Join Date: Jun 2004
Location: West Michigan
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normally in that type of joint, there's a lip on both the deck an hull.
On cheap boats it's often just stapled together with all waterproofing being managed by the rub rail. On better boats they'll caulk the joint, then screw together and cover with the rub rail. On really well built boats, they'll have an aluminum or stainless channel that fits snugly over the lips, and fasteners go through that and the lips, then it's covered with the rub. On some boats, the only reason for the lip is for attachment of the rub rail.
I can't see it perfectly, but it looks like the lip itself is fine, and just the rub rail pulled away. Check to see if the lip is there on both deck and hull, if it is then possibly the most you'll need is a new rub rail or if it just pulled away, reattach
looks like it may have did it's job and rubbed up against something hard enough to deform it.