modula range which retail in excess of £2000.