....I am becoming a big believer in a skeg hung rudder.
More boats should have water tight compartments around the rudder shaft. I need to examine ours more closely. The shaft sits within a compartment that would retain alot of water, but it would quickly overflow if the rudder hull penetration was compromised. It would fill into a very large lazzarette area, which I believe will flood forward, but I've never dug into the steering linkage area to see how. I bet there are some limber holes that allow it. If that simple, I'd really consider blocking them off and putting a separate bilge pump and high water alarm in that aft section. The pump would only be to evacuate convenience water, from dripping, open lazz hatches, etc. But one should stay afloat, if the entire locker flooded. As I think about it, there must be electrical and plumbing chases that would flood through too.
Our bow chain locker, which runs from the waterline to the deck, is water tight to the rest of the boat. That is a minor sense of comfort, in the event we t-boned something.